RBI: Semi-Annual Financial Report 2019
Solid loan growth, capital strengthened further
- Consolidated profit of EUR 571 million
- Positive NII and net fee and commission income development (y-o-y up 8% and 5% respectively, adjusted for revenues from Polish core banking operations sold in 2018)
- Net trading income impacted by fair value result on hedges and on liabilities which neutralize over lifetime of portfolios
- Loans to customers up 9% YTD mainly at head office, in Russia and Central Europe
- Net interest margin slightly lower year-on-year reflecting higher volumes of short-term business at head office and lower margins in Russia
- Risk costs remain low (EUR 12 million)
- NPE ratio further improved to 2.3%
- CET1 ratio increased to 13.8% including YTD results
Income Statement in
EUR million |
1-6/2019 |
1-6/2018 |
Q2/2019 |
Q1/2019 |
| Net interest income |
1,664 |
1,663 |
840 |
825 |
| Net fee and commission income |
839 |
869 |
437 |
402 |
| Net trading income and fair value result |
(79) |
16 |
(27) |
(52) |
| General administrative expenses |
(1,497) |
(1,494) |
(773) |
(724) |
| Other result |
8 |
(94) |
10 |
(2) |
| Levies and special governmental measures |
(130) |
(141) |
(17) |
(114) |
| Impairment losses on financial assets |
(12) |
83 |
(2) |
(9) |
| Profit before tax |
834 |
1,024 |
494 |
340 |
| Profit after tax |
643 |
820 |
384 |
259 |
| Consolidated profit |
571 |
756 |
345 |
226 |
Balance Sheet in
EUR million |
30/06/2019 |
31/12/2018 |
| Loans to customers |
88,508 |
80,866 |
| Deposits from customers |
90,161 |
87,038 |
| Total assets |
148,630 |
140,115 |
| Risk-weighted assets (total) |
75,620 |
72,672 |
| Key ratios |
30/06/2019 |
31/12/2018 |
|
| NPE ratio |
2.3% |
2.6% |
|
| NPE coverage ratio |
59.0% |
58.3% |
|
| CET1 ratio |
13.8% |
13.4% |
|
| Total capital ratio (fully loaded) |
17.8% |
18.2% |
|
| Key ratios |
1-6/2019 |
1-6/2018 |
Q2/2019 |
Q1/2019 |
| Net interest margin (average interest-bearing assets) |
2.42% |
2.48% |
2.40% |
2.43% |
| Cost/income ratio |
60.7% |
56.0% |
60.6% |
60.9% |
| Consolidated return on equity |
10.1% |
15.5% |
12.3% |
7.9% |
| Earnings per share in EUR |
1.64 |
2.21 |
1.00 |
0.64 |
Outlook
We will pursue loan growth with an average yearly percentage increase in the mid-single digit area.
The provisioning ratio for FY 2019 is expected to be below 45 basis points.
We anticipate that the NPE ratio will further reduce.
We aim to achieve a cost/income ratio of around 55 per cent in 2021.
In the coming years we target a consolidated return on equity of approximately 11 per cent.
We seek to maintain a CET1 ratio of around 13 per cent in the medium term.
Based on this target, we intend to distribute between 20 and 50 per cent of the consolidated profit.
For further information please contact:
John P. Carlson
Group Investor Relations
Raiffeisen Bank International AG
Am Stadtpark 9
1030 Vienna, Austria
ir@rbinternational.com
phone +43-1-71 707-2089
www.rbinternational.com
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