Excluding Belarus and Russia: RBI's consolidated earnings amounted to EUR 856 million

Raiffeisen Bank International (RBI) made consolidated profits of €2.083 billion in the first three quarters of 2024, after €2.114 billion in the same period a year earlier. However, only EUR 856 million for the revised consolidated result of Belarus and Russia, the RBI announced in a statement this evening. However, the result includes provisions worth €493 million in Swiss francs and euro mortgage loans in Poland.

Underlying revenues excluding Russia and Belarus fell slightly quarter-on-quarter to €1.481 billion. The Tier 1 capital ratio for common equity excluding Russia rose to 15.3 percent and remained unchanged at 17.8 percent for the entire group.

23 percent decrease in customer loans in Russia

The Reserve Bank of India has already succeeded in significantly reducing risks in Russia: customer loans were reduced by 23 percent on a quarterly basis. The bank recorded a 26 percent decrease in deposits in current accounts on a quarterly basis.

Across the two markets, the bank generated net interest income of €4.355 billion in the nine months to the end of September, nearly four percent higher than the same period last year. Net commission income decreased by approximately twelve percent to 2.077 billion euros. The operating result was five percent weaker. When it comes to the non-performing loan (NPL) ratio, i.e. bad loans that have not been repaid, the RBI stands at two per cent.

The bank expects return on equity (ROE) for the full year, excluding Belarus and Russia, to be 7.5 percent. At the end of the first half of the year, the Reserve Bank of India was still expecting this to reach around ten percent. The outlook for net interest income has not changed. In 2024, it is expected to reach approximately 4.1 billion euros, and net commission income will be approximately 1.8 billion euros.

As previously expected, customer demand should grow by four to five percent. But the RBI is also sticking to its earlier expectations when it comes to the cost-income ratio, the ratio between a company's expenses and its income, which is around 52 percent.