Q3 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.
And 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 us today for our Q3 update. I'm pleased to be reporting on a strong third quarter today, which reflects the continuation of the positive trends already highlighted last quarter. Consolidated profit is now 76% higher year-on-year, driven not only by lower risk costs but also by strong recovery in lending volumes, interest rates and fee business.
Net interest income for the first 9 months is almost even compared to 2020, which we are very encouraged by considering that this year's first quarter was significantly lower than last year's. Higher volumes and rates are, of course, the driver here, and we expect
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