Raiffeisen Bank International Reports Stable Performance in Core Business for H1 2024

Raiffeisen Bank International AG (RBI) has reported a consolidated profit of EUR 604 million for the first half of 2024, excluding Russia and Belarus. This figure includes EUR 391 million in provisions for CHF and EUR mortgage loans in Poland.

Core revenues, excluding Russia and Belarus, remained stable at EUR 1,523 million quarter-over-quarter. A slight decrease in net interest income, driven by margins, was offset by improved net fee and commission income. Provisioning for impairment losses increased to EUR 78 million in Q2/2024, excluding Russia and Belarus. The CET1 ratio stayed stable at 14.7% for the Group, excluding Russia.

In Russia, the bank has reduced customer loans by nearly 60% since Q2 2022 to EUR 5.8 billion, amid broad restrictions on payments and efforts to lower customer deposits.

The bank reaffirmed its 2024 ROE guidance at 10%, excluding Russia and Belarus.