Raiffeisen Bank International AG / Key word(s): Quarter Results
Raiffeisen Bank International AG: First Quarter Report 2023 – Core revenues and earnings remain strong – FY 2023 ROE guidance increased
04-May-2023 / 19:21 CET/CEST
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RBI: First Quarter Report 2023 Core revenues and earnings remain strong – FY 2023 ROE guidance increased Net interest income excluding Russia and Belarus stable quarter-on-quarter, while decreasing in Russia and Belarus Net fee and commission income excluding Russia and Belarus down 5% quarter-on-quarter, largely due to seasonality, significant decrease in Russia Risk costs of EUR 301 million, largely driven by EUR 278 million in Russia and Belarus CET1 ratio at 16.0% (transitional, incl. result), excluding Russia 13.7% ROE guidance increased on the back of better core revenue expectations
Income Statement in EUR million | Q1/2023 | Q1/2022 | Q4/2022 | Net interest income | 1,385 | 986 | 1,462 | Net fee and commission income | 966 | 683 | 1,196 | Net trading income and fair value result | 86 | 184 | 192 | General administrative expenses | (950) | (792) | (978) | Operating result | 1,509 | 1,089 | 1,882 | Other result | (96) | (102) | (442) | Governmental measures and compulsory contributions | (236) | (159) | (52) | Impairment losses on financial assets | (301) | (319) | (228) | Profit/loss before tax | 877 | 508 | 1,160 | Profit/loss after tax | 700 | 458 | 890 | Consolidated profit | 657 | 442 | 826 |
Balance Sheet in EUR million | 31/3/2023 | 31/12/2022 | | Loans to customers | 105,336 | 103,230 | | Deposits from customers | 124,776 | 125,099 | | Total assets | 210,977 | 207,057 | | Total risk-weighted assets (RWA) | 98,592 | 97,680 | |
Bank-specific information | 31/3/2023 | 31/12/2022 | | NPE ratio | 1.5% | 1.6% | | NPE coverage ratio | 58.2% | 59.0% | | CET1 ratio | 16.0% | 16.0% | | Total capital ratio | 20.2% | 20.2% | |
Key ratios | Q1/2023 | Q1/2022 | Q4/2022 | Net interest margin (average interest-bearing assets) | 2.75% | 2.21% | 2.85% | Cost/income ratio | 38.6% | 42.1% | 34.2% | Provisioning ratio (average loans to customers) | 0.93% | 0.97% | 0.90% | Consolidated return on equity | 15.8% | 13.2% | 24.1% | Earnings per share in EUR | 1.92 | 1.27 | 2.44 |
Outlook 2023 | RBI excl. RU/BY | RBI | Net interest income in EUR | 3.6-3.7 bn | 5.3-5.4 bn | Net fee and commission income in EUR | around 1.7 bn | 3.2-3.4 bn | Loans to customers (growth) | around 2% | ~0% | General administrative expenses in EUR | around 3.0 bn | around 3.8 bn | Cost/income ratio | 51-53% | 41-43% | Impairment losses on financial assets (before use of overlays) | around 60 bps | up to 90 bps | Consolidated return on equity | around 10% | around 17% | CET1 ratio at year-end 2023 | above 13.5%* | above 16% |
* ‘P/B Zero’ Russia deconsolidation scenario Any decision on dividends will be based on the capital position of the Group excluding Russia. Medium term return on equity and payout ratio targets are suspended due to current uncertainties in Eastern Europe. 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
End of Inside Information
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