EQS-News 105 0 Kommentare RBI: Consolidated profit excluding Russia and Belarus remains strong

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Consolidated profit remains strong excluding Russia and Belarus
Core revenues down 4% due to lower interest rates
Guidance for 2024 suspended for Group including Russia and Belarus

EQS-News: Raiffeisen Bank International AG / Key word(s): Quarter Results
RBI: Consolidated profit excluding Russia and Belarus remains strong

02.05.2024 / 07:30 CET/CEST
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RBI: First Quarter Report 2024

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Consolidated profit excluding Russia and Belarus remains strong

Consolidated profit of EUR 333 million, excluding Russia and Belarus and including EUR 109 million provisions for CHF mortgages in Poland

Core revenues excluding Russia and Belarus down 4% quarter-over-quarter to EUR 1,519 million, mainly driven by lower interest rates and seasonal effects

Lower provisioning for impairment losses: EUR 3 million for the Group excluding Russia and Belarus

CET1 ratio excluding Russia unchanged at 14.6% (Group CET1 ratio at 17.3%)

Customer loans in Russia down 58% since peak in Q2/2022 to EUR 5.8 billion as part of de-risking approach to Russia

The 2024 guidance for the Group including Russia and Belarus has been suspended in light of the ECB’s requirement to accelerate business reduction in Russia

Income Statement in EUR million	Q1/2024	Q1/2023	Q4/2023
Net interest income	1,455	1,385	1,494
Net fee and commission income	669	966	677
Net trading income and fair value result	17	86	(19)
General administrative expenses	(938)	(950)	(1,034)
Operating result	1,263	1,509	1,128
Other result	(147)	(96)	(317)
Governmental measures and compulsory contributions	(140)	(236)	(24)
Impairment losses on financial assets	(25)	(301)	(142)
Profit/loss before tax	952	877	645
Profit/loss after tax	721	700	304
Consolidated profit	664	657	272