Start Time: 08:00 January 1, 0000 8:44 AM ET
Raiffeisen Bank International AG (OTCPK:RAIFF)
Q1 2025 Earnings Conference Call
May 06, 2025, 08:00 AM ET
Company Participants
Johann Strobl – CEO
Hannes Mosenbacher – Chief Risk Officer
Conference Call Participants
Johann Strobl
Good afternoon, ladies and gentlemen. Sorry for the delay. Thank you for taking the time out of your day to join us for our Q1 Update. We can report consolidated profit of €260 million in the quarter in the core of the group, excluding Russia for a return on equity of 7.3%. It is the case every year, we have booked a large portion, but not all of expected governmental measures and other contributions in the first quarter. Our CET1 ratio also excluding Russia, comes in at 15.9% with the implementation of the CRR3, some relief on operational risk and very modest loan growth. I will cover all of these in just a minute.
Looking at the main revenues. Net interest income was stable in the quarter, whereas fees were modestly weaker, as we usually see it in the first quarter. Compared to quarter one of last year, fees are up 8%. The cost income ratio has increased compared to Q1 last year, in part due to pressure on OpEx, but also due to some effects on the revenue side.
Income from associates was lower, although this effect is offset by a release of impairments in other results and is therefore neutral in the bottom line. And therefore, neutral trading income was lower due to tightening of our own credit spreads in the first quarter, but this has already partially reversed in April. Nevertheless, we remain committed to cost discipline, especially in head office, and we have kept our cost/income ratio target unchanged for 2025.
Let’s now move
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