Archive 2011

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Eurozone sliding into recession in 2012 * Eurozone GDP expected to contract by -1.0 per cent * Absence of a sustainable solution to the debt problem is also weighing on stock markets and corporate bond rates * Asset allocation: high-quality bonds preferred

The majority shareholder of Raiffeisen Bank International (RBI), Raiffeisen Zentralbank Österreich AG (RZB) held an extraordinary shareholders' general meeting today...

SkyTower: a new landmark for the Romanian capital * Raiffeisen evolution sells the office development to Raiffeisen Property International
SkyTower becomes the new headquarter for Raiffeisen Bank Romania * Promenada Shopping Center and Floreasca Office on the same site * Floreasca City creates a mix of business and shopping within a single location

Please find below the recently published release of our majority shareholder RZB...

Profit before tax rises 3.5 per cent year-on-year to € 1,032 million (1-9 2010: € 997 million) * Consolidated profit declines by 4.8 per cent to € 745 million (1-9 2010: € 783 million) * Net trading income increases 13.5 per cent to € 293 million (1-9 2010: € 258 million) * Net provisioning for impairment losses drops 14.4 per cent to € 782 million (1-9 2010: € 913 million) * Non-performing loan ratio improves by 0.6 percentage points against year-end 2010 to 8.4 per cent * Coverage ratio improves by 4.2 percentage points against year-end 2010 to 70.5 per cent * Return on equity before tax declines by 0.5 percentage points year-on-year to 13.6 per cent * Cost/income ratio 2.6 percentage points higher year-on-year to 55.8 per cent * Core Tier 1 Ratio (total) declines by 1.0 percentage points against year-end 2010 to 7.9 per cent * Tier 1 ratio (total) falls by 1.0 percentage points against year-end 2010 to 8.7 per cent

RZB's sub-group RBI will present its positive result for the third quarter on November 24. * That result will further raise the profit before tax of € 879 million RBI achieved during the first half of the year.

Event raises nearly € 106,000 * Donations will fund two homes for disadvantaged families in Ukraine * Cookbook presented at event provides recipes from Central and Eastern Europe

Very favourable growth outlook for six CEE banking markets representing 80 per cent of the region's total banking assets * Lending volume growth in the region accelerated in 2010 and first half of 2011 * Global economic slow-down suggests caution in near-term outlook for CEE banking sector * Total loan volume in CEE corresponds to 7.5 per cent of volumes in eurozone * No changes in ranking of region’s Top 5 EU-based banking groups

13 projects with a total deal volume of EUR 2.5 bn successfully executed * Two projects with a deal volume of EUR 1.0 bn near completion * Recent highlights: finalisation of a major project in the pharmaceutical sector in Turkey and of a project in the industrial sector in Poland * RIAG currently engaged in roughly 70 mandates in its core markets Russia, Turkey and Poland.

RBI places sixth in European Ranking of "Top Companies for Leaders 2011" * RBI is first Austrian company to receive this distinction * Entire RBI Group recognized for its achievements

Roughly 300 guests attend event in RBI’s Raiffeisensaal * Raiffeisen is Austria's first choice for savings accounts * Raiffeisen Banking Group manages savings deposits totalling € 50.3 billion

RZB welcomes in principle decisions that aim to ensure greater stability in the eurozone. * More than doubled Core Tier 1 ratio target of 9 per cent results, according to EBA, in an additional calculatory capital requirement of € 1.9 billion for the RZB Group. RZB considers this amount to be excessive. For example, € 1 billion in participation capital subscribed by private investors was not taken into account. * RZB's sub-group RBI was not addressed in the EBA analysis, but would have a lower additional calculatory capital requirement. * RZB will take all necessary measures to comply with the new requirements. From today's perspective, the RZB Group will not need state support to do so.

As of November 2011 Ingrid Krenn-Ditz will take over the management of Raiffeisen Bank International AG’s Public Relations department, which falls into CEO Herbert Stepic's area of responsibilities within the bank’s Managing Board...

Corporate Eurobond successfully placed despite tough market conditions * RBI one of two Joint Lead Managers and Bookrunners

Low sovereign exposure to peripheral countries * Very low goodwill of EUR 3.5 million for Hungary, no goodwill booked for Romania * Profit expected for business year 2011

“Best Cash Management Services in CEE & CIS” distinction in addition to earlier “Best Bank in CEE & CIS” and “Best Bank in Austria awards” * 

Awards confirm bank's approach to customer relationships * Innovative products for sophisticated clients

Average real GDP growth will slow down to 2.3 per cent in 2012 (3.2 per cent in 2011) in CEE; higher growth rates compared to the eurozone in the medium term * Bond and exchange markets under pressure * General environment still burden for equities * Equity recommendations: Oesterreichische Post, conwert, TPSA, PGE, Polymetal

Appointment subject to approval of Central Bank of Russia * Excellent track record of 15 years in the bank * RBI most geared towards Russia among Western banks

GDP growth forecast in eurozone lowered to 0.2 per cent for 2012: * Risk of recession in eurozone remains high * Inflation falls to well below 2 per cent * Growth in emerging markets slowed by European debt crisis * Asset allocation: Overweighting of defensive sectors recommended * Gold price to continue rising in environment of high uncertainty

Some 1,000 guests enjoyed a gala event at Warsaw's National Philharmonic Hall * Pioneering role in Polish banking sector * Pending merger with Polbank to create a leading universal bank in Poland

After the publication of RBI's Semi-Annual Financial Report 2011, the Senior Management of RBI will be on Roadshow for the next two weeks...

It is with deep sorrow that the Managing Board of Raiffeisen Bank International AG (RBI) has to inform about the death of Pavel Gurin, CEO of ZAO Raiffeisenbank in Russia...

Consolidated profit up 30.3 per cent year-on-year * Profit before tax rises 51.6 per cent to € 879 million (H1 2010: € 579 million) * Net trading income increases to € 256 million (up 33.2 per cent year-on-year), positively affected by an extraordinary income (€ 32 million) from a capital hedge in Belarus * Net provisioning for impairment losses declines by 33.3 per cent to € 405 million (H1 2010: € 608 million) * Non-performing loan ratio improves by 0.5 percentage points against year-end 2010 to 8.5 per cent * Coverage ratio improves by 2.2 percentage points against year-end 2010 to 68.5 per cent * Return on equity before tax rises 4.9 percentage points year-on-year to 17.1 per cent
Cost/income ratio 2.1 percentage points higher year-on-year to 55.1 per cent * Core Tier 1 ratio (total) declines by 0.4 percentage points against year-end 2010 to 8.5 per cent

Deal oversubscribed by 25 per cent despite difficult markets * Large number of new investors * High granularity of order book

Czech Republic now second market for ZUNO, following launch in Slovakia at the end of 2010 * ZUNO targets Internet-focused customers and complements Raiffeisen's existing branch-based franchise * ZUNO’s Slovakian operations have collected over € 125 million in deposits from 18,000 clients

Core Tier 1 capital ratio would be 7.8 per cent on the basis of simulated adverse scenario * Result well above 5 per cent capital benchmark set by EBA * Business model proves stress resistance

Raiffeisenbank (Bulgaria) EAD among 5 Bulgarian banks receiving guarantee agreements from EIB under JEREMIE initiative * Guarantee agreements to allow new loans of up to € 400 million of new loans * 3,400 Bulgarian business to be supported

RBI has received this award for the sixth time * Subsidiaries in Albania, Belarus and Ukraine are “Best Bank” of their country * RBI honoured as ”Best Bank in CEE” for the third time this year

CEE region with real GDP growth of 3.8 per cent in 2011 * “Buy” recommendation for CEE equity markets * Aggregate earnings growth of 31.8 per cent forecast for ATX companies in 2011 * Recommendations: OMV, conwert, Semperit, CEZ, Magyar Telekom

Raiffeisen Investment AG advised on the largest M&A deal in Bulgaria in 2011– The acquisition of a 73% stake in the lignite-fired plant “Maritza East III” from Enel by ContourGlobal for a total consideration of 545 million Euros...

"Best Bank" awards also for RBI in Austria and Bosnia and Herzegovina * RBI-Network banks in Albania, Belarus, Rumania and Russia awarded as "Best Foreign Bank"

European Commission provides anti-trust approval * Polish authorities pass law to transform Polbank into licensed bank * Closing and operational merger expected in Q4/2011 or Q1/2012

Growth rates within the eurozone to vary widely in 2011; average GDP growth of 2 per cent * Greek debt crisis as "litmus test" for the eurozone * Macro data and corporate results set to regain greater prominence over the short term * The euro profits from ECB interest rate hikes * Asset allocation: Favourable valuations and positive earnings prospects justify upgrading stocks to “neutral”

18,000 ZUNO customers in Slovakia * Deposit volume of more than € 125 million * 3-year term deposit proves especially popular

More than 800 guests attend 20th anniversary event * Founded 1991, Tatra banka now third-largest bank in Slovakia * Slovakia has second largest share in RBI's total assets in CEE

Dividend of €1.05 per share * Authorisation for newly authorised capital granted * Authorisation to redeem the participation capital * Walter Rothensteiner re-elected to Supervisory Board

Consolidated profit of € 270 million, down 19.1 per cent year-on-year due to tax burdens (pro forma Q1 2010: € 334 million) * Deferred taxes increase by € 35 million due to valuation gains in Q1 2011 * Profit before tax rises 3.3 per cent to € 405 million (pro forma Q1 2010: € 392 million) * Net provisioning for impairment losses declines by 35.9 per cent to € 208 million (pro forma Q1 2010: € 325 million) * Non-performing loan ratio declines to 8.6 per cent, coverage ratio improves to 68 per cent * Return on equity before tax declines to 15.6 per cent (0.9 percentage points lower on a year-on-year basis) * Cost/income ratio increases to 56.2 per cent (plus 3.0 percentage points year-on-year) * Core tier 1 ratio, total remains unchanged at 8.9 per cent * Tier 1 ratio, total remains unchanged at 9.7 per cent

Economic recovery expected to start in second half of 2011 * GDP seen up by modest 1 per cent for 2011 as a whole * EU membership possible in 2013, but obstacles remain * Speedy growth of public debt raises concerns * Non-performing loans in market seen reaching 14 per cent * 2011 marked by domestic currency's strength against euro

Trade Finance magazine published “Deals of the Year” * Three Russian deals involving Raiffeisen recognized * Structured finance facility for Enisey, syndicated pre-export loan facility for SUEK and pre-export finance facility for Mechel awarded 

Erste Group Bank AG, Raiffeisen Bank International AG and UniCredit Bank Austria AG as Mandated Lead Arrangers and Bookrunners are pleased to advise that the € 500 million Austrian Club Facility for Porsche Holding Gesellschaft m.b.H. (“Porsche Holding Salzburg”) was successfully signed on 10 May 2011...

Loan promotes onlending to small and medium-sized enterprises * EBRD’s third financing deal with Raiffeisen Leasing Bulgaria * In total, EBRD has extended € 40 million to Raiffeisen Leasing Bulgaria

Large number of new investors * High granularity of orderbook * Strong placement to Austria

Second largest EUR-denominated senior unsecured issue by an Italian bank in 2011 * Placed within a few hours * Strong participation of regional Tier 2 and Tier 3 investors

Credit card and "topbonus" frequent flier card in one * RBI acts as card issuer, Raiffeisen Versicherung as credit card insurer * Customers earn topbonus reward miles with each payment

Attendance of more than 110 analysts and institutional investors * First large investor-focused event since the merger * Platform for intensive exchange of ideas with the financial community

Martin Grüll (CFO), Herbert Stepic (CEO) and Johann Strobl (CRO) presenting the Annual Report 2010

Consolidated profit rises 141.5 per cent year-on-year to € 1,087 million (pro forma 2009: € 450 million) * Net interest income increases by 9.0 per cent to € 3,578 million (pro forma 2009: € 3,282 million) * Net provisioning for impairment losses declines by 46.5 per cent to € 1,194 million (pro forma 2009: € 2,232 million) * Net fee and commission income rises 4.9 per cent to € 1,491 million (pro forma 2009: € 1,421 million) * Profit before tax increases by 62.9 per cent to € 1,287 million (pro forma 2009: € 790 million) * Return on equity before tax improves by 4.2 percentage points year-on-year to 13.7 per cent (pro forma 2009: 9.5 per cent) * Core tier 1 ratio, total increases by 0.4 percentage points year-on-year to 8.9 per cent; Tier 1 ratio, total increases by 0.3 percentage points to 9.7 per cent * Earnings per share rise by € 3.27 to € 4.56 (pro forma 2009: € 1.29)

Economic growth in CEE and Austria remains solid * Inflation fears do not weigh on economic growth * "Buy" recommendation for CEE equity markets * ATX: earnings growth rate for this year around 34 per cent * Recommendations: Bene, conwert, Gazprom, Getin Holding and Globe Trade Center

Raiffeisen Bank International receives CEE regional award for the fifth time in a row * "Best Bank" awards for Austria, Bosnia and Herzegovina, and Kosovo

GDP growth of 1.8 per cent in the eurozone * Further rise in the oil price could have negative consequences for recovery * Moderately positive economic outlook for the USA * Inflation will continue to rise until the summer * Japan stock exchange overshadowed by disaster * ECB interest rate rise puts bond markets under pressure and justifies overweighting of shares in the asset allocation

Romania’s GDP expected to grow 1.5 per cent in 2011 * Inflation rate to decrease significantly in 2011, but to remain at comparatively high level * Fiscal policy set on a sustainable path; agreements with IMF and EC expected to offset still existing risks for slippage * Exchange rate seen appreciating slightly, assuming no major risks materialize

Purchase price EUR 490 million in cash for 70 per cent * Polbank ideal complement to existing Raiffeisen Bank Polska * Combined bank will service more than 1 million customers

Issue size of EUR 500 million exceeds expectations * Corporate bond successfully placed within a few hours * RBI one of two Joint Lead Managers

Agreement strengthens cooperation in supporting Italian businesses with interest in CEE * Customers of Italy's cooperative credit banks and rural banks to benefit from RBI's expertise and presence in CEE * Cooperation an example of collaboration among members of Europe's cooperative banking sector

Order book significantly oversubscribed * First unsecured bond issued by an Austrian bank in over 2 years * 3 year tenor, attractive pricing