Positive surprise in Q3
RBI reported a net profit of EUR 259 mln, EUR 20 mln above market expectations and a 21.6% increase QoQ. Better results came from lower OPEX, less credit-linked provisions for litigation and abolished bank levies. RBI has made EUR 679 mln so far in FY2020.
Net interest income declined 6.6% QoQ due to low rates. NIM decline was mainly driven by EE region and CZ, especially RU and Ukraine, where it went down by 10.9%, 14.5% and 10.9%, respectively. GC&M was down EUR 19 mln on lower volumes in loans and repos and lower NII from trading derivatives.
Raiffeisen Bank International is a universal bank focusing on corporate and retail customers in Central and Eastern Europe (CEE) and on corporate customers in Austria. In CEE, Co. consists of a network of banks, leasing companies and financial service providers. In Austria, Co. is involved in corporate finance and export and trade finance banks. Co. provides services to customers in 2,800 branch offices. In the retail banking business, Co.'s product and service portfolio comprises inter alia credit services (mortgages, credit cards and personal loans), as well as payment transaction and current account package services. As of Dec 31 2014, Co.'s total assets amounted to Euro121.6 million
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.