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Analysts & Estimates

Equity Analysts and Raiffeisen Bank International Consensus for FY 2023e

Equity analysts

Alpha Value / FairesearchDieter Hein
Autonomous ResearchGabor Kemeny
Bank of America Merrill LynchAlastair Ryan
BarclaysKrishnendra Dubey
CitigroupSimon Nellis
Concorde SecuritiesHai Thanh Le Phuong
Deutsche Bank AGMarlene Eibensteiner
Erste BankThomas Unger
HSBCJohannes Thormann
JP MorganMehmet Sevim
Keefe, Bruyette & WoodsHugo Cruz
Kepler CheuvreuxBenoit Petrarque
mDom MaklerskiMichal Konarski
MediobancaRiccardo Rovere
PekaoAdam Motala
PKORobert Brzoza
Societe GeneraleAlan Webborn
UBSMate Nemes
WoodMarta Jezewska-Wasilewska

One-Offs Q4 2023

One-off or unusual effects in Q4 2023
There were no unusual effects in the third quarter.

Additional information relating to Q4 2023

  • Around EUR 273 million of credit-linked provisions for litigation and annulment of loan agreements in Poland were booked in other result.
  • Compared to the previous quarter, higher income taxes were booked in Ukraine (additional EUR ~75 million, due to increase in tax rate) in Q4.

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: 29 January 2024

Consensus Q4 2023e

Income Statement Q4 2023e

Consensus in EUR million


Net interest income1,4431,4931,410
Net fee and commission income660711593
Other operating components7912630
Operating income2,1822,2562,101
General administrative expenses-1,057-1,006-1,126
Operating result1,1241,242977
Other result-314-230-424
Governmental measures and compulsory contributions-39-15-68
Impairment losses on financial assets-201-124-386
Profit/loss before tax571766413
Tax expense-224-143-283
Profit/loss after tax (incl. profit from discontinued operations)347560204
Consolidated profit/loss318499145

Key ratios / balance sheet information for Q4 2023e

 Monetary values in EUR million


Risk-weighted assets (total RWA)96,94198,97694,536
Loans to customers102,655104,287101,642
Cost of risk0.59%0.82%
CET1 ratio (fully loaded)16.2%16.9%15.6%
Net Interest Margin2.90%3,01%2.84%
Cost/income Ratio
Consolidated Return-on-Equity

Income statement Q4 2023e excluding Russia and Belarus

Consensus in EUR million


Net interest income1,1141,1361,102
Net fee and commission income462481448
Other operating components58902
Operating income1,6341,6701,584
General administrative expenses-834-818-858
Operating result801833755
Other result-326-274-428
Governmental measures and compulsory contributions-29-9-51
Impairment losses on financial assets-174-125-211
Profit/loss before tax278385122
Tax expense-161-46-268
Profit/loss after tax (incl. profit from discontinued operations)11831810
Consolidated profit/loss119331-16


Key ratios/balance sheet information for Q4 2023e excluding Russia and Belarus

Monetary values in EUR millionMeanMaxMin
Risk-weighted assets (total RWA)81,78084,19977,471
Loans to customers95,67197,32893,622
Cost of risk0.73%0.88%0.53%
CET1 ratio (fully loaded)13.8%14.5%12.5%
Net Interest Margin2.48%2.54%2.41%
Cost/income Ratio
Consolidated Return-on-Equity