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Raiffeisen Bank International Q2 profit dips YOY

Raiffeisen Bank International AG's second-quarter consolidated profit came in at €345 million, a decrease from €357 million a year ago.

Net interest income for the quarter rose year over year to €840 million from €834 million, but net fee and commission income declined to €437 million from €460 million. The group booked net trading loss and fair value result of €27 million, compared with a year-ago income of €18 million.

The Austrian lender incurred depreciation charges of €95 million, up from the year-ago €71 million. Impairment losses on financial assets came in at €2 million, compared to nil a year earlier, while levies and special governmental measures widened on a yearly basis to €17 million from €8 million.

General administrative expense increased to €773 million from the year-ago €754 million.

RBI reported first-half consolidated profit of €571 million, down 24.4% year over year from €756 million. Consolidated return on equity for the half was 10.1%, compared with the year-ago 15.5%.

The group's nonperforming exposures ratio dropped to 2.3% as of June 30 from 2.6% as of Dec. 31, 2018. Its NPE coverage ratio increased over the period to 59.0% from 58.3%. RBI expects the NPE ratio to further decline through the 2019 full year.

As of June-end, RBI's fully loaded and transitional common equity Tier 1 ratios stood at 13.8%, up from 13.4% as of 2018-end. The group aims to maintain a CET1 ratio of around 13% in the medium term.