Raiffeisen Bank International AG / Key word(s): Interim Report
22.05.2014 07:32
Dissemination of an Ad hoc announcement, transmitted by DGAP - a company of
EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Following the successful capital increase in the first quarter of 2014, RBI
expects to receive approval from the Financial Market Authority (FMA) for
full repayment of the participation capital in the near future. As a first
step, RBI intends to repay the total amount or at least a substantial part
of the state-held tranche. The FMA has notified RBI that the approval will
be granted promptly, enabling repayment to take place in the next 3 to 4
weeks.
- Net interest income of EUR 979 mn (up 13.2% y-o-y)
- Net trading income of minus EUR 19 mn, mainly due to currency-driven
valuation losses in Ukraine
- General administrative expenses decreased to EUR 755 mn (down 4.2% y-o-y)
driven by FX effects
- Net provisioning for impairment losses increased to EUR 281 mn (up 28.1%
y-o-y)
- Profit before tax declined to EUR 240 mn (down 4.3% y-o-y )
- Consolidated profit increased to EUR 161 mn (up 2.5% y-o-y)
- NPL ratio decreased to 10.6% (down 0.2PP compared to FY 2013)
- NPL coverage ratio increased to 65.2% (up 2.1PP compared to FY 2013)
- Common equity tier 1 ratio (transitional) at 13.9% (including
participation capital)
- Common equity tier 1 ratio (fully loaded) of 9.9%
- Leverage ratio of 5.9% comfortably surpasses the 3% envisaged regulatory
ratio
Income Statement in EUR mn Q1/2014 Q1/2013
Net interest income 979 865
Net provisioning for
impairment losses (281) (220)
Net interest income after
provisioning 697 645
Net fee and commission
income 376 375
Net trading income (19) 80
General administrative
expenses (755) (788)
Net income from derivatives
and liabilities (27) (121)
Net income from financial
investments 37 87
Profit before tax 240 251
Profit after tax 173 174
Consolidated profit 161 157
Balance Sheet in EUR mn 31/03/14 31/12/13
Equity 12,821 10,364
Total assets 125,410 130,640
NPL ratio 10.6% 10.7%
NPL coverage ratio 65.2% 63.1%
Bank Specific Information 31/03/14 31/12/13
Common equity tier 1 ratio
(transitional) 13.9% 10.7%
Common equity tier 1 ratio
(fully loaded) 9.9% n. a.
Performance Q1/2014 Q1/2013
Net interest margin 3.35% 2.89%
Return on equity before tax 7.9% 9.2%
Return on equity
(consolidated) 4.8% 5.6%
Cost/income ratio 56.1% 58.5%
Earnings per share in EUR 0.41 0.55
Resources 31/03/14 31/12/13
Employees 57,217 57,901
Business outlets 2,991 3,025
The outlook was adapted to the changed environment:
We expect loans and advances to customers in 2014 to remain at the
approximate level of the previous year.
We anticipate a net provisioning requirement of between EUR 1,300 million
and EUR 1,400 million in 2014, however, results may be impacted by the ECB
Asset Quality Review process and further deterioration of the situation in
Ukraine and Russia.
In the course of our cost reduction program, we plan to reduce general
administrative expenses to below the level of 2012 by 2016. We aim to
achieve a cost/income ratio of between 50 to 55 per cent by 2016.
Costs in 2014 are expected to be below the level of 2013.
We aim for a return on equity before tax of approximately 15 per cent and a
consolidated return on equity of approximately 12 per cent in the medium
term.
For further information please contact:
Susanne E. Langer
Head of Group Investor Relations
Spokesperson
Raiffeisen Bank International AG
Am Stadtpark 9
1030 Vienna, Austria
ir@rbinternational.com
phone +43-1-71 707-2089
www.rbinternational.com
22.05.2014 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: 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: ir@rbinternational.com
Internet: www.rbinternational.com
ISIN: AT0000606306
WKN: A0D9SU
Listed: Wien (Amtlicher Handel / Official Market)
End of Announcement DGAP News-Service
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DGAP-Adhoc: Raiffeisen Bank International AG: First Quarter Report 2014 and repayment of participation capital
| Source: EQS Group AG