Raiffeisen Bank reports €156 million profit in Q3 2024, stable core revenues

Raiffeisen Bank International reported a consolidated profit of €156 million for the first nine months of 2024, excluding operations in Russia and Belarus. The return on equity (ROE) stands at 8.6%, with a CET1 ratio of 15.3% under worst-case scenarios in Russia. Loan growth was flat in the third quarter, with some increases in specific networks. Core revenues remained stable, though net interest income decreased slightly. Operating expenses rose by 6% compared to the same period in 2023. The bank's cost/income ratio is just under 51%. The management noted that fee income has held steady despite slow lending activity. Further details on the bank's performance in Russia were also discussed.