DGAP-Adhoc: Raiffeisen Bank International AG: First Quarter Report 2014 and repayment of participation capital

 DGAP-Adhoc: Raiffeisen Bank International AG: First Quarter Report 2014 and  repayment of participation capital  Raiffeisen Bank International AG  / Key word(s): Interim Report  22.05.2014 07:32  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.  ---------------------------------------------------------------------------  Following the successful capital increase in the first quarter of 2014, RBI expects to receive approval from the Financial Market Authority (FMA) for full repayment of the participation capital in the near future. As a first step, RBI intends to repay the total amount or at least a substantial part of the state-held tranche. The FMA has notified RBI that the approval will be granted promptly, enabling repayment to take place in the next 3 to 4 weeks.   - Net interest income of EUR 979 mn (up 13.2% y-o-y) - Net trading income of minus EUR 19 mn, mainly due to currency-driven valuation losses in Ukraine - General administrative expenses decreased to EUR 755 mn (down 4.2% y-o-y) driven by FX effects - Net provisioning for impairment losses increased to EUR 281 mn (up 28.1% y-o-y) - Profit before tax declined to EUR 240 mn (down 4.3% y-o-y ) - Consolidated profit increased to EUR 161 mn (up 2.5% y-o-y) - NPL ratio decreased to 10.6% (down 0.2PP compared to FY 2013) - NPL coverage ratio increased to 65.2% (up 2.1PP compared to FY 2013) - Common equity tier 1 ratio (transitional) at 13.9% (including participation capital) - Common equity tier 1 ratio (fully loaded) of 9.9%  - Leverage ratio of 5.9% comfortably surpasses the 3% envisaged regulatory ratio  Income Statement in EUR mn    Q1/2014    Q1/2013                           Net interest income           979        865                               Net provisioning for  impairment losses             (281)      (220)                             Net interest income after  provisioning                  697        645                               Net fee and commission  income                        376        375                               Net trading income            (19)       80                                General administrative  expenses                      (755)      (788)                             Net income from derivatives  and liabilities               (27)       (121)                             Net income from financial  investments                   37         87                                Profit before tax             240        251                               Profit after tax              173        174                               Consolidated profit           161        157                                Balance Sheet in EUR mn       31/03/14   31/12/13                          Equity                        12,821     10,364                            Total assets                  125,410    130,640                           NPL ratio                     10.6%      10.7%                             NPL coverage ratio            65.2%      63.1%                              Bank Specific Information     31/03/14   31/12/13                          Common equity tier 1 ratio  (transitional)                13.9%      10.7%                             Common equity tier 1 ratio  (fully loaded)                9.9%       n. a.                              Performance                   Q1/2014    Q1/2013                           Net interest margin           3.35%      2.89%                             Return on equity before tax   7.9%       9.2%                              Return on equity  (consolidated)                4.8%       5.6%                              Cost/income ratio             56.1%      58.5%                             Earnings per share in EUR     0.41       0.55                               Resources                     31/03/14   31/12/13                          Employees                     57,217     57,901                            Business outlets              2,991      3,025                              The outlook was adapted to the changed environment:  We expect loans and advances to customers in 2014 to remain at the approximate level of the previous year. We anticipate a net provisioning requirement of between EUR 1,300 million and EUR 1,400 million in 2014, however, results may be impacted by the ECB Asset Quality Review process and further deterioration of the situation in Ukraine and Russia. In the course of our cost reduction program, we plan to reduce general administrative expenses to below the level of 2012 by 2016. We aim to achieve a cost/income ratio of between 50 to 55 per cent by 2016. Costs in 2014 are expected to be below the level of 2013. We aim for a return on equity before tax of approximately 15 per cent and a consolidated return on equity of approximately 12 per cent in the medium term.  For further information please contact:  Susanne E. Langer Head of Group Investor Relations Spokesperson Raiffeisen Bank International AG Am Stadtpark 9 1030 Vienna, Austria ir@rbinternational.com phone +43-1-71 707-2089 www.rbinternational.com   22.05.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de  ---------------------------------------------------------------------------   Language:     English Company:      Raiffeisen Bank International AG               Am Stadtpark 9               A-1030 Vienna               Austria Phone:        +43-1-71707-2089 Fax:          +43-1-71707-2138 E-mail:       ir@rbinternational.com Internet:     www.rbinternational.com ISIN:         AT0000606306 WKN:          A0D9SU Listed:       Wien (Amtlicher Handel / Official Market)   End of Announcement                             DGAP News-Service   ---------------------------------------------------------------------------  
Press spacebar to pause and continue. Press esc to stop.