Raiffeisen Bank Reports EUR 856 Million Profit Amid Revised Outlook

Raiffeisen Bank International AG has announced a consolidated profit of EUR 856 million for the first nine months of 2024, excluding its operations in Russia and Belarus. This figure includes EUR 493 million in provisions for CHF and EUR mortgage loans in Poland. Despite these positive earnings, the bank has revised its return on equity (ROE) guidance for 2024 down to 7.5% due to increased provisions in Poland.

The bank's core revenues, excluding Russia and Belarus, saw a slight decline to EUR 1,481 million quarter-over-quarter. The bank reported a stable provisioning ratio of around 30 basis points in the third quarter. The Common Equity Tier 1 (CET1) ratio improved to 15.3%, excluding Russia.

Raiffeisen continues to focus on reducing business in Russia, with customer loans declining almost 67% since their peak in Q2/2022. The bank's outlook, excluding Russia and Belarus, anticipates net interest income of approximately EUR 4.1 billion and a CET1 ratio of around 14.7%.