Raiffeisen Bank International (RBI) Q3 2026 earnings summary

Executive summary

• 9M consolidated profit rose 76.8% to €1,638m, while Core profit excluding Russia increased 9.8% to €1,127m; the comparison benefited from the prior-year Rasperia-related derecognition.

• Q3 consolidated profit was €382m, pressured by a new €300m Rasperia legal-risk provision; Q3 Core profit excluding Russia was €419m, down 9% YoY.

• Strategy priorities include profitable CEE and CIB growth, stronger retail engagement, wealth management, cost discipline and efficient capital use; 2030 targets are due at Capital Markets Day on 10 February 2027.

Financial highlights

• 9M Core net interest income rose 6.9% to €3,347m and net fee income increased 10.2% to €1,624m; Core operating income was €5,160m, up 7.7%.

• 9M consolidated net interest income rose 1.7% to €4,508m and net fee income increased 5.3% to €2,140m; operating income was nearly flat at €6,823m.

• 9M consolidated operating result declined 7.6% to €3,516m as administrative expenses rose 8.8% to €3,307m; profit after tax was €1,815m, up 62.8%.

• Q3 Core net interest income reached €1,160m, up 4% QoQ; Core operating income excluding Russia rose 10% YoY to €1,778m, while operating result was €798m, up 2%.

Outlook and guidance

• FY2026 Core guidance excluding Russia and including Garanti: net interest income above €4.5bn, net fee income ~€2.2bn, administrative expenses ~€3.9bn and cost/income ratio ~55%.

• FY2026 risk-cost guidance is up to 35 bps; consolidated ROE is expected at ~13%, and customer loans to grow ~9% excluding M&A.

• Year-end CET1 is expected at ~14.5%, including announced acquisitions; medium-term consolidated ROE target is at least 13% excluding Russia and specified Polish FX-loan and Rasperia legal costs.

• Guidance assumes Addiko settlement in Q4, subject to approvals; its one-off badwill is expected to add ~310 bps to consolidated ROE.