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Raiffeisen Banca pentru Locuinte steps into the black in Q1, with gross profit of lei 3m

Romanian home lender Raiffeisen Banca pentru Locuinte (RBL) reported a profit for the first time in the first quarter of 2009, with a gross gain of 3 million lei, but will spend most of it this year on the merger with lender HVB BpL, declared for NewsIn the bank's head, Alexandru Ciobanu.

RBL estimates a gross profit of 4.5 million lei for the first semester.

According to Ciobanu, the lender plans to register a profit in the following five years starting with 2010 and to stay above the break-even point at year-end.

HVB Banca pentru Locuinte saw a loss of 6 million lei last year, while RBL ended 2008 with 500,000 euros in the red.

RBL also wants to finish the merger with HVB BpL by mid 2010, after receiving the central lender's approval at the end of March this year.

Raiffeisen Bank Romania, Raiffeisen Bausparkasse and Bausparkasse Schwäbisch Hall inked in July 2008 the takeover contract of home lender HVB Banca pentru Locuinte (HVB BpL), purchasing it from Vereinsbank Victoria Bauspar (VVB), Bank Austria Creditanstalt and UniCredit Tiriac Bank.

RBL closed down its 5 specialized units at the end of last year and is now operating through the units of Raiffeisen Bank and of one of its brokers.

The lender has a market share of 60 percent on the number of inked contracts. After taking over HVB BpL, Raiffeisen Banca pentru Locuinte has only a single competitor left on the Romanian market, home lender BCR Banca pentru Locuinte.

 

Sursa: http://www.newsin.ro

Tags: raiffeisen locuinte banca lender gross profit bcr

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