Raiffeisen Proposes Carrying Forward 2021 Profit Due to Ukraine Conflict
01 Marzo 2022 - 11:10AM
Noticias Dow Jones
By Ed Frankl
Raiffeisen Bank International AG said Tuesday that it intends to
carry forward its entire net profit for the 2021 financial year
"due to the war in Ukraine".
The Austrian lender, one of the largest in central and eastern
Europe, had previously intended to propose a 2021 dividend of 1.15
euros ($1.29) per share, after a full-year profit of EUR380.0
million.
The Vienna-based bank made 33% of its net profit in Russia last
year, but its Chief Executive said new lending in Russia and
Ukraine has now been suspended.
"Once the current critical geopolitical developments have
subsided, the management board intends to reassess the possibility
of a subsequent dividend distribution from the retained earnings of
the 2021 financial year, taking into account the development of the
capital ratios and the economic effects of the conflict," the bank
said in a statement.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
March 01, 2022 11:55 ET (16:55 GMT)
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