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Raiffeisenbank posts CZK 1.6bn in net profits in 9M 2014

Raiffeisenbank posted net profit of CZK 1.6bn for the first nine months of 2014, up 6.5% y/y. Client loan portfolio grew 6.6% to CZK 165.3bn, while client deposits grew 6.5% to CZK 156.1bn. The bank’s capital adequacy totalled 13.6% as of the end of the monitored. Raiffeisenbank’s general director and board of directors chairman Mario Drosc has stated that the y/y increase in net profit was influenced primarily by cost discipline, good control over credit risk and higher interest earnings. On the other hand, the income from fees has dropped, despite higher sales.