After more than a year of constant declines, the loan portfolioof Raiffeisen Bank, a top ten bank on the market, resumed itsgrowth, getting to over 2.7bn euros in late June, and the Austrianshave ambitious plans to boost the lending market share.
"We've managed to halt the falling loan volumes. In recentmonths, we've come to grant new loans bigger than the sums paidback by clients for old loans and so we ended the downward trendthat had lasted for over a year. With the profit level we have andwith our risk management policy I would very much want to maintainthis trend reversal and expand our lending market share," StevenVan Groningen, Raiffeisen Bank chairman, told ZF.
In the first half, the bank generated net income worth almost50m euros in line with IFRS, down only 5% from a year ago. VanGroningen says that profit in line with RAS stood at 45m euros, analmost similar level indicating the bank's caution in setting upbad loan provisions.
As for the second half, Groningen says that are a lot ofunknowns linked to the foreign environment, interest rate trends,political risk, tax changes. "(...) I'm afraid changes are notoperated out of conviction, but under IMF and EU pressures".
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