Half Year 2021 Raiffeisen Bank International AG Earnings Call Transcript
Good afternoon, ladies and gentlemen, and welcome to the conference call of Raiffeisen Bank International. Today's conference is being recorded.
At this time, I would like to turn the conference over to Mr. Johann Strobl, Chief Executive Officer. Please go ahead, sir.
Good afternoon, ladies and gentlemen, and thank you for taking the time to join the call. I'm pleased to be reporting on a strong second quarter today, which, to some extent, reflects an improved economic backdrop as well as a more favorable rate environment. Consolidated profit posted a 66% year-on-year increase, driven primarily by lower risk costs. Net interest income for the first half was down 8% compared to 2020. However, it is important to note that it increased by 5% in the second quarter on the back of higher volumes and rate hikes.
The second quarter was one of the strongest we have had for fee and commission income. We generated close to EUR 500 million, which I will come to
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