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RBI: Preliminary 2015 Consolidated Profit of EUR 383 Million
Raiffeisen Bank International AG (RBI) announces a preliminary 2015 consolidated profit of EUR 383 million. This is above the guidance previously given, primarily due to lower than expected net provisioning for impairment losses of EUR 1,266 million, 28 percent below 2014. This development was spread across a number of markets. General administrative expenses were EUR 2,915 million, 4 per cent below the prior year. Transformation program costs in 2015 were approximately EUR 90 million, in line with guidance. FY 2015 guidance had also included goodwill impairment charges and risk costs amounting to EUR 124.1 million, which were reallocated to FY 2014 in the course of a restatement.
RBI: Preliminary 2015 consolidated profit of EUR 383 million / Picture: © Raiffeisen Bank International / K. Keinrath
This restatement arose from a routine examination of RBI by the Austrian Financial Reporting Enforcement Panel under Section 2 (1) 2 of the Accounting Control Act. RBI expects to receive formal notification in the coming months confirming the result. The examination covered the consolidated 2014 financial statements and 2015 semi-annual report. The reallocation of the EUR 124.1 million…
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