31.10.2018 - Sale of the core banking operations of RBI subsidiary Raiffeisen Bank Polska closed

Sale of the core banking operations of RBI subsidiary Raiffeisen Bank Polska to BGZ BNP closed

The sale of the core banking operations of Raiffeisen Bank Polska S.A., agreed upon in April this year, by way of demerger to Bank BGZ BNP Paribas S.A., a subsidiary of BNP Paribas S.A., was successfully closed today upon receipt of regulatory approval.

The sales price is approximately PLN 3,250 million (around EUR 760 million), equating to a price/tangible book value multiple of around 0.95 times. This is based on core banking operations equity of approximately EUR 877 million at the time of closing. The sale results in a positive impact of approximately 85 basis points on RBI Group’s CET1 ratio (fully loaded). Under the terms of the agreement with the buyer, total assets of approximately EUR 9.3 billion and total risk-weighted assets of approximately EUR 4.9 billion have been allocated to the core banking operations.

The direct impact of the sale on RBI Group’s consolidated profit is expected to amount to minus EUR 121 million, already recognized in the income statement in the second quarter. The amount may change following the audited closing statement of financial position. Additional equity neutral effects from the disposal after closing amount to around minus EUR 38 million and are primarily due to already realized currency effects.

Immediately after the demerger, RBI will transfer the remaining Raiffeisen Bank Polska S.A. operations, mainly comprising the foreign currency retail mortgage loan portfolio, to a Polish branch of RBI AG. The branch has total assets of approximately EUR 3.3 billion at its disposal.

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RBI regards Austria, where it is a leading corporate and investment bank, as well as Central and Eastern Europe (CEE) as its home market. 13 markets of the region are covered by subsidiary banks. Additionally, the RBI Group comprises numerous other financial service providers, for instance in leasing, asset management or M&A.

In total, around 47,000 employees service almost 16 million customers through around 2,200 business outlets, the majority thereof in CEE. RBI's shares are listed on the Vienna Stock Exchange. The Austrian Regional Raiffeisen Banks own around 58.8 per cent of the shares, the remainder is in free float. Within the Austrian Raiffeisen Banking Group, RBI is the central institute of the Regional Raiffeisen Banks and other affiliated credit institutions and renders important services in this function.

For further information please contact:
Ingrid Krenn-Ditz (+43-1-71 707-6055, ingrid.krenn-ditz@rbinternational.com) or
Christof Danz (+43-1-71 707-1930, christof.danz@rbinternational.com)
http://www.rbinternational.com

Ingrid Krenn-Ditz

Head of Group Communications | Corporate Spokeswoman
Raiffeisen Bank International AG
Am Stadtpark 9, 1030 Wien
Tel: +43-1-71707-6055
Fax: +43-1-71707-3802
ingrid.krenn-ditz@rbinternational.com
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