“The net profit for the fiscal year is projected at 399 mln lei in 2009, based on Romanian accounting standards”, said the bank after the General Meeting of Shareholders.

In 2008, Raiffeisen Bank’s net profit stood at 721 mln lei, up 201% from a year earlier when it booked 239 mln lei, according to Romanian Accounting Standards (RAS).

Based on international financial reporting standards (IFRS), the audited net profit climbed to 614 mln lei, up 92.5% from 2007, when the bank posted 319 mln lei.

Raiffeisen Bank Romania’s assets volume reached 19.37 bln lei at the end of 2008, up 17.6% from 16.47 bln lei at the end of 2007.