Ended the first quarter with consolidated profit of 83 million euros
Vienna. May 21.
- Net interest income decreased 16.2% to 820 million euros on an annual basis (1kV. 2014 979 million euros)
- Operating income decreased by 16.9% to EUR 1,118 million (Q1 2014-EUR 1,345 million)
- General administrative expenses decreased by 8.5% to EUR 691 million (Q1 2014-EUR 755 million)
- Net provisions for impairment losses decreased by 7.4% to EUR 260 million (Q1 2014-EUR 281 million)
- Profit before tax decreased by 21.9% to EUR 188 million (Q1 2014). - 240 million euros)
- Profit after tax decreased by 42.1% to EUR 100 million (Q1 2014-EUR 173 million)
- Consolidated profit decreased by 48.1% to EUR 83 million (Q1 2014-EUR 161 million)
- The share of non-performing loans increased by 0.5 percentage points to 11.9% compared to the end of 2014
- The tier 1 (transition) base capital ratio decreased by 0.4 percentage points to 10.4% compared to the end of 2014
- Earnings per share decreased by 52.4% to EUR 0.29 (Q1 2014-EUR 0.60)
All data are presented in accordance with international financial reporting standards (IFRS).
"In the first quarter, our operating business developed in line with our expectations. However, the first months of this year were marked by extremely high volatility of the exchange rate. In particular, changes in the rates of the Swiss franc, ruble, hryvnia and us dollar had a great impact on our results. A significant devaluation of the hryvnia, for example, had a very negative impact on our net trading income. The revaluation of the Russian ruble, the us dollar and the Swiss franc led to an increase in our risk-weighted assets. At the same time, our tier 1 capital increased significantly due to the strengthening of the rouble, which led to an almost stable tier 1 capital base ratio. The process of regulating our strategy has begun, " commented Carl Sevelda, Chairman of the management Board of Raiffeisen Bank international AG (RBI), in the first quarter of 2015.
Profit before tax for the first quarter of 2015 is 188 million euros, which means a decrease of 22% or 52 million euros compared to the same reporting period in the previous year.
Profit after tax decreased by 42% for the year-up to 100 million euros.
Consolidated profit in the first quarter amounted to 83 million euros, which means a decrease of 48% or 77 million euros.
The average number of shares outstanding during the reporting period amounted to 292.4 million (for the same period last year – 268.1 million). As a result, earnings per share amounted to € 0.29.
Net interest income decreased by 16%
Operating income decreased by 17% or € 227 million year-on-year to € 1118 million. This is mainly attributable to pereotsenka losses due to the strong currency fluctuations (particularly the Russian ruble and the Ukrainian hryvnia).
During the first three months of 2015, net interest income decreased by 16% or € 158 million to € 820 million compared to the same period last year. This is due, in addition to a decrease in net interest margin, to a decrease in interest income in Russia and Ukraine due to changes in the exchange rate and credit defaults in Asia. The group's head office also completed the quarter with lower net interest income.
General administrative expenses decreased by 9%
Compared to the same period last year, General administrative expenses decreased by 64 million euros to 691 million euros. The cost-to-income ratio rose 5.7 percentage points to 61.8 per cent, mainly due to changes in exchange rates resulting in a decrease in net trading income.
Net provisions for impairment losses decreased by 7%
Net provisions for impairment losses were reduced by only 7% or 21 million euros to 260 million euros compared to the same period in 2014. This was mainly due to the reduction of net reserves for individual loans by 50 million euros to 220 million euros, while the amount of reserves for the loan portfolio increased by 29 million euros to 42 million euros.
Basic capital ratio of the first level (transition) - 10.4%
Taking into account the total amount of risks, the ratio of fixed capital and level (transition) was 10.4%, and the ratio of total capital (transition) was 15.3%.
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Access the online version of the Annual report at the link: http://qr012015.rbinternational.com. Version in German available at: http://zb012015.rbinternational.com. On this same web page, you can order a print version.
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Raiffeisen Bank international AG (RBI) considers Austria, where it is a leading corporate and investment Bank, and Central and Eastern European countries as its home market. In 15 markets in the region, RBI operates a wide network of subsidiary banks . In addition, the Group includes a number of companies that provide other financial services, such as leasing, asset management, acquisitions and acquisitions.
In total, 54,700 employees of the Bank serve 14.8 million customers in about 2850 branches, most of which are located in Central and Eastern Europe.
Raiffeisen Bank international is a fully consolidated subsidiary of Raiffeisen Zentralbank Austria AG (RZB). RZB indirectly owns around 60.7 per cent of the ordinary shares, the remainder of the shares are in free float. RBI's shares are listed on the Vienna stock exchange. RZB is the Central Bank of the largest Austrian Raiffeisen banking Group and serves as the Central office of the entire RZB Group, including RBI.
For more information, please contact Ingrid Krenn-Ditz (Ingrid Krenn-Ditz, +43-1-71 707-6055, [email protected]) or Christoph Danz (Christof Danz, +43-1-71 707-1930, [email protected])
http://www.rbinternational.com, http://www.rzb.at
