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DGAP-News News vom 10.08.2017

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.

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