EQS-News: RBI: Semi-Annual Financial Report 2024 - Stable performance in the core business

Stable performance in the core business
 

H1/2024 consolidated profit of EUR 604 million, excluding Russia and Belarus and including
EUR 391 million provisions for CHF and EUR mortgage loans in Poland Core revenues excluding Russia and Belarus stable at EUR 1,523 million quarter-over-quarter, slight margin-driven decrease in net interest income compensated by improved net fee and commission income Uptick in provisioning for impairment losses in Q2/2024 to EUR 78 million for the Group excluding Russia and Belarus CET1 ratio excluding Russia stable at 14.7% (Group CET1 ratio at 17.8%) Russia: Significant de-risking accelerates – customer loans down almost 60% since peak in Q2/2022 to EUR 5.8 billion, broad restrictions on payments out of Russia as well as measures taken to further reduce customer deposits ROE guidance for 2024 confirmed at 10%, excluding Russia and Belarus

Income Statement in EUR million 1-6/2024 1-6/2023 Q2/2024 Q1/2024 Net interest income 2,895 2,749 1,440 1,455 Net fee and commission income 1,391 1,698 722 669 Net trading income and fair value result 59 116 42 17 General administrative expenses (1,924) (1,995) (986) (938) Operating result 2,535 2,661 1,271 1,263 Other result (407) (450) (260) (147) Governmental measures and compulsory contributions (161) (237) (21) (140) Impairment losses on financial assets (48) (259) (23) (25) Profit/loss before tax 1,919 1,715 967 952 Profit/loss after tax 1,436 1,327 715 721 Consolidated profit 1,324 1,235 661 664   Financial statement  in EUR million 30/6/2024 31/12/2023 Loans to customers 101,920 99,434 Deposits from customers 125,333 119,353 Total assets 209,963 198,241 Total risk-weighted assets (RWA) 98,453 93,664   Bank-specific information 30/6/2024 31/12/2023 NPE Ratio 1.8% 1.9% NPE Coverage Ratio 53.3% 51.7% CET1 ratio transitional (incl. profit) 17.8% 17.3% Total capital ratio transitional (incl. profit) 21.9% 21.5%   Key ratios 1-6/2024 1-6/2023 Q2/2024 Q1/2024 Net interest margin (Ø interest-bearing assets) 2.94% 2.74% 2.92% 2.98% Cost/Income Ratio 42.7% 42.4% 43.2% 42.2% Provisioning ratio  (Ø loans to customers) 0.25% 0.37% 0.27% 0.22% Consolidated return on equity 15.0% 14.9% 15.1% 15.0% Earnings per share in EUR 3.87 3.59 1.93 1.94

Outlook
The following guidance refers to RBI excluding Russia and Belarus. The 2024 guidance for RBI including Russia and Belarus has been suspended in light of the accelerated business reduction in Russia. Outlook 2024 RBI excl. RU/BY Net interest income in EUR around 4.1 bn Net fee and commission income in EUR around 1.8 bn Loans to customers (growth) 4 to 5% General administrative expenses in EUR around 3.3 bn Cost/income ratio around 52% Provisioning ratio (before use of overlays) around 35 bps Consolidated return on equity around 10% CET1 ratio around 14.7%* *’P/B Zero’ Russia deconsolidation scenario