During 2006, assets expanded by 42.6% to €376.4m through active lending to both individuals and businesses, especially the recently privatised companies.
During 2006, Raiffeisen International injected €10m in additional capital into the bank to finance accelerating growth, leading to a doubling of Tier 1 capital to €33.4m. This caused RoE to decline slightly but still come in at a very acceptable 36.1%. The cost-income ratio improved considerably to 46.2% as a result of strong interest income. Lending and deposit volumes grew by 36% and 37% respectively bringing an additional 3% market share in both areas.
Over the past year or more, Raiffeisen Bank Kosovo introduced new products into the market, including the Visa revolving credit card in June this year, a 15-year tenure mortgage loan in 2006 and a mobile banking service, which was new for the sector.
The bank operates a network of 35 branches and sub-branches across Kosovo which are connected online, 50 ATMs, more than 800 PoSs for card purchases, and a 24-hour call centre and e-banking facility.
“This prestigious award confirms the validity of our strategy and recognises our significant position in the banking sector in Kosovo,” says CEO Oliver Whittle. “We have been continuously focused on providing a high standard of banking products and services to both retail and corporate segments. The bank has also been innovative by introducing new products and services to the market.”