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    Raiffeisenbank is among the leading banks in Bulgaria in 2016


    (The financial data is in line with the Bulgarian legislation, based on the IFRS)

    In 2016, Raiffeisenbank (Bulgaria) EAD reported a profit after tax of BGN 132.6 million. The loan portfolio grew by 5 per cent compared to a year earlier and stood at more than BGN 4 billion (31.12.2015: BGN 3.85 bln.). As of 31 December 2016, the NPL ratio was 6.5 per cent, compared to 8.1 per cent as of year-end 2015.

    ”2016 was very successful for Raiffeisenbank – we reached our goals – high customer satisfaction and to be among TOP 3 banks in terms of profit after tax, while keeping our non-performing loans and the  coverage with provisions at very healthy levels. The sustainability of our business model was further proved by the Asset Quality Review, carried out by the BNB. This allows us to grow organically in all segments and to keep the high quality of our portfolio,” commented Oliver Roegl, CEO of Raiffeisenbank.  

    Corporate financing

    In 2016, Raiffeisenbank’s corporate portfolio increased by 6.4 per cent compared to 2015. The newly extended financing to corporate customers grew by 19 per cent year-on-year.    

    An analysis of Raiffeisenbank’s portfolio shows that as of 31 December 2016, the sectors financed by the bank included Wholesale and Retail Trade (34 per cent), Manufacturing (32 per cent), Agriculture, Forestry and Fishing (11 per cent), Accommodation and Food Services, as well as Construction (both 5 per cent) and others.

    In 2016, Raiffeisenbank signed three guarantee agreements with the European Investment Fund – InnovFin, COSME and the SME Initiative. Under these programs the bank has extended loans amounting to EUR 22.8 million, financing more than 200 individual projects of Bulgarian companies.    

    Growth in household lending

    In 2016, Raiffeisenbank reports 34 per cent growth of the newly extended loans to private individuals and the households. The mortgage lending increased by 57 per cent compared to 2015, while the consumer loans grew by 27 per cent. 

    A review of the bank’s portfolio indicated that the average amount of the consumer loan in 2016 was BGN 15,000, used mostly for home repairs and renovations (64 per cent). The average monthly installment stood at BGN 260 and the average repayment term was 6 years.

    According to the bank’s analysis, the average amount of a mortgage loan in 2016 was BGN 94,000; the monthly installment was BGN 600 and the repayment term – 19 years. The typical average customer of Raiffeisenbank’s mortgage loans was a 37-year-old man, working as an IT specialist with a monthly income of more than BGN 1300. With the financing, provided by the bank, the households have bought mostly apartments (94.4 per cent), rather than houses - 5.6 per cent, focusing on monolith constructions – the latter constituting 69 per cent of the homes, bought with loans, provided by Raiffeisenbank.

    Raiffeisen Research: 3.3 per cent growth of the Bulgarian economy for 2017

    Raiffeisen Research’s analysts expect that the growth of the Bulgarian economy will continue and predict a 3.3 per cent increase of the real GDP growth, compared to 3.4 per cent in 2016, which is above the levels in the eurozone (1.9 per cent forecasted for 2017) and slightly below the levels in Southeastern Europe (3.7 per cent). 

    According to the outlook, the unemployment rate should further decrease from 6.4 per cent in 2017 to 6 per cent in 2018. The inflation is expected to increase and to reach 2 per cent in 2018, which is most likely to be below Southeastern Europe’s average level and slightly above the eurozone inflation rate.   


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