(Reuters) -Austria’s Raiffeisen Bank International (RBI) has cut its return on equity (ROE) guidance for this year, excluding its Russian and Belarusian businesses, the lender said on Tuesday. It now expects a consolidated return on equity of around 7.5% in 2024, compared with the 10% forecast previously, as it booked 493 million euros ($533 […]
(Reuters) -Austria’s Raiffeisen Bank International (RBI) has cut its return on equity (ROE) guidance for this year, excluding its Russian and Belarusian businesses, the lender said on Tuesday.
It now expects a consolidated return on equity of around 7.5% in 2024, compared with the 10% forecast previously, as it booked 493 million euros ($533 million) of provisions for Swiss franc and euro mortgage loans in Poland.
RBI, the biggest Western bank still in Russia, previously suspended its guidance for the country and neighbouring Belarus as it tries to sell its businesses there under pressure from regulators .
In September, a Russian court froze RBI’s shares in local arm Raiffeisenbank, blocking it from leaving.
Net interest income including Russia and Belarus fell to 1.46 billion euros in July-September from 1.44 billion euros a year ago, reflecting muted business activity in the quarter, the bank said.
($1 = 0.9258 euros)
(Reporting by Andrey Sychev; Editing by Jon Boyle and Mark Potter)
