RAIFY Raiffeisen Bank International AG (PK)

By Ed Frankl

Shares in Raiffeisen Bank International AG rose Thursday after the company lifted its guidance and posted strong third-quarter results.

At 0825 GMT, Raiffeisen shares were up 5.2% at EUR15.29.

The Austrian bank, which still maintains a presence in Russia, raised its outlook for net interest income to around 4.8 billion euros ($4.71 billion) from between EUR4.3 billion and EUR4.7 billion under previous guidance.

It also reported net profit in the three months to the end of September of EUR1.09 billion, well up from EUR443 million in the same period of the previous year.

The bank delivered a strong set of results, with a 36% beat to expectations on preprovision profit, Deutsche Bank analyst Marlene Eibensteiner said in a research note.

As in the previous quarter, this was driven by both net interest income and fees, she said.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

November 03, 2022 04:54 ET (08:54 GMT)

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