Raiffeisen Bank International AG: Preliminary Results 2022 - Consolidated profit of EUR 3.6 billion in 2022, driven by significant increase in core revenues – Guidance 2023
January 31, 2023 at 02:01 pm EST
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EQS-Ad-hoc: Raiffeisen Bank International AG / Key word(s): Preliminary Results
Raiffeisen Bank International AG: Preliminary Results 2022 - Consolidated profit of EUR 3.6 billion in 2022, driven by significant increase in core revenues – Guidance 2023
31-Jan-2023 / 19:58 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Excluding Russia and Belarus, net interest income of EUR 3,399 million, up 37% year-over-year due to higher interest rates and volumes
Net fee and commission income excluding Russia and Belarus of EUR 1,739 million, up 16% year-over-year
Net trading income and fair value result, excluding Russia and Belarus, up EUR 179 million year-over-year, due to increased FX market making activities and credit spreads of own issues
Customer loan growth of 6% (excl. Russia and Belarus) with double digit growth in key CE and SEE markets
EUR 982 million consolidated profit (up 35% year-over-year), excluding Russia and Belarus as well as gain on sale of the Bulgarian units (EUR 453 million)
Risk costs of EUR 949 million, of which EUR 490 million booked in Russia and Belarus, and build-up of risk overlays (provisioning ratio of 0.73%); NPE ratio unchanged from previous year at 1.6%
CET1 ratio at 16.0% (transitional, incl. result), driven by strong consolidated profit and RWA optimization; 14.0% excluding Russia
From the current perspective earnings from Russia and Belarus cannot be distributed
The board will recommend a dividend of up to EUR 0.80 per share from the net profit for financial year 2022 although the timing of the decision is uncertain and unlikely to be made at the upcoming AGM (30 March 2023). The date of the decision and a resolution in an EGM will be chosen subject to capital ratios and ongoing strategic considerations.
Income Statement in EUR million
1-12/2022
1-12/2021
Q4/2022
Q3/2022
Net interest income
5,053
3,327
1,462
1,392
Net fee and commission income
3,878
1,985
1,196
1,117
Net trading income and fair value result
663
53
192
155
General administrative expenses
(3,552)
(2,978)
(978)
(925)
Operating result
6,158
2,592
1,882
1,775
Other result
(667)
(295)
(442)
(118)
Governmental measures and compulsory contributions
(337)
(213)
(52)
(44)
Impairment losses on financial assets
(949)
(295)
(228)
(160)
Profit/loss before tax
4,203
1,790
1,160
1,453
Profit/loss after tax from continuing operations
3,344
1,422
890
1,156
Profit/loss from discontinuing operations
453
86
0
0
Consolidated profit
3,627
1,372
826
1,089
Balance Sheet in EUR million
31/12/2022
31/12/2021
Loans to customers
103,230
100,832
Deposits from customers
125,099
115,153
Total assets
207,057
192,101
Total risk-weighted assets (RWA)
97,680
89,928
Bank-specific information
31/12/2022
31/12/2021
NPE ratio
1.6%
1.6%
NPE coverage ratio
59.0%
62.5%
CET1 ratio
16.0%
13.1%
Total capital ratio
20.2%
17.6%
Key ratios
1-12/2022
1-12/2021
Q4/2022
Q3/2022
Net interest margin (average interest-bearing assets)
2.59%
2.01%
2.85%
2.71%
Cost/income ratio
36.6%
53.5%
34.2%
34.3%
Provisioning ratio (average loans to customers)
0.73%
0.30%
0.90%
0.43%
Consolidated return on equity
26.8%
10.9%
24.1%
31.2%
Earnings per share in EUR
10.76
3.89
2.44
3.24
The data contained in this release is based on unaudited figures.
Guidance 2023
RBI
RBI excl. RU/BY
Net interest income
EUR 4.5-4.7 bn
EUR 3.2-3.4 bn
Net fee and commission income
EUR 2.4-2.5 bn
around EUR 1.6 bn
Loans to customers (growth)
2%-4%
3%-5%
General administrative expenses
EUR 3.6-3.7 bn
EUR 2.9-3.0 bn
Cost/income ratio
48%-50%
55%-57%
Impairment losses on financial assets (before use of overlays)
up to 90 bps
up to 75 bps
Consolidated return on equity
around 10%
around 7%
CET1 ratio at year-end 2023
above 15%
above 13.5%*
* ‘P/B Zero’ Russia deconsolidation scenario
Any decision on dividends will be based on the capital position of the Group excluding Russia.
Medium term return on equity and payout ratio targets are suspended due to current uncertainties in Eastern Europe.
For further information please contact:
John P. Carlson, CFA
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
31-Jan-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com
Raiffeisen Bank International AG is a banking group organized primarily around 3 areas:
- retail banking;
- corporate banking;
- market banking.
At the end of 2022, the group managed EUR 125.1 billion in current deposits and EUR 103.2 billion in current credits.
Products and services are marketed through a network of 1,664 branches in Europe.
Net interest income is distributed geographically as follows: Eastern Europe (40.1%), Central Europe (26.5%), Southeastern Europe (18.7%) and other (14.7%).
Raiffeisen Bank International AG: Preliminary Results 2022 - Consolidated profit of EUR 3.6 billion in 2022, driven by significant increase in core revenues – Guidance 2023