In the first quarter of 2024, Raiffeisen Bank International (RBI) reported that its Group result increased by one percent to 664 million euros. The RBI also announced that risk costs fell by more than 90 percent compared to the same period last year. CEO Johann Strobl stated that the earnings development was in line with expectations and that the decline in risk costs was encouraging.
Excluding contributions from Russia and Belarus, the consolidated result was 333 million euros. Net interest income increased by 70 million euros to 1.45 billion euros, driven by higher interest income in Central and Southeastern Europe. The largest increase in net interest income was recorded in Slovakia, with 25 million euros mainly coming from higher interest rate-related income from customer loans and deposits at the National Bank. However, net commission income fell by 297 million euros to 669 million euros, with Russia experiencing the largest decline.
Impairment losses on financial assets in the first quarter totaled 25 million euros, significantly lower than the previous year’s figure of 301 million euros. Looking ahead to the full year, RBI expects net interest income to be around 4.0 billion euros and net commission income to be around 1.8 billion euros. Customer receivables are expected to grow by 3 to 4 percent, with administrative expenses estimated at
