Raiffeisen Shares Climb After 4Q Beat Views
02 Février 2022 - 10:05AM
Dow Jones News
By Cristina Roca
Shares in Raiffeisen Bank International AG traded higher
Wednesday after the Austrian lender reported a rise in
fourth-quarter earnings and said it expects core revenue and loans
to grow this year.
Raiffeisen shares rose sharply at the open and at 0829 GMT
traded 5.7% higher at EUR26.76.
The Vienna-based bank reported a net profit of 317 million euros
($357.3 million), beating analyst expectations of EUR255
million.
Operating income was EUR1.62 billion, up 35% on year and ahead
of analyst views of EUR1.5 billion, led by sharp increases in net
interest income--a key metric for retail banks--and fees and
commissions.
For 2022, Raiffeisen expects NII to grow by a high-single-digit
percentage. Net fee and commission income should post
mid-single-digit percentage growth, and loans should grow by 7%-9%
in the year, Raiffeisen said.
The bank increased its dividend to EUR1.15 from EUR0.48.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
February 02, 2022 03:50 ET (08:50 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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