Austrian lender Raiffeisen Bank International has reported a net profit of EUR114m for the first quarter of 2016, a surge of 37.3% from EUR83m a year ago.

The bank’s pre-tax profit for the period stood at EUR229m, a 21.8% jump from EUR188m reported the first quarter of 2015.

Net interest income was EUR718m, a fall of 12.4% from EUR820m in the prior year. Net fee and commission income dropped 3.6% to EUR347m from EUR360m a year earlier.

The bank’s CET 1 ratio (fully loaded) was 11.5% at the end of the first quarter of 2016, flat compared to the previous quarter.

Its non-performing loan (NPL) ratio during the period was 11.4%, down from 11.9% in the previous quarter, the bank said in its earnings statement.

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