Consensus Estimates

One-off or unusual effects in Q3 2021

  • There is an approx. negative 30 bps impact to group CET1 ratio resulting from the first time consolidation of Equa bank
  • There is an approx. positive 10 bps impact to group CET1 ratio resulting from the additional dividend proposal for 2020 (November 10th extraordinary general meeting)

 

Additional information relating to Q3 2021

  • EUR 40 million of credit-linked and portfolio-based provisions for litigation in Poland were booked in other result.
  • In the quarter, Equa bank contributed EUR 16 million to NII, EUR 10 million to OPEX and EUR 15 million to impairment losses on financial assets (mainly from stage 1).

Income Statement Q3

Consensus in EUR Million Mean (Average) Max

Min

Net interest income 830 852 809
Net fee & commission income 490 534 460
Other operating components 49 70 14
Operating income 1,368 1,415 1,332
General admin expenses (746) (719) (770)
Operating result 622 664 583
Other result (60) (14) (98)
Governmental measures and compulsory contributions  (19) (6) (36)
Impairment losses on financial assets (83) (47) (136)
Profit/loss before tax
467 568 324
Tax expense (107) (68) (129)
Profit/loss after tax 361 441 255
Consolidated profit/loss 328 401 236

 

Key Ratios / Bank-specific Information Q3

Monetary values in Euro Million Mean (Average) Max

Min

Risk-weighted assets (total RWA) 86,617 87,699 85,101
Loans to customers 96,818 99,431 95,000
Risk cost 0.35% 0.57% 0.20%
CET1 ratio (fully loaded) 13.2% 13.6% 12.9%
Net interest margin 1.92% 2.16% 1.79%
Cost/income ratio 54.9% 56.8% 52.4%
Consolidated return on equity 9.4% 11.5% 6.9%

Income Statement FY 2021e

Consensus in EUR Million Mean (Average) Max

Min

Net interest income 3,233 3,337 3,109
Net fee & commission income 1,897 1,999 1,830
Other operating components 212 265 43
Operating income 5,342 5,508 4,982
General admin expenses (2,995) (2,913) (3,141)
Operating result 2,347 2,468 2,007
Other result (292) (151) (513)
Governmental measures and compulsory contributions  (195) (152) (235)
Impairment losses on financial assets (400) (229) (610)
Profit/loss before tax
1,504 1,731 1,094
Tax expense (357) (281) (402)
Profit/loss after tax 1,147 1,336 801
Consolidated profit/loss 1,031 1,225 697

 

Key Ratios / Bank-specific Information FY 2021e

Monetary values in Euro Million Mean (Average) Max

Min

Risk-weighted assets (total RWA) 86,921 89,518 81,926
Loans to customers 97,664 100,133 94,191
Risk cost 0.43% 0.66% 0.24%
CET1 ratio (fully loaded) 13.4% 13.8% 13.0%
Net interest margin 1.96% 2.39% 1.81%
Cost/income ratio 56.0% 59.7% 54.0%
Consolidated return on equity 8.1% 10.0% 6.2%
Dividend in EUR 1.02 1.68 0.54

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: 28 October 2021