RBI: Consolidated profit excluding Russia and Belarus remains strong

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
The issuer is solely responsible for the content of this announcement.

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RBI: First Quarter Report 2024

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           Q1/202-  Q1/202-  Q4/2023
                                                    4        3
    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        (140)    (236)     (24)
    contributions
    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
     Balance Sheet in EUR million        31/3/2024    31/12/2023
     Loans to customers                    100,434        99,434
     Deposits from customers               120,938       119,353
     Total assets                          203,398       198,241
     Total risk-weighted assets (RWA)       95,601        93,664
     Bank-specific information                  31/3/202-    31/12/202-
                                                        4             3
     NPE Ratio                                       1.9%          1.9%
     NPE Coverage Ratio                             50.1%         51.7%
     CET1 ratio transitional (incl. profit)         17.3%         17.3%
     Total capital ratio transitional (incl.        21.6%         21.5%
     profit)
  Key ratios                                       Q1/2024  Q1/2023  Q4/2023
  Net interest margin (Ø interest-bearing assets)    2.98%    2.75%    3.06%
  Cost/Income Ratio                                  42.2%    38.2%    47.4%
  Provisioning ratio (Ø loans to customers)          0.22%    0.93%    0.61%
  Consolidated return on equity                      15.0%    15.8%     6.6%
  Earnings per share in EUR                           1.94     1.92     0.75

Outlook

The following guidance refers to RBI excluding Russia and Belarus. The 2024
guidance for the Group including Russia and Belarus has been suspended in
light of the ECB's requirements to accelerate business reduction in Russia
(see ad-hoc release from 18 April 2024).

   Outlook 2024                                                RBI excl.
                                                                   RU/BY
   Net interest income in EUR                              around 4.0 bn
   Net fee and commission income in EUR                    around 1.8 bn
   Loans to customers (growth)                                   3 to 4%
   General administrative expenses in EUR                  around 3.3 bn
   Cost/income ratio                                          around 52%
   Impairment losses on financial assets (before use of    around 50 bps
   overlays)
   Consolidated return on equity                              around 10%
   CET1 ratio                                              around 14.6%*
   *'P/B Zero' Russia deconsolidation scenario

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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02.05.2024 CET/CEST This Corporate News was distributed 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:    1893763

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1893763 02.05.2024 CET/CEST