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EQS-Ad-hoc: Raiffeisen Bank International AG / Key word(s): 9 Month figures
Raiffeisen Bank International AG: RBI 1-9/2024: EUR 856 million consolidated profit excluding Russia and Belarus, FY 2024 ROE guidance revised down on higher Poland provisions
29-Oct-2024 / 18:14 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
RBI 1-9/2024: EUR 856 million consolidated profit excluding Russia and Belarus, FY 2024 ROE guidance revised down on higher Poland provisions
- Consolidated profit of EUR 856 million excluding Russia and Belarus, including EUR 493 million provisions for CHF and EUR mortgage loans in Poland
- Core revenues excluding Russia and Belarus slightly down at EUR 1,481 million quarter-over-quarter, reflecting muted business activity in Q3
- Provisioning ratio for the Group excluding Russia and Belarus stable at around 30 bps in Q3
- CET1 ratio excluding Russia improves to 15.3% (Group CET1 ratio unchanged at 17.8%)
- Russia: Significant de-risking accelerates – customer loans down almost 67% since peak in Q2/2022 and down 23% quarter-over-quarter, current account deposits down 26% quarter-over-quarter
- ROE guidance for 2024 adjusted to 7.5%, excluding Russia and Belarus
| Income Statement in EUR million |
1-9/2024 |
1-9/2023 |
Q3/2024 |
Q2/2024 |
| Net interest income |
4,355 |
4,190 |
1,461 |
1,440 |
| Net fee and commission income |
2,077 |
2,364 |
686 |
722 |
| Net trading income and fair value result |
98 |
205 |
39 |
42 |
| General administrative expenses |
(2,893) |
(2,874) |
(970) |
(986) |
| Operating result |
3,821 |
4,030 |
1,286 |
1,271 |
| Other result |
(571) |
(589) |
(164) |
(260) |
| Governmental measures and compulsory contributions |
(191) |
(259) |
(30) |
(21) |
| Impairment losses on financial assets |
(94) |
(251) |
(46) |
(23) |
| Profit/loss before tax |
2,966 |
2,931 |
1,047 |
967 |
| Profit/loss after tax from continuing operations |
2,253 |
2,274 |
817 |
715 |
| Consolidated profit |
2,083 |
2,114 |
758 |
661 |
| Financial statement in EUR million |
30/9/2024 |
31/12/2023 |
| Loans to customers |
100,105 |
99,434 |
| Deposits from customers |
120,300 |
119,353 |
| Total assets |
205,981 |
198,241 |
| Total risk-weighted assets (RWA) |
97,736 |
93,664 |
| Bank-specific information |
30/9/2024 |
31/12/2023 |
| NPE Ratio |
2.0% |
1.9% |
| NPE Coverage Ratio |
51.8% |
51.7% |
| CET1 ratio transitional (incl. profit) |
17.8% |
17.3% |
| Total capital ratio transitional (incl. profit) |
22.0% |
21.5% |
| Key ratios |
1-9/2024 |
1-9/2023 |
Q3/2024 |
Q2/2024 |
| Net interest margin (Ø interest-bearing assets) |
2.96% |
2.81% |
2.97% |
2.92% |
| Cost/Income Ratio |
42.7% |
41.2% |
42.6% |
43.2% |
| Provisioning ratio (Ø loans to customers) |
0.25% |
0.25% |
0.27% |
0.27% |
| Consolidated return on equity |
15.9% |
17.4% |
17.7% |
15.1% |
| Earnings per share in EUR |
6.09 |
6.19 |
2.22 |
1.93 |
Outlook
The following guidance refers to RBI excluding Russia and Belarus. The 2024 guidance for RBI including Russia and Belarus has been suspended in light of the accelerated business reduction in Russia.
| Outlook 2024 |
RBI excl. RU/BY |
| Net interest income in EUR |
around 4.1 bn |
| Net fee and commission income in EUR |
around 1.8 bn |
| Loans to customers (growth) |
4 to 5% |
| General administrative expenses in EUR |
around 3.3 bn |
| Cost/income ratio |
around 52% |
| Provisioning ratio (before use of overlays) |
up to 35 bps |
| Consolidated return on equity |
around 7.5% |
| CET1 ratio |
around 14.7%* |
| *’P/B Zero’ Russia deconsolidation scenario |
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For further information please contact:
John P. Carlson, CFA
Head of 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
End of Inside Information
29-Oct-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com
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