RBI 1-9/2026: Consolidated profit (excl. Russia) of more than EUR 1.1 billion, up 10 per cent

Raiffeisen Bank International (RBI) generated a consolidated profit of more than EUR 1.1 billion in its core group (excluding Russia) in the first nine months of 2026. This represents an increase of 10 per cent compared to the same period of the previous year. Net interest income rose 7 per cent to EUR 3,347 million compared to the same period of the previous year. Net fee and commission income increased significantly by 10 per cent to EUR 1,624 million.

Loans to customers in the core group increased 8 per cent to EUR 109 billion compared to the end of 2025.

“We can look back on three strong quarters. Our core business is performing very well, and our solid position in attractive markets provides an excellent foundation for further growth. At the same time, we have made significant progress on two key initiatives in recent months: the acquisition of Garanti BBVA Romania and the planned takeover of Addiko Bank. The final judgment against Rasperia also marks an important milestone for us, in the interests of our shareholders and with the aim of compensating for the losses incurred in Russia,” said RBI CEO Michael Höllerer.

CET 1 ratio of 15.4 per cent

RBI 's common equity tier 1 (CET1) ratio, excluding Russia, was 15.4 per cent at the end of the third quarter of 2026. In calculating this figure, RBI assumes a worst-case scenario in which it has to deconsolidate Raiffeisenbank Russia and  loses its entire equity in the process.·

“RBI has a strong capital base, which provides the flexibility for further growth in the coming years,” commented RBI Chief Financial Officer Kamila Makhmudova.

Forward-looking risk policy

The quality of the loan portfolio remains excellent with an NPE ratio of 1.5 per cent at the end of the third quarter of 2026. Impairment losses on financial assets in the core group amounted to EUR 159 million in the first nine months of 2026.

“The stability of our loan portfolio confirms the sustainability of our risk policy. Despite a continuing volatile environment, our NPE ratio has been at an all-time low. At 18 basis points, risk costs remained moderate in the third quarter,” explained RBI Chief Risk Officer Hannes Mösenbacher.

Good progress on M&A projects and the Rasperia lawsuit

Significant hurdles have been cleared in the damages lawsuit against Rasperia. RBI has secured a legally binding claim for damages in the amount of EUR 3.15 billion and will shortly file a request with the FMA, the competent sanctions authority, to release Rasperia’s Austrian assets to enforce it.

The two M&A projects announced by RBI in the first half of the year made further progress in the third quarter. The acquisition of Garanti BBVA Group Romania was completed at the beginning of November. 

As of 2 November 2026 17:00 CET, RBI had received declarations of acceptance relating to a total of 18,493,867 Addiko shares. This corresponds to 94.84 per cent of all Addiko shares.

Applications for regulatory approvals were submitted to the competent supervisory authorities in Austria, Slovenia, Croatia, Serbia, Montenegro, and Bosnia and Herzegovina. RBI is engaged in constructive dialogue with all relevant banking supervisory authorities, and the respective approval processes are progressing as planned. The regulatory approval process in Serbia has already been successfully completed.

Following the revocation of Alta Banka d.o.o.’s banking licence by the National Bank of Serbia, the planned carve-out of Addiko Bank a.d. Beograd (Serbia), Addiko Bank d.d. Sarajevo and Addiko Bank d.d. Banja Luka (both Bosnia and Herzegovina), as well as Addiko Bank A.D. Podgorica (Montenegro), currently appears unlikely. RBI therefore expects to retain all Addiko subsidiaries.

Outlook 2026

The following guidance refers to RBI excluding Russia, incl. Garanti, and assumes Addiko approvals and settlement in Q4, with an assumed acceptance rate of 94.84 per cent (one-off positive impact on the consolidated return on equity of c. 310 basis points).

• In 2026, net interest income is expected above EUR 4.5 billion and net fee and commission income around EUR 2.2 billion.
• RBI expects general administrative expenses around EUR 3.9 billion, resulting in a cost/income ratio of around 55 per cent.
• The provisioning ratio is expected to be up to 35 basis points.
• The consolidated return on equity is expected to be around 13 per cent in 2026.
• RBI expects loans to customers to grow by around 9 per cent (excluding acquisitions).
• At year-end 2026, RBI expects a CET1 ratio of around 14.5 per cent* (including announced acquisition projects). 

In the medium term, RBI aims to achieve a consolidated return on equity of at least 13 per cent excluding Russia and excluding provisions and legal cost for foreign currency loans in Poland and excluding Rasperia litigation cost.

*In a ‘P/B Zero‘ Russia deconsolidation scenario.
 

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