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Raiffeisen Bank International AG

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DGAP-News News vom 15.05.2018

Raiffeisen Bank International AG: First Quarter Report 2018

DGAP-News: Raiffeisen Bank International AG / Key word(s): Quarter Results

15.05.2018 / 07:29
The issuer is solely responsible for the content of this announcement.


RBI: First Quarter Report 2018

- Consolidated profit of EUR 399 mn (up 81% year-on-year) driven by strong positive contribution from risk costs

- Exceptionally high net releases of loan loss provisions led to positive impairment losses on financial assets (risk costs). Despite the positive result, risk costs for 2018 are expected to be around the level of the previous year

- NPL ratio decreased further to 5.4%

- NIM stable at 2.49%, with improvements in Czech Republic and Romania

- IFRS 9 impact on equity of EUR 130 mn; minus 10 bps on CET1 ratio (fully loaded)

- CET1 ratio at 12.8% (fully loaded, incl. YTD results and IFRS 9 impact)

- Disposal of core banking assets in Poland, with expected positive impact of 90 bps on Group CET1 ratio (fully loaded) on closing

Income Statement in EUR million Q1/2018 Q1/2017 Q4/2017
Net interest income 829 797 818
Net fee and commission income 410 409 446
Net trading income and fair value result (1) 2 10
General administrative expenses (740) (745) (798)
Other result 27 24 (31)
Levies and expenses from special governmental measures (132) (120) (17)
Impairment losses on financial assets 83 (82) (121)
Profit before tax 529 330 311
Profit after tax 430 255 234
Consolidated profit 399 220 206
       
Balance Sheet in EUR million 31/03/2018 31/12/2017  
Loans and advances to customers 80,226 77,745  
Deposits from customers 87,229 84,974  
Total assets 140,033 135,146  
Risk-weighted assets (total) 73,102 71,902  
       
Key ratios 31/03/2018 31/12/2017  
NPL ratio 5.4% 5.7%  
NPL coverage ratio 69.7% 67.0%  
CET1 ratio (fully loaded, incl. YTD results) 12.8% 12.7%  
CET1 ratio (fully loaded) 12.2% 12.7%  
CET1 ratio (transitional, incl. YTD results) 12.8% 12.9%  
CET1 ratio (transitional) 12.2% 12.9%  
       
Key ratios Q1/2018 Q1/2017 Q4/2017
Net interest margin 2.49% 2.44% 2.55%
Consolidated return on equity 16.6% 9.6% 8.9%
Cost/income ratio 57.3% 59.5% 62.5%
Earnings per share in EUR 1.17 0.67 0.60
 


Outlook

We will pursue loan growth with an average yearly percentage increase in the mid-single digit area.
Impairment losses on financial assets (risk costs) in 2018 are expected to be around the 2017 level.
We anticipate that the NPL ratio will further reduce in the medium term.
We aim to achieve a cost/income ratio of below 55 per cent in the medium term.
We target a consolidated return on equity of approximately 11 per cent in the medium term.
We target a CET1 ratio (fully loaded) of around 13 per cent post dividend in the medium term.
Based on this target, we intend to distribute between 20 and 50 per cent (dividend payout ratio) of the consolidated profit.

The targets in this outlook include the impact from IFRS 9 and FINREP; the sale of the core banking operations in Poland is not reflected.

For further information please contact:

Susanne E. Langer
Head of Group Investor Relations
Spokesperson
Raiffeisen Bank International AG
Am Stadtpark 9
1030 Vienna, Austria
[email protected]
phone +43-1-71 707-2089
www.rbinternational.com



15.05.2018 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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