May 07, 2021 / 12:00PM GMT
Operator
I would like to turn the conference over to Mr. Johann Strobl, Chief Executive Officer. Please go ahead, sir.
Johann Strobl - Raiffeisen Bank International AG - Chairman of the Management Board & CEO
Good afternoon, ladies and gentlemen. A very warm welcome. Thank you for joining the call today.
Talking about first quarter, profit was up 22% year-on-year, driven, to a large extent, by lower risk costs.
On the revenue side, net interest income was stable compared to the fourth quarter in 2020, and net fee and commission income has now almost recovered to the Q1 level of 2022 (sic) [2020].
We are seeing positive signals in some of our markets as yield curves begin to steepen. While this is unlikely to have a major impact in 2021, it is nevertheless a step in the right direction.
Loans to customers grew by 1.3% in the first quarter with some support by FX movements. In retail, loan growth was primarily driven by mortgage loans and, to a lesser extent, by personal loans. In corporate, new lending was mainly short term.
Q1 2021 Raiffeisen Bank International AG Earnings Call Transcript
May 07, 2021
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