The volume of loans provided to Raiffeisenbank clients rose by five percent to CZK 371 billion in the first quarter.
The growth was both on the side of households in the form of consumer and mortgage loans, and on the side of companies in the form of project loans and overdrafts. The volume of deposits received from clients increased by 16.1 percent to CZK 592 billion.
The bank’s total operating revenues increased by 0.9 percent to CZK 4.19 billion. The bank’s net interest income fell by 0.3 percent to CZK 3.21 billion.
According to the bank, the decrease was primarily caused by higher interest payments to clients, especially on savings accounts. Net income from fees and commissions fell by 11.6 percent to CZK 0.95 billion. Operating costs decreased by 5.3 percent year-on-year to CZK 2.45 billion.
“While ten years ago, clients’ contact with the bank was in the vast majority of cases at a branch or at an ATM, today this ratio is exactly the opposite,” commented the Chairman of the Board and CEO of Raiffeisenbank Igor Vida on the results.
“The share of digital interactions between clients and the bank is 96 percent of the total number of interactions. Most of these digital interactions are through mobile banking,” Vida added.
In the first quarter, Česká spořitelna’s net profit increased by 73.3 percent year-on-year to 5.7 billion crowns, Moneta Money Bank’s net profit was CZK 1.3 billion, 5.8 percent higher year-on-year.
Raiffeisenbank is one of the largest banking houses in the Czech Republic. It has been providing banking services here since 1993. The majority shareholder is the Austrian financial institution Raiffeisen Bank International.
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Economy
