“We have been successfully working on the realization of our transformation program also in the first half of 2016. This can be seen in our equity ratios, which we have increased significantly since the beginning of the year. The improvement of our capital base remains the top priority,” explained Karl Sevelda, CEO of Raiffeisen Bank International AG (RBI).
“The so-called ‘New Normal’ with stricter capital requirements, a high degree of regulatory involvement and the ongoing ultra-low interest rate environment amidst a still shaky economy in Russia and Ukraine were clearly a burden on profitability in CEE banking.
In the first quarter of 2016 the Raiffeisen Bank International AG Group (RBI) generated a profit before tax of € 229 million, which represents a year-on-year increase of 22 per cent. The profit after tax increased 38 per cent to € 138 million year-on-year, while the consolidated profit increased 37 per cent to € 114 million.