May 24, 2012 / 5:56 AM / 6 years ago

Raiffeisen Bank Int'l Q1 profit beats expectations

VIENNA, May 24 (Reuters) - Raiffeisen Bank International’s first-quarter profit blew past market expectations as risk provisons surprisingly fell and it booked one-off gains, emerging Europe’s number three lender said on Thursday.

Consolidated profit doubled to 541 million euros ($680.8 million), easily beating the average estimate of 457 million euros after minorities in a Reuters poll of analysts and topping even the highest estimate in the survey.

“Taking into consideration measures already completed, or close to their conclusion, the RZB group currently reaches a core tier 1 ratio according to the EBA’s definition of 9.3 percent and is therefore in line with the plan,” it added. ($1=0.7947 euros) (Reporting by Michael Shields; Editing by Mikie Nesbit)

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