Raiffeisen Bank International AG (OTCPK:RAIFF) Q4 2024 Results Conference Call February 4, 2025 8:00 AM ET
Company Participants
Johann Strobl – Chief Executive Officer
Hannes Mosenbacher – Chief Risk Officer
Conference Call Participants
Benoit Petrarque – Kepler Cheuvreux
Gabor Kemeny – Autonomous Research
Riccardo Rovere – Mediobanca
Paul Fenner – Societe Generale
Simon Nellis – Citi
Operator
Good afternoon, ladies and gentlemen, and welcome to the Preliminary Results 2024 Conference Call of Raiffeisen Bank International. Today’s conference is being recorded. At this time, I would like to turn the conference over to Mr. Johann Strobl, Chief Executive Officer. Please go ahead, sir.
Johann Strobl
Thank you. Good afternoon, ladies and gentlemen. Welcome to our full-year 2024 results call. I hope that you have had a good start to the year, and I thank you for joining us today.
Let me begin with a few overview slides before we dig into the quarterly trends. We start with Slide 4, where we can report group consolidated profits of €1.157 billion and a 9.4% return on equity, excluding the OCI recycling in Belarus. This is, of course, a substantial drop in consolidated profit year on year, and it includes two major effects in the fourth quarter. The first is the provision in Russia related to the recent court decision, what we have from the Rasperia case. The second effect is the sale of Belarus with a PLN impact of minus €824 million I will discuss both of these in just a moment.
Focusing on the core group, which excludes Russia and Belarus, we can report consolidated profits of €975 million broadly stable year on year. Like last year, this core profitability is significantly impacted by further litigation provisions in Poland. On the bright side, we see that one of the group, excluding Russia, comes at 15%, slightly above our guidance.
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