Raiffeisen Bank International 1Q Net Profit Grew on Lower Impairments
May 07 2021 - 2:23AM
Dow Jones News
By Pietro Lombardi
Raiffeisen Bank International AG on Friday posted higher profits
for the first quarter, helped by lower impairments on financial
assets.
The Austrian banking group's quarterly net profit rose 22% to
216 million euros ($260.6 million).
Operating income fell roughly 11% to EUR1.26 billion, as both
net interest income and fees and commissions declined.
However, the bank reported lower expenses, which couple with a
49% decline in impairments on financial assets, supported the
bottom line.
The bank expects return on equity to improve this year and
targets an 11% ROE in the medium term. The provisioning ratio for
this year is expected to be around 75 basis points.
Write to Pietro Lombardi at pietro.lombardi@wsj.com;
@pietrolombard10
(END) Dow Jones Newswires
May 07, 2021 02:08 ET (06:08 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Raiffeisen Bank (PK) (USOTC:RAIFY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Raiffeisen Bank (PK) (USOTC:RAIFY)
Historical Stock Chart
From Apr 2023 to Apr 2024
