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EQS-News: Raiffeisen Bank International AG
/ Key word(s): Half Year Results
Raiffeisen Bank International AG: Semi-Annual Financial Report 2023: Core revenues remain strong - Outlook updated
01.08.2023 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
RBI: Semi-Annual Financial Report 2023
Core revenues remain strong - Outlook updated
- Half-year profit after tax from continuing operations excluding Russia and Belarus broadly stable year-on-year despite very high portfolio-based provisions for litigations in Poland (EUR 424 million)
- Net interest income excluding Russia and Belarus up 4.2% quarter-on-quarter
- Net fee and commission income quarter-on-quarter up 4.4% and 5.2% in CE and SEE, respectively; offset by drop in GC&M
- Ongoing reduction of business in Russia: net fee and commission income down 47% quarter-on-quarter, loans to customers down 35% in local currency since the beginning of the war
- Risk costs significantly down year-on-year to EUR 259 million in H1/2023
- CET1 ratio at 15.9% (transitional, incl. result), excluding Russia 13.9%
- Core revenues outlook improves; expected ROE for 2023 unchanged due to higher provisions in Poland
| Income Statement in EUR million |
1-6/2023 |
1-6/2022 |
Q2/2023 |
Q1/2023 |
| Net interest income |
2,749 |
2,199 |
1,364 |
1,385 |
| Net fee and commission income |
1,698 |
1,565 |
732 |
966 |
| Net trading income and fair value result |
116 |
316 |
30 |
86 |
| General administrative expenses |
(1,995) |
(1,649) |
(1,045) |
(950) |
| Operating result |
2,661 |
2,500 |
1,152 |
1,509 |
| Other result |
(450) |
(108) |
(354) |
(96) |
| Governmental measures and compulsory contributions |
(237) |
(241) |
(2) |
(236) |
| Impairment losses on financial assets |
(259) |
(561) |
42 |
(301) |
| Profit/loss before tax |
1,715 |
1,590 |
838 |
877 |
| Profit/loss after tax from continuing operations |
1,327 |
1,299 |
627 |
700 |
| Profit/loss from discontinuing operations |
0 |
453 |
0 |
0 |
| Consolidated profit |
1,235 |
1,712 |
578 |
657 |
| Balance Sheet in EUR million |
30/6/2023 |
31/12/2022 |
| Loans to customers |
101,806 |
103,230 |
| Deposits from customers |
120,553 |
125,099 |
| Total assets |
206,123 |
207,057 |
| Total risk-weighted assets (RWA) |
99,207 |
97,680 |
| Bank-specific information |
30/6/2023 |
31/12/2022 |
| NPE Ratio |
1.5% |
1.6% |
| NPE Coverage Ratio |
57.6% |
59.0% |
| CET1 ratio |
15.9% |
16.0% |
| Total capital ratio |
20.0% |
20.2% |
| Key ratios |
1-6/2023 |
1-6/2022 |
Q2/2023 |
Q1/2023 |
| Net interest margin (Ø interest-bearing assets) |
2.74% |
2.37% |
2.74% |
2.75% |
| Cost/Income Ratio |
42.9% |
39.7% |
47.6% |
38.6% |
| Provisioning ratio (Ø loans to customers) |
0.37% |
0.86% |
(0.19%) |
0.93% |
| Consolidated return on equity |
14.9% |
25.5% |
14.1% |
15.8% |
| Earnings per share in EUR |
3.59 |
5.07 |
1.68 |
1.92 |
| Outlook 2023 |
RBI excl. RU/BY |
RBI |
| Net interest income in EUR |
3.8-4.0 bn |
5.3-5.4 bn |
| Net fee and commission income in EUR |
around 1.8 bn |
3.2-3.4 bn |
| Loans to customers (growth) |
around 2% |
~0% |
| General administrative expenses in EUR |
around 3.1 bn |
around 4.0 bn |
| Cost/income ratio |
51-53% |
43-45% |
| Impairment losses on financial assets (before use of overlays) |
around 45 bps |
up to 60 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 |
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For further information please contact:
John P. Carlson, CFA
Group Investor Relations
Raiffeisen Bank International AG
Am Stadtpark 9
1030 Vienna, Austria
phone 89
01.08.2023 CET/CEST This Corporate News was distributed by EQS Group AG.
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