Image: HERBERT NEUBAUER (APA)
RBI raised its return on equity outlook amid higher core earnings expectations, the company said Thursday night.
Both net interest income and net fee and commission income increased in the first quarter. Net interest income rose to around EUR 1.4 billion after EUR 986 million in the previous year. Net interest income excluding Russia and Belarus remained stable quarter-on-quarter, while it declined in Russia and Belarus, the release said.
Net commission income rose to EUR 966 million in March after EUR 683 million in the same quarter of the previous year. Excluding Russia and Belarus, however, net commission income fell by 5 percent quarter-on-quarter, according to the release.
“Our consolidated profit excluding Russia and Belarus has more than doubled compared to the previous quarter. RBI is very well capitalized and has a strong liquidity base,” said RBI boss Johann Strobl according to the broadcast. “In the first quarter of 2023, we further reduced both the lending business and the payment transaction business in Russia,” said Strobl.
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