By Helena SmolakRaiffeisen Bank International reported a decline in fourth-quarter net profit despite an increase in net interest income. The Austrian bank, one of the few Western lenders still with a presence in Russia, said Wednesday that net profit for the fourth quarter was 272 million euros ($295 million) compared with EUR826 million in the year-earlier period. Nevertheless, shareholders will receive a dividend of EUR1.25, 45 cents higher than in the previous year. Fourth-quarter operating income grew to EUR2.16 billion, as net interest income for the quarter rose 2% to EUR1.49 billion, the bank said. Raiffeisen said it anticipates net interest income for 2024 to be around EUR5.1 billion, with loans to customers expected to grow around 5%.

Source: Wall Street Journal January 31, 2024 19:14 UTC