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Raiffeisen Bank International AG
Earnings Release • Aug 10, 2017
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Earnings Release
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Corporate | 10 August 2017 07:29
Raiffeisen Bank International: Semi-Annual Financial Report 2017
DGAP-News: Raiffeisen Bank International AG / Key word(s): Half Year Results
10.08.2017 / 07:29
The issuer is solely responsible for the content of this announcement.
Raiffeisen Bank International: Semi-Annual Financial Report 2017
- Consolidated profit above expectations at EUR 587 mn
- CET1 ratio (fully loaded) at 12.8% including reviewed H1/2017 results
- NPL ratio further reduced to 7.3% driven by low new NPL inflows and NPL sales
- Ongoing favorable development in risk costs across the Group
- Updated outlook to reflect positive asset quality trend
- Stable net interest margin, despite interest rate cuts primarily in Eastern Europe
- Progress in rightsizing program in Poland; IPO of Raiffeisen Polbank suspended
- Successful placement of EUR 650 mn AT1 notes
| Income Statement in EUR mn |
1-6/2017 | 1-6/2016 pro forma |
Q2/2017 | Q1/2017 |
| Net interest income | 1,588 | 1,567 | 792 | 796 |
| Net provisioning for impairment losses | (76) | (403) | 4 | (80) |
| Net interest income after provisioning | 1,512 | 1,164 | 795 | 716 |
| Net fee and commission income | 842 | 773 | 433 | 409 |
| Net trading income | 133 | 88 | 69 | 64 |
| General administrative expenses | (1,573) | (1,541) | (758) | (815) |
| Other results | (99) | (51) | (26) | (73) |
| Profit/loss before tax | 849 | 474 | 519 | 330 |
| Profit/loss after tax | 656 | 297 | 401 | 255 |
| Consolidated profit/loss | 587 | 236 | 367 | 220 |
| Balance Sheet in EUR mn |
30/06/17 | 31/03/17 | 31/12/16 pro forma |
|
| Equity | 10,234 | 10,067 | 9,752 | |
| Total assets | 138,603 | 138,489 | 134,804 | |
| NPL ratio | 7.3% | 8.3% | 8.7% | |
| NPL coverage ratio | 70.5% | 74.0% | 75.2% | |
| Risk-weighted assets (total RWA) | 69,021 | 69,864 | 67,911 | |
| Ratios | 30/06/17 | 31/03/17 | 31/12/16 pro forma |
|
| Common equity tier 1 ratio (fully loaded) | 12.8% | 12.2% | 12.4% | |
| Common equity tier 1 ratio (transitional) | 12.9% | 12.4% | 12.7% | |
| Total capital ratio (fully loaded) | 17.4% | 16.8% | 17.1% | |
| Total capital ratio (transitional) | 17.5% | 17.0% | 17.4% |
| Ratios | 1-6/2017 | 1-6/2016 pro forma |
Q2/2017 | Q1/2017 |
| Net interest margin | 2.46% | 2.40% | 2.43% | 2.49% |
| Return on equity before tax | 17.4% | 10.5% | 21.3% | 13.4% |
| Consolidated return on equity | 12.9% | 5.6% | 16.2% | 9.6% |
| Cost/income ratio | 60.6% | 62.4% | 58.4% | 62.8% |
| Earnings per share in EUR | 1.79 | 0.72 | 1.12 | 0.67 |
| Resources | 30/06/17 | 31/03/17 | 31/12/16 pro forma |
|
| Employees (full-time equivalents) | 49,688 | 50,094 | 50,203 | |
| Business outlets | 2,425 | 2,500 | 2,522 |
As of January 2017, RZB contributed business is fully included. Current RBI figures refer to the Combined Bank; unless specified otherwise, the historical pro forma data is based on the Combined Bank (consideration of the merger).
Outlook
We target a CET1 ratio (fully loaded) of around 13 per cent in the medium term.
After stabilizing loan volumes, we look to resume growth with an average yearly percentage increase in the low single digit area.
We expect net provisioning for impairment losses for 2017 to be significantly below the level of 2016 (EUR 758 million), supported by a high level of recoveries and gains on NPL sales.
After reaching the previous goal of approximately 8 per cent ahead of schedule, we expect the NPL ratio to reduce further in the medium term.
We aim to achieve a cost/income ratio of between 50 and 55 per cent in the medium term, unchanged from our previous target.
Our medium term return on equity before tax target is unchanged at approximately 14 per cent, with a consolidated return on equity target of approximately 11 per cent.
For further information please contact:
Susanne E. Langer Raiffeisen Bank International AG
Head of Group Investor Relations Am Stadtpark 9
Spokesperson 1030 Vienna, Austria
[email protected] www.rbinternational.com
phone +43-1-71 707-2089
10.08.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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: | [email protected] |
| Internet: | www.rbinternational.com |
| ISIN: | AT0000606306 |
| WKN: | A0D9SU |
| Listed: | Foreign Exchange(s) Luxemburg, SIX, Wien (Amtlicher Handel / Official Market) |
| End of News | DGAP News Service |