Market News


Half-year financial results 2021

Release Date: 7/30/2021 9:04:16 AM

IRIS Code: 011B1

To: Bucharest Stock Exchange (BSE) 

The Financial Supervisory Authority (FSA) – Financial Investments and Instruments Sector


Raiffeisen Bank - net profit of 397 million lei in the first half of 2021


• The bank’s total assets increased to 54.5 billion lei, by 18% yoy;

• The bank's net loan portfolio is approximately 30.2 billion lei, 11% larger than in June 2020;

• Customer deposits reached 44.3 billion lei on June 30th, 2021, an increase of 15% yoy;


Bucharest, July 30, 2021 - Raiffeisen Bank recorded a net profit of 397 million lei in the first half of 2021, 42% higher than in Q2 2020. It is a very good financial performance mainly due to the considerably lower cost of risk level - on the background of the loan repayment discipline, supported by the measures taken to support the clients, both by the bank and by the government, but also by improving macroeconomic evolutions and the loaning increase.


"We are pleased with our achievements in the first half of 2021, a year in which we are concerned to support our customers and the recovery of the Romanian economy. We succeeded to maintain the bank's risk profile at healthy levels, through our own and public moratoriums and, together with our clients, we can say that we have overcome this completely unusual period. Moreover, we recorded a very good growth of the bank's loan portfolio by 11%, compared to the middle of 2020. We grew on all customer segments with a peak of 21% growth for SMEs, largely due to our strong involvement in the SME Invest program. We achieved a significant growth also on loans for individuals and Corporate loans, which added 10% and 8% yoy, respectively ”said Steven van Groningen, President & CEO of Raiffeisen Bank.


As of June 30, 2021, total assets reached 54.5 billion lei, an increase of 18% and the bank's revenues increased slightly by 2%, compared to the same period last year. The bank's revenues evolution was influenced by the constant efforts to offer customers convenient transactional services in terms of price and quality, such as current account packages, with numerous free transactions, but also the migration of operations from agencies to multifunctional machines and electronic channels, with a low cost for customers. Operating expenses remained at the same level yoy, with a decrease of 1%.


The health crisis brought a more prudent behavior, oriented towards postponing expenses and saving, so that customer deposits increased by 15% at the end of Q2 2021, compared to the level of June 30, 2020, reaching 44.3 billion lei.

Sustainable financing of companies is growing at a steady pace


At the end of the first half of 2021, the balance of net loans granted to SMEs by Raiffeisen Bank increased by 21% compared to Q2 2020. The bank offers financing solutions, both from its own sources and through the use of dedicated guarantee programs, such as SME Invest, as well as extensions of the European Investment Fund (EIF) programs. The bank's solid commitment to supporting entrepreneurship led to the launch of the fourth edition of the "Factory by Raiffeisen" start-up financing program, enriched with an educational component. The program recently received the Community Index recognition in the entrepreneurship category, receiving Gold award. It is worth mentioning that the bank is active in a traditional sector – agriculture – and together with several partners, Raiffeisen Bank participates in Greenfields Academy, an education program dedicated to farmers who want to make the transition to sustainable agriculture.


In the first half of 2021, the net loan portfolio for large and medium-sized corporations increased by 8% as compared to Q2 2020, the bank continuing its strategy to support customers' efforts to adapt to new economic realities, but also the concern for sustainable financing. As for ​​companies, the bank focuses on financing sustainable investments, with the component of reducing the CO2 footprint. Together with the parent group RBI, Raiffeisen Bank assumes an essential role in the process of transition to a green economy and aims to generate a positive impact, both in the way it operates and in the projects chosen to finance.


Raiffeisen Bank placed in June 2021 the largest issuance of corporate bonds in lei for a Romanian issuer and the second issue of green bonds of the bank, of 1.2 billion lei, after the one in May 2021, which attracted 400.5 million lei. "Through the two issuances of green bonds in the local market, we reconfirm our commitment to mobilize financial resources for sustainable purposes and to integrate social and environmental aspects in risk management, to ensure a progressive decarbonization of the loan portfolio. The funds raised through these bond issues will be directed to green projects that meet the eligibility criteria defined in the bank's Green Bond Framework” said Steven van Groningen, President and CEO of Raiffeisen Bank.


The loans granted to population increased significantly in the middle of 2021. The Flexicredit portfolio doubled in value, as compared to the same period last year, while the loans with mortgage guarantee for individuals increased by 40%. Raiffeisen Bank continues to be one of the leaders in the Romanian credit card market, with a portfolio of over 550,000 active cards.


The health crisis is accelerating digitalization in the benefit of customers


At the end of the first half of 2021, the number of digital active customers reached 950,000 (out of 2.18 million PF customers). This year, more than 75,000 customers, on average, have started using the digital services offered by Raiffeisen Bank every month. Regarding the corporate clients, over 99% of them trade with the bank exclusively through electronic channels.


Credit card payments in the first half of 2021 increased by 23% compared to the same period in 2020. Raiffeisen Bank customers can make payments by phone with RaiPay on Android and Apple Pay on iOS. Garmin Pay is also available on Garmin watches. Payments by phone or watch or any Raiffeisen Bank card have doubled in the first 6 months of 2021, compared to the same period in 2020.


Raiffeisen Bank made available to its customers a new functionality of the Smart Mobile application - investments in mutual funds. Through the app, directly from the mobile phone, individual clients, who have signed an investment contract, can place their money in any of the 12 investment funds managed by Raiffeisen Asset Management. Smart Mobile also allows the online viewing of the client's portfolio of funds. Raiffeisen Accumulation has been designated by the Bucharest Stock Exchange as the best performing private pillar fund Pillar III in the last ten years. Also, in the first part of this year, the bank organized a series of webinars on saving and investment "Investment Talks", dedicated to its PF clients, concerned with these topics.


Raiffeisen Bank is one of the universal banks in the top 5 in Romania and has in its portfolio 2.2 million customers, individuals and legal entities. The bank has over 4,600 employees, 300 agencies across the country, 700 ATMs, 400 multifunctional machines (MFMs) and a network of over 24,400 POS. The bank has met the needs of customers for large cash deposits and has already installed 20 Smart DropBox devices. At the end of June 2021, over 60% of Raiffeisen Bank's 300 units operated digital cash registers, so that agency employees could provide counseling for digital education and service to our clients' needs.


For additional information:


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Report date: 30th of July 2021

Name of the issuer: Raiffeisen Bank S.A.

Headquarters: Sky Tower Building, Calea Floreasca, No. 246 C, Bucharest

Phone / Fax No: +40 21 306 1000 / +40 21 230 0700

Unique Registration Code with the Trade Register: 361820

Order number in the Trade Register: J40/44/1991

Subscribed and paid-in share capital: RON 1 200 million

The regulated market where the instruments are traded: Bucharest Stock Exchange and Luxemburg Stock Exchange








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