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Raiffeisen Bank International AG
Earnings Release • Nov 2, 2022
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Earnings Release
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News Details
Ad-hoc | 2 November 2022 19:11
Raiffeisen Bank International AG: 2022 Outlook updated – strong core revenues across the Group
Raiffeisen Bank International AG / Key word(s): 9 Month figures
Raiffeisen Bank International AG: 2022 Outlook updated – strong core revenues across the Group
02-Nov-2022 / 19:11 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.
RBI 1-9/2022:
2022 Outlook updated – strong core revenues across the Group
- Excluding Russia and Belarus, net interest income up 38% year-over-year in the first three quarters of 2022 (EUR 2,399 million)
- Net fee and commission income, also excluding Russia and Belarus, up 18% year-over-year (EUR 1,287 million)
- EUR 822 million consolidated profit (11% ROE) excluding Russia and Belarus as well as gain on sale of the Bulgarian units
- Loan growth in Q3/2022 of 1.3%, driven by CE and SEE, flat volumes in Group Corporates & Markets and a reduction in EE
- Risk costs of EUR 160 million booked in Q3/2022, bringing the total year-to-date to EUR 721 million (provisioning ratio of 0.71% year-to-date)
-
CET1 ratio at 14.6% (transitional, incl. result), driven by strong consolidated profit and stable RWA in Q3;
earnings from EE subsidiaries cannot be distributed
- Full year 2022 outlook has been updated
| Income Statement in EUR million | 1-9/2022 | 1-9/2021 | Q3/2022 | Q2/2022 |
| Net interest income | 3,591 | 2,352 | 1,392 | 1,214 |
| Net fee and commission income | 2,682 | 1,424 | 1,117 | 882 |
| Net trading income and fair value result | 471 | 29 | 155 | 132 |
| General administrative expenses | (2,574) | (2,122) | (925) | (857) |
| Operating result | 4,275 | 1,830 | 1,775 | 1,412 |
| Other result | (225) | (120) | (118) | (6) |
| Governmental measures and compulsory contributions | (285) | (181) | (44) | (82) |
| Impairment losses on financial assets | (721) | (145) | (160) | (242) |
| Profit/loss before tax | 3,044 | 1,384 | 1,453 | 1,082 |
| Profit/loss after tax from continuing operations | 2,455 | 1,093 | 1,156 | 859 |
| Profit/loss from discontinuing operations | 453 | 62 | 0 | 435 |
| Consolidated profit | 2,801 | 1,055 | 1,089 | 1,270 |
| Balance Sheet in EUR million | 30/09/2022 | 31/12/2021 | |
| Loans to customers | 109,066 | 100,832 | |
| Deposits from customers | 129,786 | 115,153 | |
| Total assets | 219,834 | 192,101 | |
| Total risk-weighted assets (RWA) | 108,496 | 89,928 |
| Key ratios | 30/09/2022 | 31/12/2021 | |
| NPE ratio | 1.5% | 1.6% | |
| NPE coverage ratio | 61.5% | 62.5% | |
| CET1 ratio (incl. result)* | 14.6% | 13.1% | |
| Total capital ratio (incl. result)* | 18.4% | 17.6% |
*transitional
| Key ratios | 1-9/2022 | 1-9/2021 | Q3/2022 | Q2/2022 |
| Net interest margin (average interest-bearing assets) | 2.49% | 1.94% | 2.71% | 2.56% |
| Cost/income ratio | 37.6% | 53.7% | 34.3% | 37.8% |
| Provisioning ratio (average loans to customers) | 0.71% | 0.21% | 0.43% | 0.76% |
| Consolidated return on equity | 27.6% | 11.1% | 31.2% | 37.6% |
| Earnings per share in EUR | 8.31 | 3.00 | 3.24 | 3.79 |
Outlook/Guidance
The following guidance assumes no changes to the existing footprint. All options relating to Russia and Belarus remain on the table.
- In 2022, net interest income is expected around EUR 4.8 billion and net fee and commission income of around EUR 3.7 billion.
- Excluding Russia and Belarus, net interest income and net fee and commission income are expected around EUR 3.2 billion and EUR 1.7 billion respectively.
- We expect stable loan volumes for Q4/2022, with selected growth still coming from CE and SEE.
- We expect general administrative expenses around EUR 3.5 billion, leading to an expected cost/income ratio of around 40%.
- The provisioning ratio for 2022 is expected to be up to 100 basis points.
- Consolidated return on equity is expected to be around 25% in 2022.
- At year-end 2022, we expect a CET1 ratio above 14%. The Group CET1 target ratio will increase to 13.5% from January 2023, and to 14% by the end of 2023.
Medium term return on equity and payout ratio targets are suspended due to current uncertainties in Eastern Europe.
For more 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
02-Nov-2022 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: | 1477943 |
| End of Announcement | EQS News Service |