Raiffeisen Bank International (RBI) increase its income dramatically for the last financial year. Profits has risen up to 1,37 billion euros from 804 million euro from the last year (70%), announced in Wednesday which operates in most Eastern Europe countries and Russia. Risk outlays are falling up to 295 million euros from 598 million euros. Stockholders are receiving dividends from 1,15 euro for every single share from 2020.
Net interest income has increased with seven percentage up to 3,33 billion euros, thanks to higher volumes and higher interest rates. Net incomes from commissions has increased with 18% up to 1,99 billion euros, the highest they’ve ever been.
For the current Fiscal year the board of directors expects growth in customer loans by between seven and nine percent. The Bank continues to adhere to its medium-term objectives, such as a cost-to-income ratio (CIR) of around 55%. At the end of the year, the core tier 1 capital is expected (CET1) to be around 13%.
At the end of last year, it became clear that the Austrian bank will sell its business in Bulgaria to the Belgian-based KBC for 1.15 billion euros, including the subsidiaries. Raiffeisenbank Bulgaria has been in the country since 1994 and has a network of 122 bank branches. The credit institution ranks sixth in the market, with its assets accounting for 7.9% and loans for 8.4% of loans in Bulgaria. The bank has 2,500 employees, serving 635,000 customers.