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29.10.14

RZB clearly passes ECB stress test

  • Sufficient capitalisation in both scenarios
  • Results confirm robust business model
  • Only minor AQR adjustments
  • Explanation of results in a conference call on 27 October

Raiffeisen Zentralbank sterreich AG (RZB) Group  which comprises the central institution of the Raiffeisen Banking Group in Austria and its participations, including Raiffeisen Bank International (RBI) Group, the specialised sector companies and UNIQA  has clearly passed the European Central Banks (ECB) stress test. RZB significantly surpasses the required capital ratios in both the baseline and adverse scenarios of the stress test. In the baseline scenario, RZB reaches a common equity tier 1 ratio (CET 1 ratio), including AQR adjustments, of 9.48 per cent (requirement: 8.0 per cent). In the adverse scenario, the CET 1 ratio of RZB, including AQR adjustments, is 7.77 per cent (requirement: 5.5 per cent).

The ECBs Asset Quality Review, which preceded the stress test, brought about adjustments to the common equity tier 1 ratio, used by the ECB in its stress test for RZB, in the amount of 0.65 percentage points. These adaptations are mainly due to the fact that the ECB employs a different approach to RZB for portfolio-based loan loss provisions. Moreover, the AQR does not account for provisions which were established in the current financial year.

The results of the stress test confirm the robustness of RZBs business model, especially as very severe stress scenarios were applied for our home market, Central and Eastern Europe, compared to other European regions, said Walter Rothensteiner, General Director of RZB. We are equally pleased that the AQR results underline the intrinsic value of our balance sheet.

In the course of the release, the ECB also published hypothetical ratios under full application of the Basel III regulations (fully loaded) based on the balance sheet figures as at 31.12.2013. These regulations will first come fully into force in 2023. There were two factors not taken into consideration in all of the ECBs results: On the one hand, RBIs capital increase carried out in January 2014, and on the other, the sub-consolidation of the RBI Group as recognized for regulatory purposes. Assuming the ECBs base CET1 ratio minimum requirement of 8.0 per cent, as specified for the stress test, the abovementioned factors would thereby increase RZBs fully loaded 2016 CET1 ratio in the baseline scenario by 3.40 percentage points to 8.97 per cent, and in the adverse scenario by 4.03 percentage points to 7.90 per cent.


Detailed information on RZBs stress test results is available at ECBs Website. On Monday, 27 October 2014, 9 a.m. (CET) a conference call on the topic will take place. Johann Strobl, RZB board member and RBI CRO, as well as RBI CEO Karl Sevelda and RBI CFO Martin Grll will participate in the call. The link for the conference call webcast is as follows.

Raiffeisen Zentralbank sterreich (RZB) is the central institution of the Austrian Raiffeisen Banking Group (RBG), the countrys largest banking group, including Raiffeisen Bank International (RBI). It also acts as the steering holding for the whole RZB Group and, creating synergies and joint solutions, as a hub between the RBG and RBI.

Via its listed subsidiary Raiffeisen Bank International, RZB holds one of the largest banking networks in CEE. 15 markets of the region are covered by subsidiary banks. Additionally, the Group comprises numerous other financial service providers, for instance in the fields of leasing, asset management and mergers and acquisitions. The RZB Groups more than 59,000 employees service some 14.5 million customers through nearly 3,000 business outlets.

For more information please contact: Ingrid Krenn-Ditz (+43-1-71 707-6055, ingrid.krenn-ditz@rbinternational.com) or Monika Riedel (+43-1-71 707-8787, monika.riedel@rbinternational.com) or Christof Danz (+43-1-71 707 1930, christof.danz@rbinternational.com)

http://www.rzb.at/,

http://www.rbinternational.com/

 

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