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Raiffeisen net profit jumps as income rises, write-downs shrink
May 17, 2017 / 6:02 AM / 6 months ago

Raiffeisen net profit jumps as income rises, write-downs shrink

VIENNA, May 17 (Reuters) - Austrian lender Raiffeisen Bank International’s first-quarter net profit came in higher than expected as its net interest income increased and write-downs shrank, it said, citing improving economic conditions in many of its markets.

The bank, which operates across eastern Europe, said on Wednesday net profit in the three months through March almost doubled to 220 million euros ($244 million) from 111 million euros a year earlier, beating an average forecast of 151 million euros in a Reuters poll of analysts. ($1 = 0.9007 euros) (Reporting by Francois Murphy; Editing by Biju Dwarakanath)

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