- Net interest income increases 4.6 per cent year-on-year to € 2,519 million (1-9/2017: € 2,407 million)
- Operating income increases 4.8 per cent to € 4,003 million (1-9/2017: € 3,821 million)
- General administrative expenses stable at € 2,228 million (1-9/2017: € 2,213 million)
- Strong positive development in impairment losses on financial assets: € 56 million (1-9/2017: minus 191 million)
- Profit before tax increases 22.0 per cent to € 1,587 million (1-9/2017: € 1,301 million)
- Profit after tax increases 25.7 per cent to € 1,271 million (1-9/2017: € 1,012 million)
- Consolidated profit increases 28.9 per cent to € 1,173 million (: € 910 million)
- Non-performing loan ratio decreases 1.2 percentage points to 4.4 per cent compared to year-end 2017
- Common equity tier 1 ratio at 12.8% (fully loaded) including YTD results
- Earnings per share increase to € 3.43 (1-9/2017: € 2.74)
On 1 January 2018, the new accounting standard for financial instruments (IFRS 9) took effect. In addition to the adoption of IFRS 9, RBI has also changed the presentation of its statement of financial position, which is now aligned with the financial reporting standards (FINREP) issued by the European Banking Authority (EBA). With the adoption of the standards, it was also necessary to adjust the figures of the comparable period and comparable reporting date.
Raiffeisen Bank International AG (RBI) posted consolidated result of € 1,173 million for the first three quarters of 2018.
“I am satisfied with the result of the first nine months. The main driver for this very good result is the development of risk costs. The earnings trend is pleasing as well. We were able to improve our net interest income by almost five per cent compared with the previous year in what continues to be a very difficult interest rate environment”, said Johann Strobl, CEO of RBI.
Operating income was up 5 per cent year-on-year, or € 182 million, to € 4,003 million. Net interest income rose 5 per cent to € 2,519 million, driven by the 3 per cent increase in the Group’s interest-bearing assets.
General administrative expenses showed a small € 16 million year-on-year increase to € 2,228 million. The cost/income ratio improved 2.2 percentage points to 55.7 per cent.
“We got off to a good start in the fourth quarter and have successfully completed an important project with the sale of the core banking business of Raiffeisen Bank Polska”, said Strobl.
Source: RBI website