RBI’s Results Above Expectations

Professional ServicesBanks ♦ Published: May 26, 2011; 10:10 ♦ (Vindobona)

The Austrian bank’s consolidated profit fell by 19.1% to € 270m, while analysts expected a decline to only € 253m. Net provisioning for impairment losses went down by 35.9%.

RBI’s Results Above Expectations / Picture: © Raiffeisen Bank International AG / S. Klimpt

Raiffeisen Bank International AG (RBI) posted a consolidated profit (after tax and non-controlling interests) of € 270m in the first quarter of 2011, which represents a decline of 19.1% compared to RBI's pro forma consolidated profit in the first quarter of the preceding year (pro forma Q1 2010: € 334m). In contrast, RBI's profit before tax rose by 3.3% to € 405m (pro forma Q1…