EQS-Adhoc: Raiffeisen Bank International AG: Consolidated profit at EUR 442 million with prudent approach to risk costs

EQS-Ad-hoc: Raiffeisen Bank International AG / Key word(s): Quarter
Results
Raiffeisen Bank International AG: Consolidated profit at EUR 442 million
with prudent approach to risk costs

04-May-2022 / 07:31 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS – a service of EQS Group
AG.
The issuer is solely responsible for the content of this announcement.

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RBI: First Quarter Report 2022
Consolidated profit at EUR 442 million with prudent approach to risk costs
 

• Net interest income up 1% quarter-on-quarter, benefiting from higher
rates across the region
• Net fee and commission income up 22% quarter-on-quarter, driven
primarily by increased customer activity in FX business in Russia
• Net trading income at EUR 184 million, mainly from hedging instruments
and own credit spreads relating to certificates business
• Year-to-date provisioning ratio increased significantly to 0.97%,
largely driven by macro downgrades and special risk factors due to war
in Ukraine
• Loans grew 1% in the first quarter, new lending in Russia has largely
been stopped
• Consolidated profit improved 39% quarter-on-quarter to EUR 442 million
• CET1 ratio at 12.3% (transitional, including year-to-date result),
reflecting RWA increases from rating downgrades in Russia, Ukraine,
and Belarus
• Outlook has been updated to reflect lower loan growth and higher risk
cost assumptions

 

Income Statement in EUR million Q1/2022 Q1/2021 Q4/2021
Net interest income 986 736 976
Net fee and commission income 683 420 561
Net trading income and fair value result 184 4 24
General administrative expenses (792) (672) (856)
Operating result 1,089 543 763
Other result (102) (38) (175)
Governmental measures and compulsory contributions (159) (123) (32)
Impairment losses on financial assets (319) (76) (150)
Profit/loss before tax 508 306 406
Profit/loss after tax from continuing operations 440 229 329
Profit/loss from discontinuing operations 18 14 24
Consolidated profit 442 216 317

 

Balance Sheet in EUR million 31/03/2022 31/12/2021  
Loans to customers 101,966 100,832  
Deposits from customers 113,652 115,153  
Total assets 192,624 192,101  
Total risk-weighted assets (RWA) 104,017 89,928  

 
 
 

Key ratios 31/03/2022 31/12/2021  
NPE ratio 1.6% 1.6%  
NPE coverage ratio 61.8% 62.5%  
CET1 ratio (incl. result) 12.3%* 13.1%  
Total capital ratio (incl. result) 15.9%* 17.6%  

  *transitional

*transtiona

Key ratios Q1/2022 Q1/2021 Q4/2021
Net interest margin (average interest-bearing
assets) 2.21% 1.92% 2.22%
Cost/income ratio 42.1% 55.3% 52.9%
Provisioning ratio (average loans to customers) 0.97% 0.36% 0.55%
Consolidated return on equity 13.2% 6.5% 10.1%
Earnings per share in EUR 1.27 0.59 0.90

Due to the planned sale of the Bulgarian subsidiary bank and its
participation there has been a change in the statements according to IFRS
5. This business operation is classified as a disposal group held for sale
and reported separately in the statement of financial position. The prior
year figures have not been adapted. The income statement of the Bulgarian
subsidiary bank and its participation is reported under profit/loss from
discontinued operations. The prior year 2021 figures have been adapted
accordingly in the income statement, as were the key ratios.

Outlook
In 2022, net interest income is expected to increase by high single digit
per cent and net fee and commission income by mid-single digit per cent.
We expect stable loan volumes in 2022, with mid-single digit growth in
core CE and SEE markets.
We expect high single digit per cent OPEX growth plus an additional
approximately EUR 100 million integration cost for acquisitions in Czech
Republic (Equa bank) and Serbia (Crédit Agricole Srbija).
Cost/income ratio is expected around 55 %.
The provisioning ratio for 2022 is expected to be up to 100 basis points.
Consolidated return on equity is expected in the 8 to 10 per cent range.
In 2022, we expect the CET1 ratio to recover close to our 13 per cent
target.

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

 

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04-May-2022 CET/CEST News transmitted by EQS Group AG. www.eqs.com

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Language: English
Company: Raiffeisen Bank International AG
Am Stadtpark 9
A-1030 Vienna
Austria
Phone: +43-1-71707-2089
Fax: +43-1-71707-2138
E-mail: ir@rbinternational.com
Internet: www.rbinternational.com
ISIN: AT0000606306
WKN: A0D9SU
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange;
Luxembourg Stock Exchange, SIX, Vienna Stock Exchange
(Official Market)
EQS News ID: 1342783

 
End of Announcement EQS News Service

1342783  04-May-2022 CET/CEST