Raiffeisen Bank International (RBI) investor relations material

Executive summary

• Consolidated profit for Q1 2026 was EUR 470 million, down 33% year-over-year, mainly due to lower operating income in Russia, higher bank levies, and increased risk costs; excluding Russia, profit was EUR 209 million, down 50% quarter-over-quarter, with RoE at 5.2%.

• Operating result excluding Russia reached EUR 760 million, up 3.2% quarter-on-quarter and 12% year-over-year, reflecting strong core banking performance; overall operating result fell 10% to EUR 1,140 million.

• CET1 ratio excluding Russia stands at 14.9%, with the group CET1 at 17.3%-17.7%; solid loan growth and prudent capital management maintained.

• Announced two strategic acquisitions: Garanti Bank in Romania and a voluntary tender offer for Addiko, both expected to strengthen market position and fit within capital plans.

• General administrative expenses increased 8% to EUR 1,075 million, driven by inflation and higher IT and advertising costs.

Financial highlights

• Net interest income for Q1 2026 was EUR 1,459 million (+1% quarter-on-quarter, -3% year-over-year); net fee and commission income EUR 693 million (+4% year-over-year, -1% quarter-on-quarter).

• Loans to customers grew 3.3% in the quarter to EUR 109.1 billion; deposits from customers rose 4.3% to EUR 133.1 billion.

• Cost/income ratio increased to 48.0% from 43.3% a year earlier; targeted at 52.5% for 2026.

• Earnings per share were EUR 1.34, down 35% year-over-year.

• NPE ratio at 1.6%, NPE coverage ratio at 48.7%.

Outlook and guidance

• 2026 outlook confirmed: Net interest income expected around EUR 4.4 billion (excluding Russia), net fee and commission income around EUR 2.1 billion.

• Loan growth guidance for 2026 remains at 7% (excluding acquisitions); cost/income ratio targeted at 52.5%.

• Risk cost guidance unchanged at 35-36 basis points.

• Return on equity target for the group (excluding Russia) is 10.5%, with medium-term target at ~12.5%.

• CET1 ratio expected at 14.3% at year-end 2026 including acquisitions; may dip below 14.5% medium-term target due to M&A.

• Dividend payout ratio for 2026 confirmed at 40%, or roughly EUR 1.8 per share.