The bottom line was 1.37 billion euros, which was more than before the corona crisis, in 2019 the bank had achieved a consolidated result of 1.23 billion euros. RBI also recorded a clear profit increase compared to the previous year 2020 (804 million euros). The bank announced on Wednesday that the economic recovery in the core markets had provided support. Bank boss Johann Strobl was satisfied with the results. “We have significantly increased our earnings, made acquisitions in strategically important markets and are number one in CEE for arranging sustainable bonds.” The bank is monitoring the geopolitical tensions in Russia and Ukraine very closely, but business there is currently running normally. In view of the situation, however, provisions were already made in the second half of the year, according to Strobl.
In the fourth quarter of 2021, EUR 150 million was set aside for risk costs (impairment of financial assets). That was significantly more than in the previous quarter with 44 million euros. In a year-on-year comparison, however, risk costs have fallen significantly. At the end of 2021 they were 295 million euros, after almost 600 million (598) at the end of 2020. The new education rate was 0.30 percent (30 basis points).
For the 2022 financial year, RBI expects a new formation rate of 40 basis points. In addition, management expects credit growth of between 7 and 9 percent. A dividend of EUR 1.15 per share is proposed.
Source: Nachrichten
