Reports
First Quarter Report 2024
Consolidated profit excluding Russia and Belarus remains strong
- Consolidated profit of EUR 333 million, excluding Russia and Belarus and including EUR 109 million provisions for CHF mortgages in Poland
- Core revenues excluding Russia and Belarus down 4% quarter-over-quarter to EUR 1,519 million, mainly driven by lower interest rates and seasonal effects
- Lower provisioning for impairment losses: EUR 3 million for the Group excluding Russia and Belarus
- CET1 ratio excluding Russia unchanged at 14.6% (Group CET1 ratio at 17.3%)
- Customer loans in Russia down 58% since peak in Q2/2022 to EUR 5.8 billion as part of de-risking approach to Russia
- The 2024 guidance for the Group including Russia and Belarus has been suspended in light of the ECB’s requirement to accelerate business reduction in Russia