RBI: Big plans in the neighboring country of the Czech Republic

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After Corona had clearly left its mark on the balance sheet of Raiffeisen Bank International (RBI) in the previous year, with consolidated earnings falling by a third to 804 million euros, CEO Johann Strobl does not expect “more dynamism” until the second half of 2021.

This dynamic is said to come primarily from the Czech Republic. The neighboring country is to become the main market for RBI. RBI wants to develop further through organic growth in the Czech Republic, but in the past few weeks, acquisitions have also been made with Equa Bank and payment transaction provider Akcenta. In addition, RBI is allowed to take over the Czech private customers of ING-Bank, which is withdrawing from the country.

The Czech Republic is not the only market in which RBI is hoping for growth. Strobl also sees potential for solid credit growth in Hungary, Russia and Serbia.

RBI intends to stick to its medium-term goals. “Corona has thrown us back by one to one and a half years,” said Strobl yesterday during the online presentation of the business figures for 2020.

The institute is sticking to the planned dividend payment of EUR 0.48 per share. “We have a good capital base that allows us to grow with our customers and at the same time allow our shareholders to participate in the success of RBI,” said Strobl. After the figures were announced, the bank’s share rose by around one and a half percent.

Article by

Hermann Neumller

Economy editor

Hermann Neumüller

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https://www.nachrichten.at/wirtschaft/rbi-grosse-plaene-im-nachbarland-tschechien;art15,3369164

RBI Big plans neighboring country Czech Republic

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