Raiffeisenbank (Bulgaria) AD reported 169% growth in its profit for 1Q 2003 compared to 1Q 2002. The profit of the bank as of 31/03/03 was 4,3 million leva.

The loan portfolio reached BGN 404 million and customer deposits grew to BGN 339 million, which is an increase by 54 % and 23 % in comparison to 31/03/02. Raiffeisenbank reported 17% growth in total assets reaching BGN 556 million.

Raiffeisenbank opened two new offices – in Dobrich and Veliko Tarnovo, since the beginning of the year, bringing their total number of currently 32. By the end of July 2003 the bank is to open new offices in Sofia, Burgas, Velingrad and Primorsko.

Since end of March Raiffeisenbank offers consumer loans up to BGN 10 000 with maximum term of 10 years.