Raiffeisen Bank International AG / Key word(s): Half Year Results
Raiffeisen Bank International AG: Semi-Annual Financial Report 2022 Consolidated profit of EUR 1,712 million, including gain on the sale of Raiffeisenbank (Bulgaria)
01-Aug-2022 / 19:58 CET/CEST
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RBI: Semi-Annual Financial Report 2022
Consolidated profit of EUR 1,712 million, including gain on the sale of Raiffeisenbank (Bulgaria)
Net interest income up 23% quarter-on-quarter, due to higher rates in CE and SEE as well as EURRUB appreciation
Net fee and commission income up 29% quarter-on-quarter, in particular on the back of continued strong customer activity and FX business in Russia
Provisioning ratio increased significantly to 0.86% year-to-date, largely driven by the buildup of overlays and macro downgrades
Loans grew 7% year-to-date, supported by focus CE and SEE markets
Consolidated profit of EUR 1,712 million year-to-date, including net gain of EUR 453 million on the sale of the Bulgarian unit
CET1 ratio at 13.4% (transitional, including year-to-date result), including 75 bps from the sale of the Bulgarian unit, and despite RWA inflation and higher risk costs in Eastern Europe
Outlook has been updated
Income Statement in EUR million
Net interest income
Net fee and commission income
Net trading income and fair value result
General administrative expenses
Governmental measures and compulsory contributions
Impairment losses on financial assets
Profit/loss before tax
Profit/loss after tax from continuing operations
Profit/loss from discontinuing operations
Balance Sheet in EUR million
Loans to customers
Deposits from customers
Total risk-weighted assets (RWA)
NPE coverage ratio
CET1 ratio (incl. result)*
Total capital ratio (incl. result)*
*transitional, subject to ECB approval of the regulatory deconsolidation of the Bulgarian unit
Net interest margin (average interest-bearing assets)
Provisioning ratio (average loans to customers)
Consolidated return on equity
Earnings per share in EUR
The following guidance assumes no changes to the existing footprint. All options relating to Russia and Belarus remain on the table.
In 2022, net interest income is expected in a range of EUR 4.3 to EUR 4.7 billion and net fee and commission income of at least EUR 2.7 billion.
Excluding Russia and Belarus, net interest income and net fee and commission income are expected to improve by around 20 and 10 per cent, respectively in 2022.
We expect stable loan volumes for the second half of 2022, with selected growth still coming from Central and Southeastern Europe.
We expect OPEX in the range of EUR 3.3 to EUR 3.5 billion, including M&A integration costs, leading to an expected cost/income ratio of around 45 per cent.
The provisioning ratio for 2022 is expected to be up to 100 basis points.
Consolidated return on equity is expected to be at least 15 per cent in 2022.
In 2022, we expect the CET1 ratio to remain above our 13 per cent target.
Medium term return on equity and payout ratio targets are suspended due to current uncertainties in Eastern Europe.
For more information, please contact:
John P. Carlson, CFA
Group Investor Relations
Raiffeisen Bank International AG
Am Stadtpark 9
1030 Vienna, Austria
phone +43-1-71 707-2089
01-Aug-2022 CET/CEST News transmitted by EQS Group AG. www.eqs.com