Raiffeisen Bank International AG

Earnings Release • Mar 29, 2012

News Details

Ad-hoc | 29 March 2012 07:31

Raiffeisen Bank International: Full Year Result 2011

Raiffeisen Bank International AG / Key word(s): Final Results

29.03.2012 07:31

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• Net interest income increased to EUR 3,667 mn (up 2.5% y-o-y)
• Operating income (goodwill impairment excluded) increased to EUR 5,475 mn
  (up 1.3% y-o-y)
• General administrative expenses increased to EUR 3,120 mn (up 4.7% y-o-y)
• Net provisioning for impairment losses dropped to EUR 1,064 mn (down
  10.9% y-o-y)
• Impairment of goodwill of EUR 187 mn mainly in Ukraine
• Profit before tax up to EUR 1,373 mn (up 6.7% y-o-y), considerably
  influenced by valuation gains on own issues and macro hedges
• Consolidated profit decreased to EUR 968 mn (down 11.0% y-o-y)
• NPL ratio improved to 8.6% (down 0.3PP compared to FY 2010)
• Coverage ratio improved to 68.4% (up 2.1PP compared to FY 2010)
• Core tier 1 ratio (total risk) increased to 9.0% (up 0.2PP compared to FY
  2010)

Income Statement in EUR mn 1-12/2011 1-12/2010 10-12/2011 10-12/2010
Net interest income 3,667 3,578 943 871
Net provisioning for
impairment losses (1,064) (1,194) (282) (281)
Net interest income after
provisioning 2,603 2,384 661 590
Net fee and commission income 1,490 1,491 365 403
Net trading income 363 328 70 70
General administrative expenses (3,120) (2,980) (834) (827)
Profit before tax 1,373 1,287 342 290
Profit after tax 974 1,177 214 324
Consolidated profit 968 1,087 222 304

Balance Sheet in EUR mn 31/12/11 31/12/10
Equity 10,936 10,404
Total assets 146,985 131,173

Bank Specific Information 31/12/11 31/12/10
Core tier 1 ratio (total risk) 9.0% 8.9%
Tier 1 ratio (credit risk) 12.2% 12.2%
Tier 1 ratio (total risk) 9.9% 9.7%
Own funds ratio 13.5% 13.3%

Performance 1-12/2011 1-12/2010
Return on equity (ROE)
before tax 13.7% 13.7%
Consolidated return on equity 10.8% 13.0%
Cost/income ratio 57.0% 55.1%
Earnings per share in EUR 3.95 4.56

Resources 31/12/11 31/12/10
Number of staff 59,261 59,782
Business outlets 2,928 2,961

The outlook was adapted to the changed environment and is summarized as
follows:

• In the context of expected overall economic developments, particularly in
  CEE, we are aiming, with the inclusion of the acquisition of Polbank, for a
  return on equity before tax of around 15 per cent in the medium term. This
  is excluding future acquisitions, any capital increases, as well as
  unexpected regulatory requirements from today's perspective.
• In 2012, we expect a stable business volume due to the economic
  environment and restrictive regulatory requirements.
• Against the backdrop of a permanently changing regulatory environment and
  further strengthening of our balance sheet structure we are continuously
  evaluating the level and structure of our regulatory capital to be able to
  act promptly and flexibly. Depending on market developments, a capital
  increase also continues to be a possible option.
• Despite the cautious economic growth forecast, we expect to see a
  stabilization of the net provisioning ratio along with only a marginal
  increase in non-performing loan volumes. Due to current developments on the
  economic and political fronts, it is not possible to accurately predict
  when we will reach a turning point as far as non-performing loans are
  concerned.
• In 2012, we expect higher bank levies than in the previous year. In
  Austria and CEE this will presumably result in a negative earnings effect
  of some EUR 160 mn (of which approximately EUR 100 mn in Austria, EUR 40 mn
  in Hungary and EUR 20 mn in Slovakia).
• We plan to raise around EUR 4.6 bn in long-term wholesale funding
  (maturity of more than one year) for the RBI Group in 2012. In the capital
  markets we intend to raise EUR 2.1 bn in wholesale funding, of which around
  EUR 1.3 bn had already been placed as of mid-March.
• We have implemented group-wide cost efficiency programs in order to
  achieve a flat cost development.

For further information please contact:

Susanne Langer
Head of Group Investor Relations
Raiffeisen Bank International AG
Am Stadtpark 9
1030 Vienna, Austria
ir@rbinternational.com
phone +43-1-71707-2089
http://www.rbinternational.com

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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: ir@rbinternational.com
Internet: www.rbinternational.com
ISIN: AT0000606306
WKN: A0D9SU
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market in
Frankfurt; Wien (Amtlicher Handel / Official Market)

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