Raiffeisen Bank International to Pay Higher Dividend Despite Drop in Net Profit
By Helena Smolak
Raiffeisen Bank International reported a decline in fourth-quarter net profit despite an increase in net interest income.
The Austrian bank, one of the few Western lenders still with a presence in Russia, said Wednesday that net profit for the fourth quarter was 272 million euros ($295 million) compared with EUR826 million in the year-earlier period. Nevertheless, shareholders will receive a dividend of EUR1.25, 45 cents higher than in the previous year.
Fourth-quarter operating income grew to EUR2.16 billion, as net interest income for the quarter rose 2% to EUR1.49 billion, the bank said.
Raiffeisen said it anticipates net interest income for 2024 to be around EUR5.1 billion, with loans to customers expected to grow around 5%.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
January 31, 2024 02:33 ET (07:33 GMT)
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