Raiffeisenbank (Bulgaria) EAD registered an 18 % rise in the operating profit for the first month of 2004, compared to the same period last year. The profit before taxes for January 2004 is 3.2 mln Bulgarian levs. The bank’s credit portfolio totalled 687 mln levs at the end-January 2004 (an increase of 64 % compared to January 2003). The bank’s assets stood at 825 mln levs - January 2004 (an increase of 53 % compared to January 2003). The bank collected deposits worth 512 mln levs - an increase of 31% compared to January 2003.

In January 2004 the bank opened two new branches in Sofia, thus expanding its branch network to 38. The bank is to open offices in Vidin, Gorna Oryahovitsa, Shumen, Silistra, all in Northern Bulgaria, and in the seaside resort Zlatni Pyasatsi over 2004.