Raiffeisenbank (Bulgaria) AD has increased the amount of loans disbursed to its customers by 84 % since the beginning of this year. As of today the loan portfolio reached BGN 427.9 million and continues growing. During December another BGN 40 million are expected for disbursement. This makes Raiffeisenbank one of the biggest financiers in the Bulgarian market.

The growth stems mainly from increases in loans for existing customers, attraction of new big and medium sized companies as well as from the recently started micro-lending program for small companies and professionals. In the latter segment more than BGN 1 million in loans have already been approved since October which is significantly more than initially planned. The share of longer term credits for financing of investments is the fastest growing sector. Despite this enormous growth the exceptionally high quality of the loan portfolio has been maintained.

Raiffeisenbank’s operating profit for the first 11 months of 2002 increased to BGN 13.9 million, which is 222 % higher than during the same period of last year.

Next week Raiffeisenbank will also open its 30th branch in Montana thus fulfilling its program for branch expansion for the year.