On the occasion of the publication of its annual report 2012, Raiffeisen Bank International AG (RBI) yesterday confirmed the consolidated profit of EUR 725 M for the financial year 2012 (previously announced as preliminary figure), according to a press release. “While this result is a quarter below the figure reported for 2011, it once again places us well ahead of all the other banks in Austria. We achieved that in yet another year with a challenging economic environment and despite the significant increase in our core tier 1 ratio as well as the payment of a substantial bank levy,” said Herbert Stepic, CEO of RBI.
Profit before tax decreased by 24.9 per cent to EUR 1,032 M (2011: EUR 1,373 M), while profit after tax declined by 23.2 per cent to EUR 748 M (2011: EUR 974 M). Earnings per share decreased from EUR 3.95 for 2011 by EUR 1.25 to EUR 2.70. Net provisioning for impairment losses declined EUR 55 M to EUR 1,009 M in 2012. This decline was attributable to higher releases of portfolio-based loan loss provisions; individual loan loss provisions remained nearly flat year-on-year. Also, total assets declined 7 per cent or EUR 10.9 bln to EUR 136.1 bln year-on-year.