Raiffeisen Bank International AG — Cyborg Score 6/10
Solid
Commercial & Retail Banking
Strategic Profile
The bank operates the biggest foreign bank in Russia but has been unable to exit despite ongoing geopolitical challenges. Raiffeisen Bank International currently trades on a P/E of 10.4x, at the lower end compared with peers and the broader European banks sector. In the medium term, RBI is aiming for a consolidated return on equity of at least 13 percent excluding Russia and excluding expenses and provisions for litigation related to foreign currency loans in Poland.
Cyborg Score Rationale
Earnings are forecast to grow 12.47% per year while revenue is expected to decline by 1.3% per year. The loan book quality remains excellent with an NPE ratio of 1.7 percent. However, geopolitical exposure to Russia and regulatory risks in Central/Eastern Europe present material headwinds.
Top Insights
Full year 2025 results showed strong performance with 2026 earnings guidance and dividend proposal of €1.60 per share
Raiffeisen remains the largest foreign bank in Russia while competitors like Société Générale and HSBC have exited, creating ongoing geopolitical risk
Trading at 10.4x P/E versus peer average of 14.4x, suggesting valuation discount despite strong earnings growth forecast
Leadership transition: Michael Höllerer appointed as new CEO effective July 1, 2026, succeeding Johann Strobl
Named Competitors
Corporate Banking Services — European universal banking
Retail Banking Services — International banking services
Regional Banking Platform — Central/Eastern European banking
Recent Developments
(February 2026) CEO transition announced with Michael Höllerer to succeed Johann Strobl effective July 1, 2026
(January 2026) Reported 2025 consolidated profit up 48% to above €1.4 billion with €1.60 per share dividend proposal
(December 2025) Strong 2025 results released with positive 2026 guidance and capital position of 15.5% CET1 ratio excluding Russia
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