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

A double requalification allows RAIFFEISEN BANK INTL.AG to improve to Slightly Positive

RAIFFEISEN BANK INTL.AG (AT), a company active in the Money Center Banks industry, has received a double requalification by the independent financial analyst theScreener. Its fundamental valuation is now 3 out of 4 stars while its market behaviour can be considered as moderately risky. theScreener believes that the gain of a star(s) and an improvement in the market risk perception allows upgrading the general evaluation to Slightly Positive. As of the analysis date September 10, 2019, the closing price was EUR 21.59 and its potential was estimated at EUR 24.19.

Research Team

Focus: upgrading S Immo to HOLD, with higher EUR 21.3 PT; Ciech’s 2Q19 adjusted EBITDA broadly in line with our and the market's expectations; CEZ – substandard parts in EDF nuclear fleet might trigger supply squeeze

HEADLINES: • S Immo: immediate threat removed, operations sound (upgraded to HOLD) • Ciech: 2Q19 adjusted EBITDA broadly in line with our and the market's expectations NEUTRAL • CEZ: substandard parts in EDF nuclear fleet might trigger supply squeeze POSITIVE • Polish retail: tax saga - Ministry of Finance expects suspension until 2021 • MedLife: acquires its first laboratory for pathological anatomy NEUTRAL • Polish telecoms: Poland will not specify 5G network suppliers in rules for auction NEUTRAL • Rostelecom: sells Central Telegraph space to O1 for RUB 3.5bn POSITIVE • Atrium: update fro...

Research Team

The Rear-View Mirror – EME markets: Soft performance across markets and sectors in August

EME Equity Market – August 2019 Market performance – pressure on all markets, only the BET flattish. The MSCI EME contracted by 4.9% mom in August, while the ASE index fell by 3.5% and Moscow’s index dropped by 3.8%. Bucharest’s BET index was the only one to rise, if only marginally, by 0.4% mom. The worst performer was Turkey’s ISE30, losing 10.8% mom, while the WIG20 index was down 8.3% mom, the BUX index dropped by 4.1% mom, and Prague’s PX index fell by 2.8% mom.

Research Team

The Rear-View Mirror – EME markets: Soft performance across markets and sectors in August

EME Equity Market – August 2019 Market performance – pressure on all markets, only the BET flattish. The MSCI EME contracted by 4.9% mom in August, while the ASE index fell by 3.5% and Moscow’s index dropped by 3.8%. Bucharest’s BET index was the only one to rise, if only marginally, by 0.4% mom. The worst performer was Turkey’s ISE30, losing 10.8% mom, while the WIG20 index was down 8.3% mom, the BUX index dropped by 4.1% mom, and Prague’s PX index fell by 2.8% mom.

Hai Thanh Le Phuong

Raiffeisen - Low Risk Cost, Fees Compensated For OPEX In Q2

Raiffeisen – Instant Earnings Comment Recommendation:  BUY (unch.) Target price (12M): EUR 30.0 (unch.)   Raiffeisen reported net income came to EUR 345 mln, beyond market estimates of EUR 306 mln and our forecast of EUR 328 mln. NII was up by 1.8% thanks to good volumes in Russia (+5.5% q-o-q), CEE (+1.9% q-o-q) and Head Office while margins slightly came down in the quarter due to lower margins in Russia and Head Office. Better results compared to our estimate comes from higher Net F&C, primarily due to seasonality and driven by Russia and Romania. Net trading income as the Company...

Research Team

The Rear-View Mirror – EME markets: Strong month for telecoms, up 11.5% overall in June

EME Equity Market – June 2019 Market performance – ISE30 index the best performer in June, gaining 6.7% in LCU. Other markets were generally stronger in June than in May, with the MSCI EME gaining 6.3% mom in local currency (vs. 0.9% mom in May). Turkey’s ISE30 index gained 6.7% mom, while the ASE increased by 4.6% mom. Bucharest’s BET and Moscow’s MOEX indices gained 3.8% mom each in June, while the Polish WIG20 increased by 3.9% mom. On the other hand, the Czech Republic PX fell 0.2% mom, while Hungary’s BUX dropped 1.5% mom. (All in local currencies.)

Research Team

The Rear-View Mirror – EME markets: Another strong month for ASE index, up 7.4% mom

EME Equity Market – May 2019 Market performance – ASE index the best performer, up 7.4% mom in May. In May, the MSCI EME improved by 0.9% mom. The ASE index rose by 7.4% in May, following a mom rise of 7.2% in April; while Moscow’s index gained 4.1%; and Bucharest’s BET index was up 0.6% mom. On the other hand, the worst performer was Turkey’s ISE30, down 4.8% mom; while the WIG20 index saw mom losses of 4.1%; the BUX index fell 3.8% in May; and Prague’s PX index dropped 2.3% mom.

1 director bought

A director at Raiffeisen Bank International Ag bought 2,500 shares at 20.099EUR and the significance rating of the trade was 55/100. 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: upgrading S Immo to HOLD, with higher EUR 21.3 PT; Ciech’s 2Q19 adjusted EBITDA broadly in line with our and the market's expectations; CEZ – substandard parts in EDF nuclear fleet might trigger supply squeeze

HEADLINES: • S Immo: immediate threat removed, operations sound (upgraded to HOLD) • Ciech: 2Q19 adjusted EBITDA broadly in line with our and the market's expectations NEUTRAL • CEZ: substandard parts in EDF nuclear fleet might trigger supply squeeze POSITIVE • Polish retail: tax saga - Ministry of Finance expects suspension until 2021 • MedLife: acquires its first laboratory for pathological anatomy NEUTRAL • Polish telecoms: Poland will not specify 5G network suppliers in rules for auction NEUTRAL • Rostelecom: sells Central Telegraph space to O1 for RUB 3.5bn POSITIVE • Atrium: update fro...

Research Team

Focus: Polish telecoms – price hikes priced in already (keeping our HOLD on CPS, and downgrading OPL to HOLD and PLY to SELL); Raiffeisen Int. – 2Q19 – beat vs. expectations on mix of non-existent LLPs & pre-provision profit

HEADLINES: • Polish telecoms: price hikes priced in already (CPS stays HOLD, OPL downgraded to HOLD, PLY downgraded to SELL) • Raiffeisen Int.: 2Q19 - beat vs. expectations on mix of non-existent LLPs & pre-provision profit POSITIVE • Graphisoft Park: 2Q19 - steady as she goes POSITIVE • Magyar Telekom: 2Q19 - decent quarter, EBITDA (ex.IFRS 16 impact) up 2.4% yoy, 6% above our forecast POSITIVE • Tupras: 2Q19 results, weak EBITDA, strong net income • Anadolu Efes: 2Q19 results - stronger than expected, international volume growth guidance hiked POSITIVE • Ulker: 2Q19 results - 10% beat on EB...

Research Team

Focus: LiveChat Software’s 4Q18-19 EBITDA beats consensus by 11%; Erste Bank makes EUR 230m provision for old dispute in Romanian High Court; Polish financials – anti-usury bill draft amended, cutting maximum non-interest charges to 20%

HEADLINES: • LiveChat Software: 4Q18-19 EBITDA beats consensus by 11% POSITIVE • Erste Bank: makes EUR 230m provision for old dispute in Romanian High Court NEGATIVE • Polish financials: anti-usury bill draft amended, cutting maximum non-interest charges to 20% NEGATIVE • Play Communications: signs preliminary share purchase agreement for 3S Group NEGATIVE • Richter: AbbVie to acquire Allergen for USD 63bn NEUTRAL • Raiffeisen Int.: sees maximum EUR 15m potential provision related to Romanian building societies NEUTRAL • EME Strategy: MSCI - Kuwait upgraded conditionally to EM (broadly in line...

A double requalification allows RAIFFEISEN BANK INTL.AG to improve to Slightly Positive

RAIFFEISEN BANK INTL.AG (AT), a company active in the Money Center Banks industry, has received a double requalification by the independent financial analyst theScreener. Its fundamental valuation is now 3 out of 4 stars while its market behaviour can be considered as moderately risky. theScreener believes that the gain of a star(s) and an improvement in the market risk perception allows upgrading the general evaluation to Slightly Positive. As of the analysis date September 10, 2019, the closing price was EUR 21.59 and its potential was estimated at EUR 24.19.

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