Raiffeisen Bank International said it now expects lower lending growth and higher forecasts for the year, and that it continues to evaluate strategic options for its operations in Russia, where it has largely suspended operations.
In the first quarter, the Austrian bank’s net profit increased to 442 million euros from 216 million euros.
Net interest income increased to 986 million euros from 736 million euros.
Loans rose 1% in the quarter, while new lending in Russia has largely stopped.
The bank stressed that it now expects stable lending volumes in 2022, compared to a previous estimate of 7% -9% increase.
Raiffeisen now expects the forecast for the year to be higher, up to 100 basis points, compared to previous estimates for 40 basis points.
For 2022, the bank expects the capital adequacy ratio to recover, close to the 13% target.
It also expects a consolidated return on equity at 8% -10%, while previously it expected the index to be more than 11% for the year.
Source: Capital
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