from Raiffeisen International Bank-Holding AG (isin : AT0000606306)
RBI: Consolidated profit excluding Russia and Belarus remains strong
EQS-News: Raiffeisen Bank International AG / Key word(s): Quarter Results
RBI: Consolidated profit excluding Russia and Belarus remains strong
02.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
RBI: First Quarter Report 2024
Consolidated profit excluding Russia and Belarus remains strong
- Consolidated profit of EUR 333 million, excluding Russia and Belarus and including EUR 109 million provisions for CHF mortgages in Poland
- Core revenues excluding Russia and Belarus down 4% quarter-over-quarter to EUR 1,519 million, mainly driven by lower interest rates and seasonal effects
- Lower provisioning for impairment losses: EUR 3 million for the Group excluding Russia and Belarus
- CET1 ratio excluding Russia unchanged at 14.6% (Group CET1 ratio at 17.3%)
- Customer loans in Russia down 58% since peak in Q2/2022 to EUR 5.8 billion as part of de-risking approach to Russia
- The 2024 guidance for the Group including Russia and Belarus has been suspended in light of the ECB’s requirement to accelerate business reduction in Russia
| Income Statement in EUR million | Q1/2024 | Q1/2023 | Q4/2023 |
| Net interest income | 1,455 | 1,385 | 1,494 |
| Net fee and commission income | 669 | 966 | 677 |
| Net trading income and fair value result | 17 | 86 | (19) |
| General administrative expenses | (938) | (950) | (1,034) |
| Operating result | 1,263 | 1,509 | 1,128 |
| Other result | (147) | (96) | (317) |
| Governmental measures and compulsory contributions | (140) | (236) | (24) |
| Impairment losses on financial assets | (25) | (301) | (142) |
| Profit/loss before tax | 952 | 877 | 645 |
| Profit/loss after tax | 721 | 700 | 304 |
| Consolidated profit | 664 | 657 | 272 |
| Balance Sheet in EUR million | 31/3/2024 | 31/12/2023 |
| Loans to customers | 100,434 | 99,434 |
| Deposits from customers | 120,938 | 119,353 |
| Total assets | 203,398 | 198,241 |
| Total risk-weighted assets (RWA) | 95,601 | 93,664 |
| Bank-specific information | 31/3/2024 | 31/12/2023 |
| NPE Ratio | 1.9% | 1.9% |
| NPE Coverage Ratio | 50.1% | 51.7% |
| CET1 ratio transitional (incl. profit) | 17.3% | 17.3% |
| Total capital ratio transitional (incl. profit) | 21.6% | 21.5% |
| Key ratios | Q1/2024 | Q1/2023 | Q4/2023 |
| Net interest margin (Ø interest-bearing assets) | 2.98% | 2.75% | 3.06% |
| Cost/Income Ratio | 42.2% | 38.2% | 47.4% |
| Provisioning ratio (Ø loans to customers) | 0.22% | 0.93% | 0.61% |
| Consolidated return on equity | 15.0% | 15.8% | 6.6% |
| Earnings per share in EUR | 1.94 | 1.92 | 0.75 |
Outlook
The following guidance refers to RBI excluding Russia and Belarus. The 2024 guidance for the Group including Russia and Belarus has been suspended in light of the ECB’s requirements to accelerate business reduction in Russia (see ad-hoc release from 18 April 2024).
| Outlook 2024 | RBI excl. RU/BY |
| Net interest income in EUR | around 4.0 bn |
| Net fee and commission income in EUR | around 1.8 bn |
| Loans to customers (growth) | 3 to 4% |
| General administrative expenses in EUR | around 3.3 bn |
| Cost/income ratio | around 52% |
| Impairment losses on financial assets (before use of overlays) | around 50 bps |
| Consolidated return on equity | around 10% |
| CET1 ratio | around 14.6%* |
| *’P/B Zero’ Russia deconsolidation scenario |
For further information please contact:
John P. Carlson, CFA
Group Investor Relations
Raiffeisen Bank International AG
Am Stadtpark 9
1030 Vienna, Austria
ir@rbinternational.com
phone +43-1-71 707-2089
www.rbinternational.com
02.05.2024 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com
| Language: | English |
| Company: | Raiffeisen Bank International AG |
| Am Stadtpark 9 | |
| A-1030 Vienna | |
| Austria | |
| Phone: | +43-1-71707-2089 |
| Fax: | +43-1-71707-2138 |
| E-mail: | ir@rbinternational.com |
| Internet: | www.rbinternational.com |
| ISIN: | AT0000606306 |
| WKN: | A0D9SU |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange, SIX, Vienna Stock Exchange (Official Market) |
| EQS News ID: | 1893763 |
| End of News | EQS News Service |
1893763 02.05.2024 CET/CEST