Raiffeisen Bank Issues 2021 Guidance, Medium-Term Profit Distribution Target
17 Mars 2021 - 8:38AM
Dow Jones News
By Olivia Bugault
Raiffeisen Bank International AG issued guidance for 2021 that
includes a better return on equity and said it plans to distribute
up to half of its profit in the medium term.
The Austrian banking group expects loans to modestly grow in the
first half of 2021 and sees it accelerating during the last six
months of the year, it said Wednesday. Raiffeisen also expects its
consolidated return on equity to improve this year as it targets
11% in the medium term.
Furthermore, Raiffeisen confirmed its target of roughly 13% for
its CET1 ratio for the medium term.
"Based on this target we intend to distribute between 20% and
50% of consolidated profit," Raiffeisen said.
The bank also said it is still committed to a cost-income ratio
of roughly 55%, which could happen in 2022 or later depending on
the pace of recovery.
"The provisioning ratio for FY 2021 is expected to be around 75
basis points, as moratoria and government support programs expire,"
it said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
March 17, 2021 03:23 ET (07:23 GMT)
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