Raiffeisenbank's net profit fell 26 percent to CZK 599 million this year

In the first quarter of 2021, Raiffeisenbank's net profit fell by 26 percent year on year to CZK 599 million. The reason was a coronavirus pandemic. The bank's assets increased by 17 percent to CZK 446 billion.

"I would primarily describe the first quarter of 2021 as an acquisition. At the beginning of February, we announced the signing of an agreement between RBI Group on the purchase of 100 percent of Equa bank shares, followed by the signing of an agreement to buy the Czech payment institution Akcenta and an exclusive cooperation agreement with ING. "said Raiffeisenbank CEO Igor Vida. According to him, the Czech Republic is one of the key markets where the parent company Raiffeisen Bank International is determined to continue growing.

Raiffeisenbank has been providing banking services in the Czech Republic since 1993. The majority shareholder is the Austrian financial institution Raiffeisen Bank International.