Raiffeisenbank (Bulgaria) EAD had an excellent 1 half of 2003. It recorded BGN 11.4 million in operating profit, which is 2.24 times more than during the same period last year.

Loans disbursed to its customers exceeded BGN 501 million and continue growing strongly with an unchanged high quality of the portfolio. Raiffeisenbank continues to be one of the biggest financiers in the Bulgarian market. In addition to its traditional financing of big, medium and small corporate customers, retail lending showed strong increases with consumer loans doing especially well due to easy application procedures and attractive interest rates.

Total assets increased to BGN 673 million showing an increase by about 22 % during the first 6 months of 2003.

The branch network expanded further and now comprises 34 offices with the latest ones recently opened in Primorsko and Velingrad.