DGAP-Adhoc: Raiffeisen Bank International AG: Semi-Annual Financial Report 2013

DGAP-Adhoc: Raiffeisen Bank International AG: Semi-Annual Financial Report 2013

Raiffeisen Bank International AG  / Key word(s): Half Year Results

22.08.2013 07:35

Dissemination of an Ad hoc announcement, transmitted by DGAP - a company of
EQS Group AG.
The issuer is solely responsible for the content of this announcement.


- Net interest income of EUR 1,836 mn (up 4.2% y-o-y)
- General administrative expenses of EUR 1,617 mn (up 6.5% y-o-y due to
Polbank integration and salary inflation in Russia)
- Net provisioning for impairment losses of EUR 469 mn (up 17.3% y-o-y)
- Negative one-off impact of EUR 20 mn in Q2 due to upfront booking of
Hungarian bank levy for H2 2013
- Net income from financial investments of EUR 64 mn (minus EUR 189 mn,
primarily due to sale of security portfolio in previous year)
- Net income from derivatives and liabilities of minus EUR 187 mn (down EUR
167 mn, mainly affected by valuation of own liabilities and Hybrid Tier 1
buyback in H1 2012)
- Profit before tax of EUR 467 mn (down 49.6% y-o-y)
- Tax rate of 33% (up 12PP y-o-y) due to valuations and other items which
are not fully tax deductible
- Consolidated profit of EUR 277 mn (down 60.5% y-o-y)
- Net interest margin of 3.06% (up 0.42PP y-o-y)
- Core Tier 1 ratio of 10.4% (total risk); including H1 retained earnings
- Leverage ratio of 5.5% comfortably surpasses the 3.0% envisaged
regulatory ratio

Income Statement in EUR mn       1-6/2013  1-6/2012  4-6/2013  4-6/2012
Net interest income              1,836     1,762     972       886  

Net provisioning for impairment 
losses                           (469)     (400)     (249)     (247)

Net interest income after 
provisioning                     1,367     1,362     722       639  

Net fee and commission income    785       721       411       375  

Net trading income               140       167       60        85   

General administrative expenses  (1,617)   (1,518)   (829)     (764)

Net income from derivatives and 
liabilities                      (187)     (20)      (66)      (55) 

Net income from financial 
investments                      64        253       (23)      (8)  

Profit before tax                467       927       216       243  

Profit after tax                 311       734       137       160  

Consolidated profit              277       701       120       160  

Balance Sheet in EUR mn           30/6/13     31/12/12                     

Equity                            10,428      10,873                       

Total assets                      130,306     136,116                      

NPL ratio                         9.9%        9.8%                         

NPL coverage ratio                67.3%       67.0%                        

Bank Specific Information         30/6/13     31/12/12                     

Core tier 1 ratio (total risk)    10.4%       10.7%                        

Tier 1 ratio (credit risk)        13.3%       13.6%                        

Tier 1 ratio (total risk)         10.9%       11.2%                        

Performance                       1-6/2013    1-6/2012                     

Net interest margin               3.06%       2.64%                        

Return on equity before tax       8.6%        17.3%                        

Consolidated return on equity     5.4%        14.4%                        

Cost/income ratio                 60.2%       58.1%                        

Earnings per share in EUR         0.91        3.09                         

Resources                         30/6/13     31/12/12                     

Employees                         58,831      60,084                       

Business outlets                  3,056       3,106                        


In the context of the expected overall economic developments, particularly
in CEE, we are aiming for a return on equity before tax of around 15 per
cent in the medium term. This is excluding any capital increases, as well
as unexpected regulatory requirements from today's perspective.

In 2013, we aim to maintain loans and advances to customers at the level of
the previous year. In the current year we expect a slight increase in the
net interest margin. From the customer standpoint, we plan to retain our
Corporate Customers division as the backbone of our business and in the
medium term to expand the proportion of business volume accounted for by
our Retail Customers division.

In light of the economic prospects, the situation remains tense in several
of our markets. In 2013, we therefore expect a similar net provisioning
requirement as in the previous year.

In 2013, we will once again pay increased attention to cost development. We
expect a flat or slightly increasing cost base, particularly due to the
first-time full year consolidation of Polbank.

Against the backdrop of a permanently changing regulatory environment and
further strengthening of our balance sheet structure we are continuously
evaluating the level and structure of our regulatory capital to be able to
act promptly and flexibly. Depending on market developments, a capital
increase also continues to be a possible option.

For further information please contact:

Susanne Langer
Head of Group Investor Relations
Raiffeisen Bank International AG
Am Stadtpark 9
1030 Vienna, Austria
phone +43-1-71 707-2089

22.08.2013 DGAP's Distribution Services include Regulatory Announcements,
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Language:     English
Company:      Raiffeisen Bank International AG
              Am Stadtpark 9
              A-1030 Vienna
Phone:        +43-1-71707-2089
Fax:          +43-1-71707-2138
E-mail:       ir@rbinternational.com
Internet:     www.rbinternational.com
ISIN:         AT0000606306
WKN:          A0D9SU
Listed:       Freiverkehr in Berlin, München, Stuttgart; Frankfurt in Open
              Market ; Wien (Amtlicher Handel / Official Market)
End of Announcement                             DGAP News-Service
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