However, the RBI reported only 856 million euros for the consolidated result adjusted for Belarus and Russia, the RBI announced in a statement on Tuesday evening. However, the result includes provisions for 493 million euros in franc and euro mortgage loans in Poland.
Core revenues excluding Russia and Belarus fell slightly quarter-on-quarter to 1.481 billion euros. The common equity Tier 1 capital ratio excluding Russia rose to 15.3 percent and remained unchanged at 17.8 percent for the entire group.
Risk reduced in Russia
The RBI has already significantly reduced the risk in Russia: customer loans were reduced by 23 percent quarter-on-quarter. The bank recorded a 26 percent decline in deposits in checking accounts quarter-on-quarter.
With the two markets, the bank achieved net interest income of 4.355 billion euros in the nine months to the end of September, almost 4 percent more than in the same period last year. Net commission income fell by around 12 percent to 2.077 billion euros. And the operating result was a good 5 percent weaker. When it comes to the share of non-performing loans, i.e. bad loans, the RBI comes to 2 percent.
The bank expects the return on equity (ROE) for the year as a whole, excluding Belarus and Russia, to be 7.5 percent. At the half-year mark, the RBI was still expecting around 10 percent. The outlook for net interest income has not changed. In 2024 it is expected to be around 4.1 billion euros and net commission income around 1.8 billion euros. As previously forecast, demands on customers should grow by 4 to 5 percent. But even with the cost/income ratio of around 52 percent, the RBI is sticking to its previous expectations.
