RBI: Preliminary results 2020
RBI reports consolidated profit of EUR 804 mn despite impact of COVID-19.
- Core revenues impacted by rate cuts, lockdown measures, and weaker currencies in most CEE countries
- General administrative expenses down 5% year-on-year
- Loans of customers slightly down in EUR terms, mainly due to currency effect
- Provisioning ratio of 0.68%, 42 bps higher year-on-year mainly from Stage 2 provisioning
- Slight improvement in NPE ratio and NPE coverage ratio to 1.9% and 61.5% respectively
- CET1 ratio at 13.6%, including deduction of the originally communicated dividend proposal for 2019 (42 bps) and the proposed dividend for 2020 (20 bps)
- Proposed dividend of EUR 0.48 per share for 2020, in line with the ECB’s recommendation on dividend payments