Raiffeisen Bank International AG: First Quarter Report 2018
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@example.com 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.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: 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: firstname.lastname@example.org 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