RBI: Significant Decline in Profits in the First Half of 2019

Professional ServicesFinancial Services ♦ Published: August 8, 2019; 11:55 ♦ (Vindobona)

Stock Exchange-listed RBI Raiffeisen Bank International recorded a significant 25% decline in profits in the first half of 2019. The consolidated profit generated was only €571 million, compared to €756 million in the first half of 2018.

In the coming years Raiffeisen Bank International targets a consolidated return on equity of approximately 11 per cent. / Picture: © Raiffeisen Bank International AG

“Customer loans grew by 9 per cent, especially in Austria, Russia and Central Europe, in the first half of 2019. Despite the low interest rate environment, net interest income and net fee and commission income developed very positively, and risk costs remained at a very low level,” said CEO Johann Strobl.

Overall, net interest income rose slightly by € 2 million to €…