Raiffeisen Bank Shares Jump on Guidance Raise
November 03 2022 - 5:09AM
Dow Jones News
By Ed Frankl
Shares in Raiffeisen Bank International AG rose Thursday after
the company lifted its guidance and posted strong third-quarter
results.
At 0825 GMT, Raiffeisen shares were up 5.2% at EUR15.29.
The Austrian bank, which still maintains a presence in Russia,
raised its outlook for net interest income to around 4.8 billion
euros ($4.71 billion) from between EUR4.3 billion and EUR4.7
billion under previous guidance.
It also reported net profit in the three months to the end of
September of EUR1.09 billion, well up from EUR443 million in the
same period of the previous year.
The bank delivered a strong set of results, with a 36% beat to
expectations on preprovision profit, Deutsche Bank analyst Marlene
Eibensteiner said in a research note.
As in the previous quarter, this was driven by both net interest
income and fees, she said.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
November 03, 2022 04:54 ET (08:54 GMT)
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