Raiffeisen Bank International Ag · VIE:RBI
Raiffeisen Bank International — FY 2024 Earnings Presentation
59 slides from Raiffeisen Bank International's earnings presentation, Feb 4, 2025
Slide 1: Preliminary FY 2024 Results
Raiffeisen Bank International Preliminary FY 2024 Results 4 February 2025 Raiffeisen Bank International | Member of RBI Group Confidential and proprietary Any use of this material without specific permission of Raiffeisen Bank International is strictly prohibited.
Slide 2: Disclaimer
Disclaimer Certain statements contained herein may be statements of future This presentation contains financial and non-financial information relating to investments falling within Article 19(5) of the Financial expectations and other forward-looking statements about Raiffeisen and statistical data
Slide 3: Business & Financial Update
01 Business & Financial Update 02 Risk Update 03 Appendix 4 February 2025
Slide 4: FY/2024 Executive Summary
FY/2024 Executive Summary RBI Consolidated profit Consolidated RoE CET1 ratio Group 1-12/2024 1-12/2024 31/12/2024, transitional, incl. results EUR 1,157 mn 9.4% 17.1% -52% y-o-y -5.4 pp y-o-y -0.2 pp y-o-y excluding OCI recycling from Belarus deconsolidation Adjusted Consolidated profit Consolidate
Slide 5: FY/2024 Executive Summary
FY/2024 Executive Summary RBI Loans to customers Core revenues Opex and Cost/Income Ratio Group 31/12/2024 1-12/2024, in EUR mn 1-12/2024 5,779 EUR 99,551 mn 2,638 EUR 3,786 mn 43.0% +0% y-o-y +3% -9% y-o-y -1% y-o-y +0 pp Net interest Net fee & income commission income Adjusted Loans to customers C
Slide 6: Strong Operating Core Group
Strong Operating Core Group Improvement in the Core Group has compensated for pre-war Russian and Belarus contributions Adjusted Core Group RBI Group excluding Russia / Belarus including Russia / Belarus 6,187 6,243 Operating income in EUR mn 5,544 5,570 5,592 5,073 2,801 3,066 2,933 Operating resul
Slide 7: Update
Update Dividend proposal of EUR 1.10 for FY/2024 The board will recommend a dividend of EUR 1.10 per share for the business year 2024 – to be voted on at the upcoming AGM (26 March 2025) Sale of Belarus completed +4 basis point impact on CET1 ratio excluding Russia (P/B Zero) Court proceedings in Ru
Slide 8: De-risking in Russia
De-risking in Russia Significant business reduction since 2022 Substantial de-risking achievements in FY/2024 27.1 1 Loan book reduction ahead of Loans to customers vs. RWA schedule: -30% FY/2023 in Russia under IFRS 16.3 17.0 17.0 14.3 14.0 2 Deposits from customers: Deposits from in EUR bn -35% cu
Slide 9: Q4/2024 Core Revenue Trends
Q4/2024 Core Revenue Trends Net interest income in EUR mn NII stable across most markets, increase in Q4 1,473 1,511 1,358 1,343 1,422 1,428 1,410 1,430 from minor seasonal effects in Austria and Group Czech Republic Core 980 1,020 1,082 1,092 1,060 1,033 1,019 1,042 Net interest margin excluding Ru
Slide 10: Loans and Deposits to/from Customers in Q4/2024
Loans and Deposits to/from Customers in Q4/2024 Loans to customers Deposits from customers in EUR bn in EUR bn - 1% - 2% q-o-q q-o-q Group 101.9 Group 125.3 100.4 100.1 99.6 119.4 120.9 120.3 117.7 99.4 Core Core Excluding 95.3 94.9 95.4 Excluding 108.8 107.4 108.2 Russia/ Belarus 92.8 93.8 Russia/
Slide 11: High Liquidity Across the Group
High Liquidity Across the Group RBI Group - Liquidity ratios RBI head office: conservative liquidity profile 210% 192% LCR 196% 182% 183% LCR at 176% (as of 29 January 2025) 143% 147% 146% 145% 145% NSFR Head office with sufficient liquidity to cover all deposits and maturing funding for over one Lo
Slide 12: CET1 Ratio Development
CET1 Ratio Development - -67 bps q-o-q 17.8% + - - - - 17.1% - + incl. -88 bps effect of provisions in Russia -8 bps +39 bps -34 bps -10 bps -15 bps -48 bps +9 bps Credit risk Other credit Operational & OCI, Retained FX Belarus Core Group risk Market risk valuation & other earnings deconsolidation e
Slide 13: P/B Zero Deconsolidation Scenario in Russia
P/B Zero Deconsolidation Scenario in Russia Capital stack under P/B Zero deconsolidation scenario 15.1% Expected around 15.2% at year-end 2025 2.98% T2 Assumptions: 2.70% With Russia deconsolidated EUR 4.5 bn IFRS equity partially at P/B Zero, AT1 and T2 CET1 offset by deduction 2.32% AT 1 2.02% buc
Slide 14: Core Group CET1 Outlook 2025
Core Group CET1 Outlook 2025 15.1% Core Group CET1 ratio expected around 15.2 per cent at ~15.2% year-end 2025 Expected CET1 drivers in 2025: Any decision on dividends will be based on the capital position of the Group Retained + ~105 bps Net of expected 2025 excluding Russia earnings dividend accru
Slide 15: Capital Ratios and SREP
Capital Ratios and SREP RBI, transitional, pro forma as of 31/12/2024 Current regulatory 21.5% P2R 1.57% to be met with CET1 requirements 2.79% 19.0% 52 bps eligible for AT1 17.1% 16.67% 70 bps eligible for T2 Tier 2 13.97% 2.70% (incl. P2R) 11.95% 2.02% AT 1 P2G To be solely covered by CET1 but (in
Slide 16: MREL and Funding Plan
MREL and Funding Plan Austria resolution group MREL Including profit Funding plan 31/12/2024 Successfully issued EUR 500 mn Tier 2 note (October 2024) and EUR 650 mn AT1 42.39% note (November 2024), each combined with liability management exercises Actual Requirement At least two senior benchmarks i
Slide 17: Macro Outlook
Macro Outlook 2025 expected to bring further muted recovery driven by GDP (real, % yoy) 2023 2024e 2025f 2026f Czech Republic 0.0 0.9 2.1 2.4 rising consumer demand and an increase of investments in Hungary -0.7 0.6 2.5 3.0 most countries. Poland 0.1 2.9 3.5 3.4 Investments boosted by EU funds are s
Slide 18: Inflation and Key Rates Forecast
Inflation and Key Rates Forecast Inflation & rates Inflation rate (CPI) Most CE/SEE countries expected to face inflation stabilising at CZ 2.5% 2.2% 4.8 % (average, % y-o-y) still elevated levels (vs. pre-pandemic) due to services inflation 2.6% 2025f 2026f remaining high, upside risks in other cate
Slide 19: 2025 Core Group Guidance
2025 Core Group Guidance (excl. Russia) Income Statement around EUR 4.15 bn around EUR 1.95 bn around EUR 3.45 bn around 52.5% up to 50 bps Net interest Net fee and OPEX CIR Risk cost excluding income commission income potential use of overlays Profitability & Balance around 10% 6% to 7% around 15.2
Slide 20: Risk Update
01 Business & Financial Update 02 Risk Update 03 Appendix 4 February 2025
Slide 21: Risk Overview
Risk Overview Risk cost NPE ratio/ coverage ratio Stock of risk overlays excluding Russia / Belarus, FY/2024 excluding Russia / Belarus, 31/12/2024 31/12/2024 Provisioning ratio Risk cost1 729 765 27 bps EUR 287 mn 2.1% 50.4% 364 342 467 Russia & Belarus +1 bp y-o-y +15 bps y-o-y +68 bps 97 GC&M, CE
Slide 22: IFRS 9 Provisioning
IFRS 9 Provisioning Core Group – Q4/2024 Overall EUR 130 mn of IFRS 9 provisions in Q4 excluding Russia / Belarus EUR EUR 196 mn 130 mn Stage 1 & 2: mainly driven by exposure change in Ukraine and rating downgrades in + head office + EUR Macro update: release driven by slightly -3 mn improved outloo
Slide 23: Q4/2024 RWA Development
Q4/2024 RWA Development Core Group excl. Russia & Belarus 77.2 78.3 Market risk 4.0 3.7 Operational 14.5 Credit risk Inorganic 16.2 risk Core Group Credit risk 58.8 58.4 Credit risk Op risk Market risk FX RWA in EUR bn 30/09/2024 31/12/2024 RBI Group Credit RWAs reduction in Core Group mainly driven
Slide 24: Poland FX Mortgage Update
Poland FX Mortgage Update Number of FX loans in Poland Poland FX mortgage exposure and stock of provisions in thousand, 31/12/2024 55.1 CHF loans EUR loans CHF loans 8.7 Exposure EUR 1,612 mn Exposure EUR 395 mn 18.1 EUR loans 10.0 Stock of Stock of 9.3 provisions for litigation: provisions for liti
Slide 25: NPE Ratio and NPE Coverage
NPE Ratio and NPE Coverage Central Europe 100.0% 59.0% 58.6% 58.8% 56.7% 805 CE Asset quality development q-o-q 0.1% 1.2% 1.2% 1.3% 0.0% 1.2% 1.0% CE – development driven by new NPE in Hungary 100.0% Southeastern 66.0% 67.2% 64.5% 66.2% 620 Europe -2.8% SEE – improvement mainly from recovery and SEE
Slide 26: Appendix
01 Business & Financial Update 02 Risk Update 03 Appendix 4 February 2025
Slide 27: Geographic Footprint
Geographic Footprint Leading regional player with CEE presence of over 30 years Central Europe (CE) servicing approx. 18 million customers Southeastern Europe (SEE) Russia, #16 Covering Austria and 11 CEE markets, of which five are EU Ukraine ▪ Loans: EUR 4.2 bn members. Four countries have candidat
Slide 28: Raiffeisen Banking Group Structure
Raiffeisen Banking Group Structure Raiffeisen Banking Group (RBG) – largest banking group in Austria with total assets of EUR 400 bn as of 31/12/2023 Solid funding profile of RBG based on a domestic market share of around 34% of total customer deposits, not least due to superior brand recognition Th
Slide 29: RBI Group Q4/2024 Income Statement and KPIs
Q4/2024 Income Statement and KPIs (in EUR mn) Q4/2024 % q-o-q % y-o-y Net interest margin Net interest income 1,511 +6% +3% Q4/2024 Net fee and commission income 668 +3% +4% Net trading income & fair value result 36 +12% - 3.13% Other operating components1 -9 -113% - +19 bps q-o-q Operating income 2
Slide 30: RBI Core Group – excl. Russia and Belarus
Adjusted excluding Q4/2024 Income Statement and KPIs Russia / Belarus (in EUR mn) Q4/2024 % q-o-q % y-o-y Net interest income 1,042 +2% -5% Net interest margin Q4/2024 Net fee and commission income 497 +9% +8% Net trading income & fair value result 41 >500% - 2.32% Other operating components1 -11 -1
Slide 31: Total Exposure
Total Exposure Total exposure by segments – Q4/2024 … by sector – Q4/2024 in EUR bn, % q-o-q in EUR bn Mortgages 28 Consumer & Other Loans 21 Retail 20% GC&M -3.6% 241 bn 67 Sovereigns & supranationals 98.5 EUR Financial institutions 29 Sov. & FI 40% Industrials 24 -1.7% q-o-q Materials 9 Corporate
Slide 32: Q4/2024 Segments Overview
Q4/2024 Segments Overview Core revenues Loans to customers / NIM Provisioning ratio Profit/loss after tax Q4/24 q-o-q Q1/24 Q2/24 Q3/24 Q4/24 Q4/24 q-o-q Q4/24 q-o-q 583 37,158 37,555 37,660 37,836 CE Net Fees 172 +11% 5.00% 31 bps EUR 79 mn 30,000 2.47% 2.57% +39 bps -37% NII 412 +4% 2.52% 2.44% 20
Slide 33: Raiffeisen Capital Management
Raiffeisen Capital Management One of the leading asset managers in Central Europe, AUM 43% a 100% owned subsidiary of RBI celebrating 40 years ESG anniversary in 2025 since foundation 72% 28% Raiffeisen Capital Management is the leading asset management company in Austria. The aim is to EUR 64 bn Bu
Slide 34: Corporate Center/Reconciliation
Corporate Center/Reconciliation In EUR mn 1-12/2024 1-12/2023 y-o-y In EUR mn 1-12/2024 1-12/2023 y-o-y Operating income 1,120 748 49.9% Operating income (1,317) (934) 41.1% General admin. expenses (497) (483) 3.0% General admin. expenses 228 201 13.4% Operating result 623 265 135.3% Operating resul
Slide 35: Equity Overview
Equity Overview Cumulative other Non- Subscribed Capital Retained comprehensive Consolidated controlling Additional Total In EUR mn capital reserves earnings income equity interests tier 1 Equity Equity as at 1/1/2024 1,002 4,988 15,600 (4,580) 17,009 1,231 1,610 19,849 Capital increases 0 0 0 0 0 (
Slide 36: Regulatory Capital Structure - Overview
Regulatory Capital Structure - Overview in EUR mn 31/12/2024 30/9/2024 30/6/2024 Common equity tier 1 (before deductions) 17,107 17,502 18,252 Deduction items (763) (848) (775) Common equity tier 1 (after deductions) 16,344 16,654 17,477 Additional tier 1 (after deductions) 1,844 1,689 1,688 Tier 1
Slide 37: Maturity Profile
Maturity Profile Maturity Profile at 31/12/2024 (in EUR mn) 3,581 12 2,418 2,457 15 2,222 2,176 315 71 150 191 1,834 3,539 2,402 2,150 1,030 2,026 867 1,951 12 1,824 522 520 1,023 855 500 520 47 7 22 0 10 0 0 0 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 >2035 Senior placements Subordinat
Slide 38: AT1 and Subordinated Instruments
AT1 and Subordinated Instruments Regulatory Capital Initial Nominal Issuer ISIN Reset Coupon Issuance date First Call Date Call period Maturity Treatment 1 Recognition Coupon outstanding Raiffeisen Bank 5Y EUR ms Additional Tier 1 100% XS1756703275 4.500% EUR 500 mn 24 Jan 2018 15 Jun 2025 Semi-annu
Slide 39: The Institutional Protection Scheme (IPS)
The Institutional Protection Scheme (IPS) 1 RBI AG and its Austrian subsidiaries are members of the Raiffeisen IPS The IPS supports members if needed to ensure solvency and liquidity 2 IPS serves as capital cushion and source of liquidity to its members. Uniform and joint monitoring ensures the earl
Slide 40: Bank Levies
Bank Levies Impact in EUR mn FY 2023 FY 2024 FY 2025e Austria Bank levy based on total assets (excluding derivatives) 0 23 ~21 Bank levy of 0.15% (for up to HUF 50 bn of total assets) and 0.21% (for tax base above HUF 50 bn); Hungary 91 63 ~55 special tax for banks based on the net profit modified b
Slide 41: NPE and NPL Distribution by Country
NPE and NPL Distribution by Country In EUR mn NPE Stock NPE Ratio NPE Ratio NPE Coverage Ratio NPE Coverage Ratio NPL Ratio NPL Ratio NPL Coverage Ratio NPL Coverage Ratio 31/12/2024 31/12/2024 31/12/2023 31/12/2024 31/12/2023 31/12/2024 31/12/2023 31/12/2024 31/12/2023 Czech Republic 276 0.9% 0.9%
Slide 42: RBI Group
RBI Group In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 1,511 1,430 5.6% 1,410 1,428 1,473 5,779 5,596 3.3% 5,596 Net fee and commission income 668 650 2.8% 680 639 644 2,638 2,906 (9.3%) 2,906 Net trading income and fair value result
Slide 43: RBI Core Group – excl. Russia and Belarus
RBI Core Group – excl. Russia and Belarus In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 1,042 1,019 2.2% 1,033 1,060 1,092 4,155 4,175 (0.5%) 4,175 Net fee and commission income 497 456 8.8% 461 431 459 1,845 1,757 5.0% 1,757 Net trad
Slide 44: Country Financials (CE) – Czech Republic
Country Financials (CE) – Czech Republic In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 169 151 11.9% 150 151 168 622 642 (3.1%) 642 Net fee and commission income 49 45 9.4% 45 41 47 179 183 (2.0%) 183 Net trading income and fair value
Slide 45: Country Financials (CE) – Hungary
Country Financials (CE) – Hungary In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 109 113 (3.9%) 117 133 143 472 525 (10.1%) 525 Net fee and commission income 66 58 15.3% 56 52 54 232 202 15.0% 202 Net trading income and fair value resu
Slide 46: Country Financials (CE) – Poland
Country Financials (CE) – Poland In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 7 9 (15.3%) 13 4 4 33 19 69.6% 19 Net fee and commission income 0 0 (29.0%) 0 0 0 1 0 58.5% 0 Net trading income and fair value result 0 0 138.0% 1 (0) 1 1
Slide 47: Country Financials (CE) – Slovakia
Country Financials (CE) – Slovakia In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 126 121 4.5% 116 116 111 480 404 18.6% 404 Net fee and commission income 56 53 6.5% 51 50 51 210 193 8.8% 193 Net trading income and fair value result 4
Slide 48: Country Financials (SEE) – Albania
Country Financials (SEE) – Albania In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 33 33 0.0% 33 31 32 131 114 14.9% 114 Net fee and commission income 7 8 (11.0%) 7 6 5 27 20 36.0% 20 Net trading income and fair value result 1 1 54.3% 1
Slide 49: Country Financials (SEE) – Bosnia & Herzegovina
Country Financials (SEE) – Bosnia & Herzegovina In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 22 21 6.3% 22 22 23 88 86 2.2% 86 Net fee and commission income 17 14 17.2% 15 13 14 60 54 11.2% 54 Net trading income and fair value result
Slide 50: Country Financials (SEE) – Croatia
Country Financials (SEE) – Croatia In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 47 48 (1.2%) 47 44 48 186 181 3.2% 181 Net fee and commission income 21 21 0.6% 19 19 19 79 73 8.1% 73 Net trading income and fair value result (1) 6 – (
Slide 51: Country Financials (SEE) – Kosovo
Country Financials (SEE) – Kosovo In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 17 18 (3.9%) 18 18 18 71 66 7.6% 66 Net fee and commission income 4 5 (18.6%) 4 3 4 17 17 (1.1%) 17 Net trading income and fair value result 0 0 216.5% 0
Slide 52: Country Financials (SEE) – Romania
Country Financials (SEE) – Romania In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 156 156 0.1% 154 153 149 619 579 6.9% 579 Net fee and commission income 59 52 13.5% 49 41 54 200 184 8.6% 184 Net trading income and fair value result 2
Slide 53: Country Financials (SEE) – Serbia
Country Financials (SEE) – Serbia In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 72 74 (2.7%) 75 74 73 295 270 9.2% 270 Net fee and commission income 33 31 3.9% 31 29 29 123 108 14.1% 108 Net trading income and fair value result 3 4 (1
Slide 54: Country Financials (EE) – Ukraine
Country Financials (EE) – Ukraine In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 96 95 1.1% 97 103 106 391 418 (6.5%) 418 Net fee and commission income 18 15 19.2% 17 17 23 67 84 (20.3%) 84 Net trading income and fair value result 7 2
Slide 55: Country Financials (EE) – Russia
Country Financials (EE) – Russia In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 467 411 13.8% 377 368 382 1,623 1,411 15.1% 1,411 Net fee and commission income 172 193 (11.0%) 220 208 186 793 1,152 (31.2%) 1,152 Net trading income and
Slide 56: Group Corporates & Markets
Group Corporates & Markets In EUR mn Q4/2024 Q3/2024 q-o-q Q2/2024 Q1/2024 Q4/2023 1-12/2024 1-12/2023 y-o-y 1-12/2023 Net interest income 207 201 3.3% 219 233 256 860 967 (11.1%) 967 Net fee and commission income 157 145 7.6% 140 147 150 589 578 1.9% 578 Net trading income and fair value result 19
Slide 57: Sustainability Ratings
Sustainability Ratings The Leading Sustainable Financial Institution in Austria & CEE RBI has been committed to the UN Global Compact, since 2010 and signed up to the UNEP FI Principles for Responsible Banking In January 2021. Since then, a comprehensive portfolio impact analysis was performed, and
Slide 58: Shareholder Information Overview
Shareholder Information Overview General information Shareholder structure1 Listed since 25 April 2005 on the Vienna Stock Exchange Prime Market Indices: ATX, ATX Prime, MSCI Standard Index Europe, EURO STOXX Banks Regional Raiffeisen Free float banks 328,939,621 ordinary shares issued ISIN: AT00006
Slide 59: Financial Calendar
Financial Calendar 25 February 2025 Annual Report 2024 Group Investor Relations 16 March 2025 Record Date Annual General Meeting 26 March 2025 Annual General Meeting Raiffeisen Bank 31 March 2025 Ex-Dividends Date International AG 01 April 2025 Record Date Dividends Am Stadtpark 9 02 April 2025 Divi
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