Q3 2024 Raiffeisen Bank International AG Earnings Call Transcript
Key Points
- Raiffeisen Bank International AG (RAIFF) reported consolidated profits excluding Russia and Belarus of EUR856 million for the first nine months of 2024, with an ROE of 8.6%.
- The CET1 ratio for the group under a worst-case scenario in Russia improved to 15.3%, with guidance for the full year remaining at 14.7%.
- Operating expenses increased by 6% compared to the first nine months of 2023, with a cost-income ratio just under 51%.
- The bank's liquidity coverage ratios remained stable and at comfortable levels across the group.
- The bank's CET1 ratio is stable at 17.8% for the fully consolidated group, with expectations to be around 17.3% by year-end.
- Net interest income excluding Russia and Belarus decreased by 1%, with a clear downward trend.
- Operating expenses increased by 6% compared to the first nine months of 2023.
- The return on equity was revised down to 7.5% due to the risk of further provisions in Poland and an unexpected windfall tax in Ukraine in Q4.
- The bank faces significant challenges in exiting its Russian operations, with court proceedings delaying the timeline.
- Risk costs are expected to increase to 35 basis points for the full year of 2024, with further provisions anticipated in Poland.
Good afternoon, ladies and gentlemen, and welcome to the Q3 2024 results 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.
Thank you very much. Good afternoon, ladies and gentlemen. Thank you for joining us today for our third-quarter results call. For the first nine months of 2024, we can report consolidated profits excluding Russia and Belarus EUR856 million for an ROE of 8.6%. With decent earnings in the quarter and stable RWA, the CET1 ratio for the group under worst case scenario in Russia improves to 15.3%. This is a nice sprint of course, but our guidance for the full year remains in the 14.7% area. I will touch on this in more detail in just a minute.
On slide 5, loans to customers were pretty much flat in the quarter with some loan growth in our networks and a very
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
