Raiffeisen Bank International 4Q Net Profit Rose Boosted by Higher Interest Rates
February 01 2023 - 2:33AM
Dow Jones News
By Adria Calatayud
Raiffeisen Bank International AG reported a rise in
fourth-quarter net profit as net interest income benefited from
higher interest rates, and guided for 2023 net interest income
below 2022 levels.
The Austrian bank, one of the few Western lenders still with a
significant presence in Russia, said late Tuesday that net profit
for the fourth quarter was 826 million euros ($897.5 million)
compared with EUR317 million in the year-earlier period.
Fourth-quarter operating income grew to EUR1.88 billion from
EUR1.62 billion, as net interest income for the quarter increased
to EUR1.46 billion from EUR976 million a year before, the bank
said.
Raiffeisen said it anticipates net interest income for 2023 to
be between EUR4.5 billion and EUR4.7 billion, with loans to
customers expected to grow by 2% to 4%. That compares with the
bank's 2022 net interest income of EUR5.05 billion.
The bank said its board will recommend a dividend of up to
EUR0.80 a share for 2022, but that the timing of the decision is
uncertain and unlikely to be made at its annual general meeting on
March 30. Raiffeisen said earnings from Russia and Belarus can't be
distributed and that any decision on dividends will be based on its
capital position excluding Russia.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
February 01, 2023 02:18 ET (07:18 GMT)
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