Продолжая пользоваться сайтом, я соглашаюсь с условиями обработки файлов cookie
Raiffeisenbank earned RUR 18.9 bn in first half of 2021 according to IFRS results
August 3 2021
Raiffeisenbank announces financial results for 6M 2021. All indicators are presented in accordance with International Financial Reporting Standards (IFRS) and may differ from the Russian data in the financial report of Raiffeisen Bank International AG (RBI) due to the differences arising from the consolidation and conversion of indicators in Euro.
- The Bank’s net profit grew by 0.3% YoY and reached RUB 18.9 bn for 1H21.
- RoE was 22.2% for 1H21 and 23.6% for 2Q21.
- The Bank’s CIR, adjusted for reclassification of deposit insurance fee from operating expenses to interest expenses, was 39.2% for 1H21 and 37.5% for 2Q21.
- Gross total loans rose by 4.6% YoY driven by loans to middle enterprises (+12.8% YoY) and
non-mortgage retail loans (+11.5% YoY). - Retail current accounts increased by 26.3% YoY and 0.9% QoQ, while corporate current accounts increased by 24.0% YoY and 0.8% QoQ.
KEY FINANCIAL RESULTS
Income statement
The Bank’s net profit reached RUB 18.9 bn in the first half of the year (up 0.3% compared to 1H20). In the second quarter, the bank earned RUB 10.3 bn (+31.5% YoY and +20.0% QoQ). RoE after tax was 22.2% for 1H21 (up by 195 bps YoY) and 23.6% for 2Q20 (up by 728 bps YoY and up by 447 bps QoQ).
Net interest income was down by 1.7% YoY and reached RUB 28.6 bn in 1H21. In 2Q21, NII was RUB 14.7 bn, up by 0.6% YoY and up by 5.7% QoQ.
NIM was 4.6% in 1H21, down from 5.1% in 1H20. Adjusted for reclassification of deposit insurance fee from operating expenses to interest expenses, the NIM was 4.4% in 1H21, down from 4.9% in 1H20. In 2Q21, the NIM was 4.7% (4.5% if adjusted for reclassification of deposit insurance fee from operating expenses to interest expenses), up from 4.5% in 1Q21 (4.3% adjusted) mainly due to higher corporate loan yields.
Net fee and commission income rose by 15.1% YoY in 1H21. In 2Q21, fees grew by 23.5% YoY and 27.8% QoQ.
Trading result1 was RUB 2.8 bn for 1H21. In 2Q21, the trading result was RUB 1.8 bn.
Provision charge was R2.2 bn and R1.1 bn for 1H21 and 2Q21 respectively. COR was 0.5% for both 1H21 and 2Q21.
Operating expenses increased by 5.1% YoY in 1H21. CIR, adjusted for reclassification of deposit insurance fee from operating expenses to interest expenses, was 39.2% for the first 6 months of the year. In 2Q21, CIR was 37.5% (adjusted for deposit insurance fee).
Balance sheet
Total assets grew by 13.2% YoY and 1.7% QoQ.
Gross total loans increased by 4.6% YoY and 4.4% QoQ and reached R892 bn. The annual growth was supported by loans to middle enterprises (+12.8% YoY) and
Stage 3 + POCI ratio was 3.3% as of the end of 2Q21, up by 14 bps YoY and down by 28 bps QoQ.
Customer accounts grew by 16.4% YoY and 2.0% QoQ and amounted to RUB 1 161bn. Deposit growth was driven by retail current accounts (26.3% YoY and 0.9% QoQ) and corporate current accounts (24.0% YoY and 0.8% QoQ).
Net LDR ratio was 74.9% as of the end of 2Q21, down from 83.4% in 2Q20 and up from 73.1% in 1Q21.
Equity reached R166 bn, down by 15.4% YoY and by 9.7% QoQ due to the dividend payments.
Capital adequacy ratios of N1.1 and N1.22 as of July 1, 2021, amounted to 11.5% and 12.3%, respectively (with regulatory minimums of 8.0%* and 9.5%*). N1.0 ratio was 14.5% as of the same date (with a regulatory minimum of 11.5%*).
1 The following items are included in the trading result: gains less losses on trading securities; gains less losses on other securities at fair value through profit or loss; gains less losses on foreign exchange transactions; unrealized gains less losses/(losses less gains) from derivative financial instruments; realized gains less losses on derivative financial instruments; losses less gains on foreign currency revaluation; amortization of hedge adjustments and hedge inefficiencies; gains less losses from disposals of investment securities at fair value through other comprehensive income.
2 Basel III in accordance with the CBR methodology.
* — minimum regulatory capital adequacy requirements for systemically important credit institutions
Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank is one of the most reliable Russian banks, which creates financial solutions for private and corporate clients, residents and
Raiffeisen Bank International AG is the leading corporate and investment Bank in the financial markets of Austria and Central and Eastern Europe. In Central and Eastern Europe, Raiffeisen Bank International is represented in 13 markets and provides a wide range of financial services, including leasing, asset management and m&a support. More than 45,000 employees serve 17.7 mn customers in around 1,800 business outlets, most of which are located in Central and Eastern Europe. Raiffeisen Bank International shares are listed on the Vienna Stock Exchange.
Mobile application
for individuals
for calls from Moscow
for other regions of Russia
