Consensus Estimates

One-off or unusual effects in Q4 2021

  • EUR 60 million net interest income was booked in the fourth quarter for COVID-19 TLTRO bonuses (EUR 40 million in head office, Tatra banka EUR 20 million). This includes a one-off booking of EUR 41 million (EUR 26 million in head office, Tatra banka EUR 15 million) for the coming periods (2022-2024) following a change in booking methods. Going forward, we expect no further COVID-19 TLTRO bonuses in net interest income.

 

Additional information relating to Q4 2021

  • EUR 133 million of credit-linked and portfolio-based provisions for litigation in Poland were booked in other result.

Disposal of Raiffeisenbank Bulgaria and its subsidies reported under IFRS 5

  • From Q4 2021, the income statement and balance sheet items of the Bulgarian unit will be shown separately.

Income Statement FY 2021e

Consensus in EUR Million Mean (Average) Max

Min

Net interest income 3,343 3,382 3,301
Net fee & commission income 2,011 2,036 1,967
Other operating components 169 242 (122)
Operating income 5,525 5,617 5,248
General admin expenses (3,021) (2,868) (3,173)
Operating result 2,504 2,642 2,342
Other result (320) (158) (490)
Governmental measures and compulsory contributions  (209) (186) (225)
Impairment losses on financial assets (284) (196) (333)
Profit/loss before tax
1,874 2,146 1,696
Tax expense (413) (373) (456)
Profit/loss after tax 1,461 1,703 1,286
Consolidated profit/loss 1,319 1,465 1,187

 

Key Ratios / Bank-specific Information FY 2021e

Monetary values in Euro Million Mean (Average) Max

Min

Risk-weighted assets (total RWA) 89,971 92,484 88,084
Loans to customers 102,120 104,373 99,567
Risk cost 0.30% 0.35% 0.21%
CET1 ratio (fully loaded) 13.2% 13.5% 13.0%
Net interest margin 1.91% 1.95% 1.81%
Cost/income ratio 54.1% 55.1% 51.6%
Consolidated return on equity 10.3% 11.5% 9.0%
Dividend in EUR 1.20 1.78 0.52

The consensus estimates of earnings are based on earnings forecasts made by securities analysts who follow the development of Raiffeisen Bank International. The views expressed and forecasts, estimates, and predictions made by those analysts regarding performance (and hence the figures of the consensus estimates) solely reflect the opinions of those analysts, and not the opinions, forecasts, estimates, or predictions of Raiffeisen Bank International or its management. The fact that Raiffeisen Bank International makes these figures available does not mean that the company endorses or agrees with this information, conclusions, or recommendations. Raiffeisen Bank International assumes no liability for the accuracy of these estimates or obligation to update or revise them. 

 Last update: 11 January 2022