May 14, 2020 / 12:00PM GMT
Operator
Good afternoon, ladies and gentlemen, and welcome to the conference call of Raiffeisen Bank International. Today's conference is being recorded. At this time, I'd like to turn the conference over to Mr. Johann Strobl, Chief Executive Officer.
Johann Strobl - Raiffeisen Bank International AG - Chairman of the Management Board & CEO
Good afternoon, ladies and gentlemen, and thank you for joining the call today. I will start by taking a brief look at the first quarter numbers. And then, of course, we will also update on our outlook. The operating result was up 33% year-on-year, which we like very much, and this is driven by a 7% increase in net interest income and even more so by an 11% rise in the net fee and commission income.
The net trading income and the fair value results also increased following the introduction of hedge accounting for certain portfolios and the reduction in consolidation effects. You might remember that last year, we suffered from inefficient hedging, but this was improved substantially with 1 of -- 2 of our subsidiaries.
Q1 2020 Raiffeisen Bank International AG Earnings Call Transcript
May 14, 2020
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