Raiffeisenbank Bulgaria

Raiffeisen Bulgaria's net profit fell 1.05% to BGN 137 mil in 2017

By Helgi Analytics - September 2, 2018

Raiffeisenbank Bulgaria made a net profit of BGN 137 mil under revenues of BGN 314 mil in 2017, up -1.05% and -4.08% respectively com...

Raiffeisen Bulgaria's net interest margin fell 9.01% to 3.00% in 2017

By Helgi Analytics - September 2, 2018

Raiffeisenbank Bulgaria's net interest margin amounted to 3.00% in 2017, down from 3.30% compared to the previous year. Hi...

Raiffeisen Bulgaria's customer deposits rose 13.6% to BGN 5,377 mil in 2017

By Helgi Analytics - September 2, 2018

Raiffeisenbank Bulgaria's customer deposits reached BGN 5,377 mil in 2017, up 13.6% compared to the previous year. Bulgarian ba...

Profit Statement 2015 2016 2017
Net Interest Income BGN mil 213 214 206
Fee Income (As % Of Revenues) % 22.8 21.8 24.3
Other Income BGN mil 24.7 42.3 32.1
Total Revenues BGN mil 308 328 314
Staff Cost BGN mil 70.9 75.2 77.5
Operating Profit BGN mil 130 155 142
Provisions BGN mil 60.9 1.09 -10.4
Net Profit BGN mil 62.6 139 137
Balance Sheet 2015 2016 2017
Interbank Loans BGN mil 783 383 347
Customer Loans BGN mil 3,555 3,980 4,420
Debt Securities BGN mil 777 1,003 1,017
Total Assets BGN mil 6,463 6,511 7,199
Shareholders' Equity BGN mil 920 916 931
Interbank Borrowing BGN mil 349 31.8 59.9
Customer Deposits BGN mil 4,753 4,735 5,377
Issued Debt Securities BGN mil 368 753 705
Ratios 2015 2016 2017
ROE % 6.81 15.1 14.9
ROA % 1.01 2.14 2.00
Costs (As % Of Assets) % 2.86 2.67 2.51
Costs (As % Of Income) % 57.7 52.7 54.8
Capital Adequacy Ratio % 36.5 32.2 31.6
Net Interest Margin % 3.42 3.30 3.00
Loans (As % Of Deposits) % 74.8 84.1 82.2
NPLs (As % Of Loans) % 11.0 7.05 4.33
Provisions (As % Of NPLs) % 66.3 83.0 89.0
Growth Rates 2015 2016 2017
Total Revenue Growth % -6.73 6.38 -4.08
Operating Cost Growth % 1.89 -2.80 -0.322
Operating Profit Growth % -16.4 18.9 -8.27
Net Profit Growth % 33.3 122 -1.06
Customer Loan Growth % -1.57 11.9 11.1
Total Asset Growth % 7.99 0.729 10.6
Customer Deposit Growth % 12.4 -0.378 13.6
Shareholders' Equity Growth % 0.182 -0.401 1.64
Employees 2,767 2,736 2,711

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summary Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                                  
Net Interest Income BGN mil                     280 233 227 236 213    
Total Revenues BGN mil                     375 324 313 330 308    
Operating Profit BGN mil ...                   188 144 124 156 130    
Net Profit BGN mil                     50.4 3.31 -45.0 46.9 62.6    
balance sheet                                  
Interbank Loans BGN mil                     542 355 449 394 783    
Customer Loans BGN mil                     4,606 4,482 4,188 3,612 3,555    
Debt Securities BGN mil                     837 748 749 936 777    
Total Assets BGN mil                     6,544 6,177 5,963 5,985 6,463    
Shareholders' Equity BGN mil                     958 918 871 918 920    
Interbank Borrowing BGN mil                     909 601 595 394 349    
Customer Deposits BGN mil                     4,356 4,362 4,169 4,230 4,753    
Issued Debt Securities BGN mil                     179 187 253 366 368    
ratios                                  
ROE %                     5.32 0.353 -5.03 5.25 6.81    
ROA %                     0.768 0.052 -0.741 0.786 1.01    
Costs (As % Of Assets) % ...                   2.86 2.82 3.12 2.92 2.86    
Costs (As % Of Income) % ...                   50.0 55.4 60.4 52.8 57.7    
Capital Adequacy Ratio % ... ...                 17.6 17.1 19.2 36.7 36.5    
Net Interest Margin %                     4.27 3.66 3.74 3.95 3.42    
Interest Income (As % Of Revenues) %                     74.6 71.8 72.5 71.5 69.1    
Fee Income (As % Of Revenues) %                     15.8 18.5 19.9 20.2 22.8    
Staff Cost (As % Of Total Cost) % ...                   41.8 40.6 37.6 39.8 39.9    
Equity (As % Of Assets) %                     14.6 14.9 14.6 15.3 14.2    
Loans (As % Of Deposits) %                     106 103 100 85.4 74.8    
Loans (As % Assets) %                     70.4 72.6 70.2 60.4 55.0    
NPLs (As % Of Loans) % ... ... ... ... ...           8.18 8.28 8.40 5.93 11.0    
Provisions (As % Of NPLs) % ... ... ... ... ...           89.4 109 118 130 66.3    
income statement Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                                  
Interest Income BGN mil                     432 367 321 299 245    
Interest Cost BGN mil                     152 135 93.5 62.4 32.0    
Net Interest Income BGN mil                     280 233 227 236 213    
Net Fee Income BGN mil                     59.4 59.9 62.3 66.8 70.4    
Other Income BGN mil                     35.9 31.5 23.9 27.3 24.7    
Total Revenues BGN mil                     375 324 313 330 308    
Staff Cost BGN mil ...                   78.4 73.0 71.1 69.5 70.9    
Depreciation BGN mil ...                   22.2 21.7 20.7 15.5 11.3    
Other Cost BGN mil                     87.0 84.8 97.3 89.5 95.6    
Operating Cost BGN mil ...                   188 179 189 175 178    
Operating Profit BGN mil ...                   188 144 124 156 130    
Provisions BGN mil                     132 141 174 103 60.9    
Extra and Other Cost BGN mil ...                   0 < 0.001 0.010 0.361 0    
Pre-Tax Profit BGN mil                     55.9 3.61 -49.8 52.1 69.4    
Tax BGN mil                     5.54 0.297 -4.81 5.12 6.85    
Minorities BGN mil                     0 0 0 0 0    
Net Profit BGN mil                     50.4 3.31 -45.0 46.9 62.6    
growth rates                                  
Net Interest Income Growth % ...                   -5.06 -17.0 -2.30 3.99 -9.81    
Net Fee Income Growth % ...                   7.85 0.909 3.96 7.28 5.33    
Total Revenue Growth % ...                   -3.32 -13.7 -3.26 5.43 -6.73    
Operating Cost Growth % ... ...                 1.27 -4.34 5.37 -7.70 1.89    
Operating Profit Growth % ... ...                 -7.50 -23.1 -14.0 25.4 -16.4    
Pre-Tax Profit Growth % ...                   13.2 -93.5 -1,479 -205 33.4    
Net Profit Growth % ...                   13.3 -93.4 -1,457 -204 33.3    
market share                                  
Market Share in Revenues %                     9.55 8.49 8.45 8.47 7.47    
Market Share in Net Profit %                     10.6 0.631 ... 6.61 6.97    
Market Share in Employees % ... ...                 10.2 9.88 9.56 9.20 9.03    
Market Share in Bank Cards % ... ... ... ... ... ... ...       6.01 5.69 5.95 6.33 6.45    
Market Share in Branches % ... ... ...               4.90 4.72 4.40 4.14 3.99    
balance sheet Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                                  
Cash BGN mil                     475 517 506 929 1,276    
Interbank Loans BGN mil                     542 355 449 394 783    
Customer Loans BGN mil                     4,606 4,482 4,188 3,612 3,555    
Retail Loans BGN mil                     1,381 1,374 1,569 1,484 1,382    
Mortgage Loans BGN mil ... ... ... ... ...           729 698 824 771 741    
Consumer Loans BGN mil ... ... ... ... ...           549 590 666 641 641    
Corporate Loans BGN mil                     3,589 3,552 3,082 2,429 2,388    
Debt Securities BGN mil                     837 748 749 936 777    
Fixed Assets BGN mil                     63.7 48.2 35.2 27.2 42.2    
Total Assets BGN mil                     6,544 6,177 5,963 5,985 6,463    
Shareholders' Equity BGN mil                     958 918 871 918 920    
Of Which Minority Interest BGN mil                     0 0 0 0 0    
Liabilities BGN mil                     5,586 5,259 5,092 5,067 5,544    
Interbank Borrowing BGN mil                     909 601 595 394 349    
Customer Deposits BGN mil                     4,356 4,362 4,169 4,230 4,753    
Retail Deposits BGN mil                     2,151 2,217 2,162 2,366 2,653    
Corporate Deposits BGN mil                     2,205 2,145 2,008 1,864 2,100    
Sight Deposits BGN mil ... ... ... ... ... ... ... ... ... ... ... ... 2,152 2,347 3,024    
Term Deposits BGN mil ... ... ... ... ... ... ... ... ... ... ... ... 2,017 1,883 1,729    
Issued Debt Securities BGN mil                     179 187 253 366 368    
Other Liabilities BGN mil                     142 108 74.6 78.2 74.3    
asset quality                                  
Non-Performing Loans BGN mil ... ... ... ... ...           407 408 391 232 421    
Gross Loans BGN mil                     4,970 4,926 4,651 3,913 3,834    
Total Provisions BGN mil                     364 443 463 301 279    
growth rates                                  
Customer Loan Growth % ...                   7.57 -2.68 -6.57 -13.8 -1.57    
Retail Loan Growth % ...                   8.91 -0.517 14.2 -5.41 -6.83    
Mortgage Loan Growth % ... ... ... ... ... ...         3.40 -4.18 18.0 -6.46 -3.87    
Consumer Loan Growth % ... ... ... ... ... ...         20.7 7.38 12.9 -3.76 0.121    
Corporate Loan Growth % ...                   8.41 -1.02 -13.2 -21.2 -1.68    
Total Asset Growth % ...                   -0.396 -5.61 -3.46 0.367 7.99    
Shareholders' Equity Growth % ...                   2.24 -4.16 -5.13 5.39 0.182    
Customer Deposit Growth % ...                   5.71 0.137 -4.42 1.46 12.4    
Retail Deposit Growth % ...                   9.85 3.05 -2.50 9.47 12.1    
Corporate Deposit Growth % ...                   1.94 -2.71 -6.42 -7.16 12.7    
market share                                  
Market Share in Customer Loans %                     8.50 8.05 7.50 7.01 7.01    
Market Share in Corporate Loans %                     10.7 10.1 8.78 7.83 7.84    
Market Share in Retail Loans % ... ... ... ... ...           5.48 6.03 6.75 6.65 6.76    
Market Share in Consumer Loans %                     7.31 7.34 8.40 8.07 7.62    
Market Share in Mortgage Loans % ... ... ... ... ...           8.21 7.81 9.33 8.81 8.57    
Market Share in Total Assets %                     10.9 9.57 8.55 8.53 8.49    
Market Share in Customer Deposits %                     8.15 7.53 6.63 6.59 7.11    
Market Share in Retail Deposits %                     6.97 6.43 5.73 6.03 6.23    
Market Share in Corporate Deposits %                     16.1 15.0 13.0 12.1 11.5    
ratios Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                                  
ROE %                     5.32 0.353 -5.03 5.25 6.81    
ROA %                     0.768 0.052 -0.741 0.786 1.01    
Costs (As % Of Assets) % ...                   2.86 2.82 3.12 2.92 2.86    
Costs (As % Of Income) % ...                   50.0 55.4 60.4 52.8 57.7    
Capital Adequacy Ratio % ... ...                 17.6 17.1 19.2 36.7 36.5    
Tier 1 Ratio % ... ...                 16.0 16.3 16.9 26.1 25.4    
Net Interest Margin %                     4.27 3.66 3.74 3.95 3.42    
Interest Spread % ...                   3.88 3.29 3.48 3.77 3.33    
Asset Yield %                     6.59 5.77 5.28 5.00 3.94    
Cost Of Liabilities % ...                   2.71 2.48 1.81 1.23 0.603    
Interest Income (As % Of Revenues) %                     74.6 71.8 72.5 71.5 69.1    
Fee Income (As % Of Revenues) %                     15.8 18.5 19.9 20.2 22.8    
Other Income (As % Of Revenues) %                     9.57 9.72 7.63 8.27 8.01    
Cost Per Employee USD per month ... ...                 1,337 1,206 1,284 1,308 1,254    
Cost Per Employee (Local Currency) BGN per month ... ...                 1,881 1,836 1,892 1,985 2,135    
Staff Cost (As % Of Total Cost) % ...                   41.8 40.6 37.6 39.8 39.9    
Equity (As % Of Assets) %                     14.6 14.9 14.6 15.3 14.2    
Loans (As % Of Deposits) %                     106 103 100 85.4 74.8    
Loans (As % Assets) %                     70.4 72.6 70.2 60.4 55.0    
NPLs (As % Of Loans) % ... ... ... ... ...           8.18 8.28 8.40 5.93 11.0    
Provisions (As % Of NPLs) % ... ... ... ... ...           89.4 109 118 130 66.3    
Provisions (As % Of Loans) %                     7.90 9.89 11.0 8.33 7.85    
Cost of Provisions (As % Of Loans) %                     2.97 3.10 4.01 2.65 1.70    
other data Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                                  
Branches ... ...                 185 181 166 154 147    
Employees ... ...                 3,474 3,312 3,133 2,917 2,767    
ATMs ... ... ... ... ...           613 613 580 590 570    
Clients mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Payment Cards '000 ... ... ... ... ... ... ...       480 470 460 465 470    
Sight (As % Of Customer Deposits) % ... ... ... ... ... ... ... ... ... ... ... ... 51.6 55.5 63.6    

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Raiffeisen Bulgaria's consumer loans rose 18.4% to BGN 1,033 mil in 2017

By Helgi Analytics - September 20, 2018

Raiffeisenbank Bulgaria's consumer loans reached BGN 1,033 mil in 2017, up 18.4% compared to the previous year. Bulgarian banking sector provided consumer loans of BGN 10.2 bil in 2017, up 4.82% when compared to the last year. Raiffeisenbank Bulgaria acco...

Raiffeisen Bulgaria's retail deposits rose 10.8% to BGN 3,015 mil in 2017

By Helgi Analytics - September 20, 2018

Raiffeisenbank Bulgaria's retail deposits reached BGN 3,015 mil in 2017, up 10.8% compared to the previous year. Bulgarian banking sector accepted retail deposits of BGN 47.8 bil in 2017, up 5.40% when compared to the last year. Raiffeisenbank Bulgaria ac...

Raiffeisen Bulgaria's capital adequacy ratio fell 2.11% to 31.6% in 2017

By Helgi Analytics - September 2, 2018

Raiffeisenbank Bulgaria's capital adequacy ratio reached 31.6% at the end of 2017, down from 32.2% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 36.7% in 2014 and an all time low of 6.62% in 2003. The Tier 1 rat...

Raiffeisen Bulgaria's mortgage loans rose 4.72% to BGN 823 mil in 2017

By Helgi Analytics - September 20, 2018

Raiffeisenbank Bulgaria's mortgage loans reached BGN 823 mil in 2017, up 4.72% compared to the previous year. Bulgarian banking sector provided mortgage loans of BGN 9.45 bil in 2017, up 7.40% when compared to the last year. Raiffeisenbank Bulgaria accoun...

Raiffeisen Bulgaria's npls (as % of loans) fell 38.6% to 4.33% in 2017

By Helgi Analytics - September 2, 2018

Raiffeisenbank Bulgaria's non-performing loans reached 4.33% of total loans at the end of 2017, down from 7.05% compared to the previous year. Historically, the NPL ratio hit an all time high of 11.0% in 2015 and an all time low of 0.467% in 2007. Provision...

Raiffeisen Bulgaria's total revenues fell 4.08% to BGN 314 mil in 2017

By Helgi Analytics - September 20, 2018

Raiffeisenbank Bulgaria generated total banking revenues of BGN 314 mil in 2017, down 4.08% compared to the previous year. Bulgarian banking sector banking sector generated total revenues of BGN 3,870 mil in 2017, down 4.62% when compared to the last ...

Raiffeisen Bulgaria's employees fell 0.914% to 2,711 in 2017

By Helgi Analytics - September 2, 2018

Raiffeisenbank Bulgaria employed 2,711 persons in 2017, down 0.914% when compared to the previous year. Historically, the bank's workforce hit an all time high of 3,703 persons in 2008 and an all time low of 598 in 2003. Average cost reached USD 1,366 per month p...

Raiffeisen Bulgaria's customer loans rose 11.1% to BGN 4,420 mil in 2017

By Helgi Analytics - September 2, 2018

Raiffeisenbank Bulgaria's customer loans reached BGN 4,420 mil in 2017, up 11.1% compared to the previous year. Bulgarian banking sector provided customer loans of BGN 59.7 bil in 2017, up 6.73% when compared to the last year. Raiffeisenbank Bulgaria acco...

Raiffeisen Bulgaria's payment cards rose 4.17% to 500 '000 in 2017

By Helgi Analytics - September 27, 2018

Raiffeisenbank Bulgaria has issued total of 500 '000 payment cards at the end of 2017, up 4.17% compared to the previous year. Bulgarian banking sector banking sector issued total of 7,532 thous. of bank cards in 2017, down 2.15% when compared to ...

Raiffeisen Bulgaria's branches fell 1.47% to 134 in 2017

By Helgi Analytics - September 2, 2018

Raiffeisenbank Bulgaria employed 2,711 persons in 2017, down 0.914% compared to the previous year. Historically, the bank's workforce hit an all time high of 3,703 persons in 2008 and an all time low of 1,921 in 2006. The bank operated a network of 134 bra...

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Raiffeisenbank (Bulgaria) EAD is a Bulgaria-based medium-sized universal bank. The Bank offers its financial products and services to private customers, small and medium size enterprises, and large corporates. At the end of 2013, the Bank had some 166 branches and 580 ATMs and employed nearly 3,200 persons. The Bank was founded in 1994 and is headquartered in Sofia, Bulgaria. Raiffeisenbank Bulgaria EAD is fully consolidated subsidiary of Raiffeisen Bank International AG (RBI), which is one of the biggest players in the emerging Europe. RBI now operates in 17 different countries, employes about 60,000 people and services approximatelly 14.4 million customers through more than 3,100 branches.

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Finance

Raiffeisenbank Bulgaria has been growing its revenues and asset by 2.58% and 1.84% a year on average in the last 10 years. Its loans and deposits have grown by 3.35% and 3.95% a year during that time and loans to deposits ratio reached 82.2% at the end of 2017. The company achieved an average return on equity of 7.15% in the last decade with net profit growing 2.37% a year on average. In terms of operating efficiency, its cost to income ratio reached 54.8% in 2017, compared to 53.7% average in the last decade.

Equity represented 12.9% of total assets or 21.1% of loans at the end of 2017. Raiffeisenbank Bulgaria's non-performing loans were 4.33% of total loans while provisions covered some 89.0% of NPLs at the end of 2017.