Home » Technology » Raiffeisenbank’s profit in the Czech Republic halved to 1.7 billion

Raiffeisenbank’s profit in the Czech Republic halved to 1.7 billion

The bank’s total operating income fell by 12.3 percent to 7.72 billion crowns. Of this, net interest income amounted to 5.6 billion crowns, which represents a year-on-year decrease of 13.8 percent.

Operating costs reached 4.7 billion crowns, which is 1.4 percent less than in the same period last year. According to the bank, this decline is due to a reduction in marketing expenses and staff costs.

Raiffeisenbank has been operating on the Czech market since 1993. Its majority shareholder is the Austrian institution Raiffeisen Bank International AG.

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The building of Raiffeisen Bank International, the mother of the Czech Raiffeisenbank, in Vienna.

Photo: Leonhard Foeger, Reuters

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