Raiffeisen Shares Climb After 4Q Beat Views

By Cristina Roca

Shares in Raiffeisen Bank International AG traded higher Wednesday after the Austrian lender reported a rise in fourth-quarter earnings and said it expects core revenue and loans to grow this year.

Raiffeisen shares rose sharply at the open and at 0829 GMT traded 5.7% higher at EUR26.76.

The Vienna-based bank reported a net profit of 317 million euros ($357.3 million), beating analyst expectations of EUR255 million.

Operating income was EUR1.62 billion, up 35% on year and ahead of analyst views of EUR1.5 billion, led by sharp increases in net interest income--a key metric for retail banks--and fees and commissions.

For 2022, Raiffeisen expects NII to grow by a high-single-digit percentage. Net fee and commission income should post mid-single-digit percentage growth, and loans should grow by 7%-9% in the year, Raiffeisen said.

The bank increased its dividend to EUR1.15 from EUR0.48.

Write to Cristina Roca at cristina.roca@wsj.com

(END) Dow Jones Newswires

February 02, 2022 03:50 ET (08:50 GMT)

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