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Raiffeisen Bank International AG
Earnings Release • Jan 31, 2023
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Earnings Release
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News Details
Ad-hoc | 31 January 2023 19:58
Raiffeisen Bank International AG: Preliminary Results 2022 – Consolidated profit of EUR 3.6 billion in 2022, driven by significant increase in core revenues – Guidance 2023
Raiffeisen Bank International AG / Key word(s): Preliminary Results
Raiffeisen Bank International AG: Preliminary Results 2022 – Consolidated profit of EUR 3.6 billion in 2022, driven by significant increase in core revenues – Guidance 2023
31-Jan-2023 / 19:58 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
- Excluding Russia and Belarus, net interest income of EUR 3,399 million, up 37% year-over-year due to higher interest rates and volumes
- Net fee and commission income excluding Russia and Belarus of EUR 1,739 million, up 16% year-over-year
- Net trading income and fair value result, excluding Russia and Belarus, up EUR 179 million year-over-year, due to increased FX market making activities and credit spreads of own issues
- Customer loan growth of 6% (excl. Russia and Belarus) with double digit growth in key CE and SEE markets
- EUR 982 million consolidated profit (up 35% year-over-year), excluding Russia and Belarus as well as gain on sale of the Bulgarian units (EUR 453 million)
- Risk costs of EUR 949 million, of which EUR 490 million booked in Russia and Belarus, and build-up of risk overlays (provisioning ratio of 0.73%); NPE ratio unchanged from previous year at 1.6%
- CET1 ratio at 16.0% (transitional, incl. result), driven by strong consolidated profit and RWA optimization; 14.0% excluding Russia
- From the current perspective earnings from Russia and Belarus cannot be distributed
- The board will recommend a dividend of up to EUR 0.80 per share from the net profit for financial year 2022 although the timing of the decision is uncertain and unlikely to be made at the upcoming AGM (30 March 2023). The date of the decision and a resolution in an EGM will be chosen subject to capital ratios and ongoing strategic considerations.
| Income Statement in EUR million | 1-12/2022 | 1-12/2021 | Q4/2022 | Q3/2022 |
| Net interest income | 5,053 | 3,327 | 1,462 | 1,392 |
| Net fee and commission income | 3,878 | 1,985 | 1,196 | 1,117 |
| Net trading income and fair value result | 663 | 53 | 192 | 155 |
| General administrative expenses | (3,552) | (2,978) | (978) | (925) |
| Operating result | 6,158 | 2,592 | 1,882 | 1,775 |
| Other result | (667) | (295) | (442) | (118) |
| Governmental measures and compulsory contributions | (337) | (213) | (52) | (44) |
| Impairment losses on financial assets | (949) | (295) | (228) | (160) |
| Profit/loss before tax | 4,203 | 1,790 | 1,160 | 1,453 |
| Profit/loss after tax from continuing operations | 3,344 | 1,422 | 890 | 1,156 |
| Profit/loss from discontinuing operations | 453 | 86 | 0 | 0 |
| Consolidated profit | 3,627 | 1,372 | 826 | 1,089 |
| Balance Sheet in EUR million | 31/12/2022 | 31/12/2021 | |
| Loans to customers | 103,230 | 100,832 | |
| Deposits from customers | 125,099 | 115,153 | |
| Total assets | 207,057 | 192,101 | |
| Total risk-weighted assets (RWA) | 97,680 | 89,928 |
| Bank-specific information | 31/12/2022 | 31/12/2021 | |
| NPE ratio | 1.6% | 1.6% | |
| NPE coverage ratio | 59.0% | 62.5% | |
| CET1 ratio | 16.0% | 13.1% | |
| Total capital ratio | 20.2% | 17.6% |
| Key ratios | 1-12/2022 | 1-12/2021 | Q4/2022 | Q3/2022 |
| Net interest margin (average interest-bearing assets) | 2.59% | 2.01% | 2.85% | 2.71% |
| Cost/income ratio | 36.6% | 53.5% | 34.2% | 34.3% |
| Provisioning ratio (average loans to customers) | 0.73% | 0.30% | 0.90% | 0.43% |
| Consolidated return on equity | 26.8% | 10.9% | 24.1% | 31.2% |
| Earnings per share in EUR | 10.76 | 3.89 | 2.44 | 3.24 |
The data contained in this release is based on unaudited figures.
Guidance 2023
| RBI | RBI excl. RU/BY | |
| Net interest income | EUR 4.5-4.7 bn | EUR 3.2-3.4 bn |
| Net fee and commission income | EUR 2.4-2.5 bn | around EUR 1.6 bn |
| Loans to customers (growth) | 2%-4% | 3%-5% |
| General administrative expenses | EUR 3.6-3.7 bn | EUR 2.9-3.0 bn |
| Cost/income ratio | 48%-50% | 55%-57% |
| Impairment losses on financial assets (before use of overlays) | up to 90 bps | up to 75 bps |
| Consolidated return on equity | around 10% | around 7% |
| CET1 ratio at year-end 2023 | above 15% | above 13.5%* |
* ‘P/B Zero’ Russia deconsolidation scenario
Any decision on dividends will be based on the capital position of the Group excluding Russia.
Medium term return on equity and payout ratio targets are suspended due to current uncertainties in Eastern Europe.
For further information please contact:
John P. Carlson, CFA
Group Investor Relations
Raiffeisen Bank International AG
Am Stadtpark 9
1030 Vienna, Austria
phone +43 1 71 707 2089
www.rbinternational.com
31-Jan-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com
| 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: | [email protected] |
| 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: | 1548189 |
| End of Announcement | EQS News Service |