Raiffeisenbank’s net profit in 2023 decreased by 11% – Kommersant
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At the end of 2023, Raiffeisenbank’s net profit according to Russian accounting standards (RAS) decreased by 11.1% compared to 2022 and amounted to 125.4 billion rubles. should from the annual reporting of the credit institution. In 2022, the bank received 141.1 billion rubles. arrived.
The net profit of the Russian subsidiary of the Austrian group Raiffeisen Bank International in January–September 2023 amounted to 93 billion rubles. Thus, in the fourth quarter, Raiffeisenbank earned 32.4 billion rubles. arrived. The bank finished the third quarter of last year with a profit of 34.7 billion rubles.
Raiffeisenbank’s net interest income before reserves in 2023 reached 111.96 billion rubles, increasing by 37% compared to 2022, after deducting reserves – by 66.9%, to 96.6 billion rubles. The bank’s expenses on reserves last year amounted to 15.4 billion rubles, which is 35.5% less than expenses in 2022.
Net income from transactions with financial assets assessed at fair value in 2023 amounted to almost 3 billion rubles. against 54 billion rubles. in 2022. Commission income remained almost unchanged compared to 2022, amounting to RUB 77.3 billion, commission expenses increased by 21%, to RUB 12.3 billion.
The bank’s assets as of December 31, 2023 amounted to RUB 2.041 trillion. Over the year, the figure decreased by 2.4%. The loan portfolio after deducting provisions in 2023 grew by 3%, to RUB 1.270 trillion. Customer funds decreased by 8.2%, to RUB 1.466 trillion. The bank’s own funds by the end of the year increased by 40%, to 427.3 billion rubles.
In 2023, RBI’s annual net profit in Russia amounted to more than 56% in the structure of the group’s consolidated net profit – €1.3 billion for the Raiffeisenbank group in the Russian Federation out of €2.4 billion in total. However, compared to the record year of 2022, the performance of the group’s Russian business decreased. Thus, net interest income decreased by almost 8%, to €1.4 billion. Net commission income fell by 43%, to €1.15 billion, operating income – 30%, to €2.7 billion.
Read more in the Kommersant article. “RBI reduces profits from Russia”.
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