Raiffeisen Banca pentru Locuinte, one of the two players on thehousing savings and loan market, ended 2009 with profit worth 1mRON (238,000 euros), in line with IFRS, the first annual profitgenerated since the bank was set up, back in 2004. After the firsthalf of 2009, the bank had posted 4.5m RON income (over 1m euros),but the full-year figure was eroded by costs related to the mergerwith HVB Banca pentru Locuinte and losses registered by theabsorbed bank. Raiffeisen integrated the almost 20,000 contracts ofHVB Locuinte, reaching a total number of 128,000 contracts in late2009. "Since the beginning of the year, we've sealed 5,000contracts. It's not a high number, but it's an expectedseasonality. The start of the year is more difficult," statedAndrei Stamatian, chairman of the bank. The total value of depositsreached 250m RON (59m euros) at the end of 2009, up 9% from 2008.The loan portfolio hit almost 50m RON (12m euros) in late 2009,from 2,500 active lending contracts.
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