If one deducts the business in Russia and Belarus and the proceeds from the sale of the Bulgarian business, a profit of EUR 811 million remains, the bank announced on Wednesday evening.
At EUR 3.6 billion, net interest income for the first three quarters was half that of the same period of the previous year and is expected to rise to EUR 4.8 billion for the year as a whole. The outlook has thus been slightly increased. Net commission income has almost doubled to EUR 2.68 billion, for the year as a whole RBI now with 3.7 billion euros. Three months ago, 2.7 billion euros had been expected here.
CEO Johann Strobl points out in a press release that Raiffeisenbank in Russia has reduced its lending volume by a quarter. “We are consistently continuing our intensive work on evaluating the strategic options for the future of Raiffeisenbank Russia, including a carefully managed exit from Russia,” said Strobl. Excluding Russia and Belarus, net interest income for the first nine months was EUR 2.4 billion and net commission income was EUR 1.28 billion.
the RBI expects stable loan volume in fourth quarter, with continued selective growth in Central and Southeastern Europe. The costs as a proportion of income (cost/income ratio) should be around 40 percent, the hard core capital ratio at the end of the year over 14 percent. The target for the CET1 capital ratio will be increased to 13.5 percent from January 2023 and to 14 percent by the end of 2023. The mid-term return on equity and payout ratio targets are suspended due to the current uncertainties in Eastern Europe, the company said RBI on Wednesday evening with
Source: Nachrichten
