Raiffeisen Bank International (RBI) Q2 2025 earnings summary

Executive summary

• Consolidated profit for H1 2025 was EUR 148 million, down 89% year-over-year due to a EUR 1.2 billion derecognition related to Russia/Rasperia; adjusted profit (ex-Russia) was EUR 567 million, up 5% year-over-year.

• Consolidated ROE was 8.0%, down 7 percentage points year-over-year; excluding Russia, ROE was 8.1%.

• CET1 ratio at 18.2% (transitional, including results), up 1 percentage point year-to-date; excluding Russia, CET1 ratio was 15.7%.

• Dividend of EUR 1.10 per share for 2024 was distributed in April 2025.

• Total assets grew 1.8% since year-end to EUR 203.5 billion, with equity up 4.1% to EUR 21.2 billion.

Financial highlights

• Net interest income for H1 2025 was EUR 2,033 million, up 8% year-over-year; net fee and commission income was EUR 969 million, up 9%.

• Loans to customers reached EUR 102.2 billion, up 3% year-to-date; deposits from customers at EUR 121.4 billion, up 1% quarter-over-quarter.

• Cost/income ratio for the core group at 53.7%, mainly due to staff expenses; group cost/income ratio at 44.2% in Q2 2025.

• NPE ratio at 1.8% for the Group; NPE coverage ratio at 50.2%.

• Earnings per share for H1 2025 was EUR 0.28, down from EUR 3.87 in H1 2024.

Outlook and guidance

• Core Group CET1 ratio expected around 15.2% at year-end 2025, with retained earnings and RWA growth as key drivers.

• Net interest income guidance for 2025 (excl. Russia) is around EUR 4.15 billion; net fee and commission income around EUR 1.95 billion.

• Loan growth guidance for 2025 is 6%-7%, with corporate lending expected to accelerate in H2.

• Cost/income ratio for 2025 (excl. Russia) expected at around 52.5%; risk cost guidance at around 35 bps.

• Consolidated ROE guidance for 2025 is around 10%; core group mid-term ROE target is 13%.