RBI: First to third quarter of 2025

Raiffeisen Bank International (RBI) generated a consolidated profit of EUR 1.027 billion (up 21 per cent compared to the same period in 2024) in its core group (excluding Russia) in the first nine months of 2025. Net interest income remained virtually unchanged compared with the same period last year despite declining interest rates in most of RBI's markets. Net feeand commission income rose significantly by 9 per cent.

Loans to customers in the core group rose by 3 per cent to around EUR 98.5 billion compared to the end of 2024.

RBI's CET1 ratio excluding Russia was 15.7 per cent at the end of the third quarter of 2025. RBI calculates this ratio based on a worst-case scenario in which it must deconsolidate Raiffeisenbank Russia and loses its entire equity in the process.

"The positive development in our core business continued in the third quarter. We achieved a very good result in view of the interest rate cuts and the challenging macroeconomic environment," said RBI CEO Johann Strobl.

Risk costs and the quality of the loan portfolio showed a positive development in the first nine months of 2025. Risk costs amounted to EUR 120 million, down around 23 per cent on the same period in 2024. The number of loan defaults remained at a very low level. The NPE ratio improved to 1.7 per cent, which is a historically low level.

“I am very satisfied with the quality of our loan portfolio. In light of geopolitical tensions, we  consistently pursue our forward-looking risk policy,” explained RBI Chief Risk Officer Hannes Mösenbacher.

Continued reduction of business in Russia

RBI continued to reduce its business in Russia in the first nine months of 2025. Since the start of the war, Raiffeisenbank Russia's loan volume has been reduced from EUR 13.7 billion to EUR 4.5 billion. This means that Raiffeisenbank Russia is now only RBI's fifth-largest subsidiary bank in terms of loan volume. Raiffeisenbank Russia's deposit volume has declined 38 per cent since the start of the war. Raiffeisenbank Russia's contribution to the group's overall result was significantly impacted by the damages awarded to Rasperia Trading Limited by a Russian court, which were collected from Raiffeisenbank's account with the Russian Central Bank. As a result, RBI's consolidated profit including Russia is around EUR 100 million lower than the consolidated profit
excluding Russia. 

Retail Banking and Corporate and Investment Banking with solid results in the core group

RBI’s Retail Banking division, covering primarily business with private individuals in Central and Eastern Europe,  delivered superior performance this year, based largely on its successes in acquiring customers digitally and improving customer experience. Customer deposits increased 12 per cent, above all in saving accounts, with the Czech Republic and Romania being the main contributors. Loan volumes grew 10 per cent, largely from mortgages and personal loans. The Czech Republic and Slovakia accounted for over half of retail loan growth.

“By expanding our digital offerings, such as the option to search for and purchase products within the mobile banking-app, we are both improving customer experience and enabling cross-selling. And the growth in sales of our fee-based products strengthens our resilience against interest rate volatility,” stated Andrii Stepanenko, RBI Board Member in charge of Retail Banking.

The Corporate and Investment Banking business continues to perform well. 40 per cent of operating income is generated at the head office in Vienna and 60 per cent at the Austrian and international subsidiaries. While the current interest rate trend across most currencies had a negative impact on net interest income, net fee and commission income rose by 5 per cent. This is primarily attributable to an increase in foreign exchange trading and payment transactions for customers in numerous RBI markets.

“Business with corporate and institutional clients makes a substantial contribution to RBI's results. The relevant customer benefits resulting from our bridging function, particularly between Western Europe and Central and Southeastern Europe, play a decisive role in this context. Accordingly, our growth ambitions focus on further strengthening our international offering in line with the needs of our customers," said Valerie Brunner, member of the RBI Management Board responsible for Corporate and Investment Banking.

GDP growth and inflation: significant differences between countries

The business environment is characterized by geopolitical uncertainties, but these have so far had only a minor impact on the sentiment of economic and financial market players. Raiffeisen Research expects the increased US tariffs to dampen export growth and economic growth in Europe. In the medium term, the German infrastructure package and rising defense spending should give the economy a certain boost. GDP growth is expected to be driven by a solid increase in private consumption and improved private investment demand. Inflation remains elevated in most countries in Central and Southeastern Europe, but is expected to decline gradually by 2026, providing scope for interest rate cuts. In the euro area, key interest rates should remain unchanged as inflation is close to the ECB's target. 

Please find the result tables here: