February 6, 2020 / 7:30 AM / 19 days ago

Raiffeisen beats quarterly revenue estimates on loan growth

Feb 6 (Reuters) - Raiffeisen Bank International on Thursday reported quarterly core revenue that edged past estimates, helped by strong loan growth.

The Austrian lender, which operates across central and eastern Europe, reported fourth-quarter net fee and commission income of 489 million euros ($537.85 million), beating a company-compiled consensus of 476 million euros.

Net interest income was broadly in line with estimates of 881 million euros, provided by the company.

In the third quarter, Raiffeisen’s net profit had been hurt by impairment losses due to the European Banking Authority’s new rules related to loan defaults and higher provisioning in the Czech Republic and Hungary.

However, the lender managed to recover its fourth-quarter profit to a level from before the drop, which most analysts were not expecting.

Raiffeisen said it would propose a 2019 dividend of 1 euro per share. ($1 = 0.9092 euros) (Reporting by Zuzanna Szymanska; Editing by Shounak Dasgupta)

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