Raiffeisen Bank International

Raiffeisen Bank International is a universal bank focusing on corporate and retail customers in Central and Eastern Europe (CEE) and on corporate customers in Austria. In CEE, Co. consists of a network of banks, leasing companies and financial service providers. In Austria, Co. is involved in corporate finance and export and trade finance banks. Co. provides services to customers in 2,800 branch offices. In the retail banking business, Co.'s product and service portfolio comprises inter alia credit services (mortgages, credit cards and personal loans), as well as payment transaction and current account package services. As of Dec 31 2014, Co.'s total assets amounted to Euro121.6 million
  • TickerRBI
  • ISINAT0000606306
  • ExchangeVienna Stock Exchange
  • SectorBanks
  • CountryAustria

Analysts

Derya Guzel

Morningstar | Raiffeisen Reports Full-Year 2018 Results, Voiced Confidence in Its Compliance Processes

Raiffeisen Bank reported full-year results for 2018 of EUR 1.4 billion compared with EUR 1.2 billion last year, as income generation more than offset slightly higher expenses. Both net interest income and net fee and commission income increased 4.2% year over year, driven by higher loans to customers, up 4%, for the former and higher loan and guarantee as well as payment transfer business for the latter. Historically low impairment losses of 21 basis points formed a tailwind last year, but management expects this to pick up to 45 basis points in 2019. Based on this outlook, we tweaked our prov...

Research Team

Focus: EME Macro/Strategy – Brexit – as disorderly as it gets; PZU posts solid set of 4Q18 results, slightly ahead of expectations; Jumbo’s 1H18/19 results – resilient margin, strong operating performance; PGE’s 4Q18 results

HEADLINES: • EME Macro/Strategy: Brexit - as disorderly as it gets • PZU: posts solid set of 4Q18 results, slightly ahead of expectations POSITIVE • Jumbo: 1H18/19 results - resilient margin, strong operating performance • PGE: 4Q18 results in line with preliminary numbers, 2019E guidance remains unchanged NEUTRAL • Energa: 4Q18E supply preliminary EBITDA revised down NEUTRAL • Raiffeisen Int.: 2019E guidance sets a good tone NEUTRAL • Globalworth: EGM to vote on the equity raising, scheduled for 29 March POSITIVE • Norilsk Nickel: Roman Abramovich sells 1.7% of the company NEUTRAL • Rostel...

Derya Guzel

Morningstar | All Aboard the Money Laundering Train; New Reports Implicate More European Banks

Over the past days a consortium of investigative newspapers, online portals, and television programs revealed a web of money laundering activities flowing through the European banking system, which lay bare a different scale and urgency of the problem of anti-money laundering controls within most banks as well as regulators than previously acknowledged. Of the banks named thus far to be involved we cover Danske, Nordea, Swedbank, Raiffeisen, Erste, RBS (acquired the unit in question from ABN in 2008), ING, and Deutsche Bank. While other Nordic banks as well as other banks in our coverage have ...

Raiffeisen Bank International AG: Raiffeisen Bank International's Additional Tier 1 issuance improves loss-absorption buffers

The successful placement will improve the bank’s AT1 capital buffer to €1.15 billion from just under €650 million as of September 2017.

Raiffeisen Bank International AG: Update following upgrade of deposit ratings to A3

FINANCIAL INSTITUTIONS CREDIT OPINION 10 November 2017 Update RATINGS Raiffeisen Bank International AG Domicile Vienna, Austria Long Term Debt A3 Type Senior Unsecured - Fgn Curr Outlook Stable Long Term Deposit A3 Type LT Bank Deposits - Fgn Curr Outlook Stable Please see the 

Raiffeisen Bank International AG: RBI's improved credit profile is positive for Austria's Raiffeisen sector

FINANCIAL INSTITUTIONS ISSUER IN-DEPTH 3 November 2017 RATINGS Raiffeisen Bank International AG Deposits / Senior Unsecured A3 / A3 BCA / Adjusted BCA ba1 / baa3 Subordinate Baa3 Pref. Stock non-cumulative Ba3(hyb) Issuer Outlook Stable Source: Moody's Investors Service KEY METRICS: Raiffeisen Bank International AG 2015 2016 2Q 2017 Problem loans / Gross loans

Raiffeisen Bank International AG: RBI's improved credit profile is positive for Austria's Raiffeisen sector

FINANCIAL INSTITUTIONS ISSUER IN-DEPTH 3 November 2017 RATINGS Raiffeisen Bank International AG Deposits / Senior Unsecured A3 / A3 BCA / Adjusted BCA ba1 / baa3 Subordinate Baa3 Pref. Stock non-cumulative Ba3(hyb) Issuer Outlook Stable Source: Moody's Investors Service KEY METRICS: Raiffeisen Bank International AG 2015 2016 2Q 2017 Problem loans / Gross loans

Raiffeisen Bank International AG: Semiannual update

FINANCIAL INSTITUTIONS CREDIT OPINION 22 September 2017 Update RATINGS Raiffeisen Bank International AG Domicile Vienna, Austria Long Term Debt Baa1 Type Senior Unsecured - Fgn Curr Outlook Stable Long Term Deposit Baa1 Type LT Bank Deposits - Fgn Curr Outlook Stable Please see the 

Derya Guzel

Morningstar | Raiffeisen Reports Full-Year 2018 Results, Voiced Confidence in Its Compliance Processes

Raiffeisen Bank reported full-year results for 2018 of EUR 1.4 billion compared with EUR 1.2 billion last year, as income generation more than offset slightly higher expenses. Both net interest income and net fee and commission income increased 4.2% year over year, driven by higher loans to customers, up 4%, for the former and higher loan and guarantee as well as payment transfer business for the latter. Historically low impairment losses of 21 basis points formed a tailwind last year, but management expects this to pick up to 45 basis points in 2019. Based on this outlook, we tweaked our prov...

Derya Guzel

Morningstar | All Aboard the Money Laundering Train; New Reports Implicate More European Banks

Over the past days a consortium of investigative newspapers, online portals, and television programs revealed a web of money laundering activities flowing through the European banking system, which lay bare a different scale and urgency of the problem of anti-money laundering controls within most banks as well as regulators than previously acknowledged. Of the banks named thus far to be involved we cover Danske, Nordea, Swedbank, Raiffeisen, Erste, RBS (acquired the unit in question from ABN in 2008), ING, and Deutsche Bank. While other Nordic banks as well as other banks in our coverage have ...

Derya Guzel

All Aboard the Money Laundering Train; New Reports Implicate More European Banks

Over the past days a consortium of investigative newspapers, online portals, and television programs revealed a web of money laundering activities flowing through the European banking system, which lay bare a different scale and urgency of the problem of anti-money laundering controls within most banks as well as regulators than previously acknowledged. Of the banks named thus far to be involved we cover Danske, Nordea, Swedbank, Raiffeisen, Erste, RBS (acquired the unit in question from ABN in ...

Research Team

The Rear-View Mirror – EME markets: ASE rallied in February

EME Equity Market – February 2019 Market performance – ASE Index up 11.5% mom in February. The ASE index outperformed its rivals in February, rising by 11.5%, following a mom gain of 3.5% in January. Bucharest was the second-best performer, up 10.2% in February, while Prague’s PX recorded a mom gain of 3.2%. The MSCI EME was in correction mode in February, losing 1.6% mom, following January’s double-digit growth of 11.3% mom; while the MOEX and BUX both lost 1.3% mom in February; and the Turkish ISE30 was down 2.1% mom. Last but not least, the worst performer was the WIG20, which recorded a lo...

Research Team

The Rear-View Mirror: EME Markets – Only Bucharest’s BET in the red in January

EME Equity Market – January 2019 Market performance – only Bucharest in negative territory in January. In January, the Turkish ISE was the best performer (+17%); while the Russian MOEX was second (+12.8%); and the MSCI EME recorded double-digit growth of 11.3%; followed by Budapest, with the BUX up 6.1%; and Prague’s PX +5.7%, just above the WIG20, which gained 5.6% mom. The Greek ASE also saw a gain (+3.5%), while Bucharest’s BET was the only one in the red, falling by 7.5% mom.

1 director bought

A director at Raiffeisen Bank International Ag bought 10,000 shares at 26.999EUR and the significance rating of the trade was 78/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. ...

Research Team

Focus: EME Macro/Strategy – Brexit – as disorderly as it gets; PZU posts solid set of 4Q18 results, slightly ahead of expectations; Jumbo’s 1H18/19 results – resilient margin, strong operating performance; PGE’s 4Q18 results

HEADLINES: • EME Macro/Strategy: Brexit - as disorderly as it gets • PZU: posts solid set of 4Q18 results, slightly ahead of expectations POSITIVE • Jumbo: 1H18/19 results - resilient margin, strong operating performance • PGE: 4Q18 results in line with preliminary numbers, 2019E guidance remains unchanged NEUTRAL • Energa: 4Q18E supply preliminary EBITDA revised down NEUTRAL • Raiffeisen Int.: 2019E guidance sets a good tone NEUTRAL • Globalworth: EGM to vote on the equity raising, scheduled for 29 March POSITIVE • Norilsk Nickel: Roman Abramovich sells 1.7% of the company NEUTRAL • Rostel...

Research Team

WOOD Morning (6 February)

HEADLINES: • MLP Care: robust even in a recession (stays BUY) • MONETA Money Bank: posts strong 4Q18, strong guidance and raises dividends guidance POSITIVE • Rosneft: 4Q18 - earnings suppressed by more write-downs, but FCF & leverage reduction still on track • Raiffeisen Int.: posts mediocre preliminary 4Q18 net profit, with some negative one-offs NEGATIVE • CME: 4Q18 results review - OIBDA up 19% yoy, in line with guidance and our estimates NEUTRAL • OMV: 4Q18 results and EUR 1.75 DPS proposal • OMV Petrom: 4Q18 results and an 8% dividend yield • Lotos: 4Q18 preliminary estimates, bette...

Research Team

WOOD Morning (30 January)

HEADLINES: • Romanian banks: it happened one night (Banca Transilvania and BRD downgraded to HOLD) • Romania politics: parliamentary structure and ALDE comments • Santander Bank Polska: posts neutral set of underlying results for 4Q18 • Bucharest Stock Exchange: shareholders approve creation of central counterparty • AmRest: 4Q18 preliminary sales up 23% yoy NEUTRAL • O2 Czech Republic: takeaways from 4Q18 conference call NEUTRAL • KGHM: tremor at Rudna mine NEGATIVE • Raiffeisen Int.: 4Q18E results preview (preliminary data due on 6 February) • Erste Bank: 4Q18E results preview (due on 2...

Research Team

WOOD Morning (16 January)

HEADLINES: • EME macro/strategy: Brexit update • Erste Bank/Raiffeisen Int.: Romanian tax could lead to business cutback NEGATIVE • Polish banks: neutral dividend recommendation from PFSA NEUTRAL • Jumbo: 1H18/19 sales up 7.6% yoy, broadly in line with our estimates • Titan Cement: 4Q performance update in line • Benefit Systems: buys 47.5% stake in Benefit Partners POSITIVE • Turkcell: fined TRY 91m by Competition Board NEUTRAL • Richter: Health Canada imposes restrictions on Esmya NEUTRAL • DIGI Communications: conclusion of the anti-corruption investigation • Rostelecom: may buy DataLi...

Research Team

WOOD Morning (19 December)

HEADLINES: • Sarantis: From Greece with Love (stays BUY - transfer of coverage) • Romania macro: budget woes starting • Romanian banks: bank tax proposal NEGATIVE • Erste Bank/RBI: could be hit visibly by Romanian tax burden proposals NEGATIVE • OTE: potential impact of Romanian telecoms fee hike NEGATIVE • Romanian energy/telecoms/utilities: impact of the proposed fiscal measures on various sectors • Polish gencos: regulator delays the retail tariff hike, asks for more information NEGATIVE • ING BSK: aiming to buy a 45% stake in NN TFI NEUTRAL • Atrium: Fitch upgrades rating to BBB (from B...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Rabobank to issue the first Dutch non-preferred

Rabobank (RABOBK) has indicated its intentions to issue a non-preferred senior unsecured bond with a 5yr maturity according to various press sources. The IPTs for the Rabodeal are set at MS +low 70s. The bond is expected to be rated A3/A-/AA- and will thus be better rated than the outstanding French comparables. The bond is expected to be launched in the near future subject to market conditions. (For full story, download report)

ING
Suvi Platerink Kosonen

Raiffeisen Bank International/Green RBI with a decent pickup vs German peers

Raiffeisen Bank International[de] is an Austrian bank with the bulk of its earnings generated in Eastern European countries. The bank's CET1 ratio in 1H18 was 12.8% and the total capital ratio protecting senior debtholders 17.8%. RBI is rated A3/BBB+. The bank issued its inaugural green bond in July and the bond has performed well since its launch. In our view, RBIAV0.25 7/21 offers decent pickup versus German green non-preferred senior comparables.

Raiffeisen International Bank Hol – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Rapport 21/06/2018

Item 4: Since there is no vote on Management Board members' remuneration in Austria, we take this opportunity to voice our concerns regarding the remuneration system currently in place at Raiffeisen Bank International AG which we consider has several shortcomings: The targets for the short-term incentive (STI) have not been adequately disclosed. Likewise, there is no disclosure provided on maximum amounts. Since financial year 2014, there is no long-term incentive (LTI) in place. Benefits in kind and pension provisions are not disclosed separately but included in the fixed and other remunerati...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch