Profit after tax rose by 8.3% to €733m during the first six months of 2012, compared to €677m during the comparable period last fiscal.

The bank posted consolidated profit advanced of €497m, up by 1.8% from €488m during the same period a year ago.

For the first half of the year ended on 30 June 2012, its operating income stood at €2.6bn, with a fall of 4.5% during the same period of 2011.

Compared to year-end 2011, the balance sheet total grew by 4.8% to almost €157.2bn, while the Core Tier 1 ratio also increased from 9.1% to 10.6% during the period under review.

Since the beginning of the year, the stock of non-performing loans has grown by €1.2bn, with €478m of this stemming from the first-time consolidation of Polbank, said the Austrian lender.

RZB CEO Walter Rothensteiner said "During the first half-year, one of the challenges was to fulfil the new regulatory requirements in terms of the Core Tier 1 ratio. In doing so, RZB has consistently followed the goal of satisfying the EBA requirements without the help of the state or having to resort to the capital market."

Raiffeisen Zentralbank Österreich (RZB) is the central institution of the Austrian Raiffeisen Banking Group, including Raiffeisen Bank International (RBI).