WBAG:RBI

Stock Analysis Report

Raiffeisen Bank International

Executive Summary

Raiffeisen Bank International AG, together with its subsidiaries, provides corporate, retail, and investment banking services.


Snowflake Analysis

Undervalued established dividend payer.


Similar Companies

Share Price & News

How has Raiffeisen Bank International's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: RBI's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

10.7%

RBI

5.0%

AT Banks

2.7%

AT Market


1 Year Return

-28.2%

RBI

-33.2%

AT Banks

-30.4%

AT Market

Return vs Industry: RBI exceeded the Austrian Banks industry which returned -29.9% over the past year.

Return vs Market: RBI matched the Austrian Market which returned -28.3% over the past year.


Shareholder returns

RBIIndustryMarket
7 Day10.7%5.0%2.7%
30 Day-29.6%-34.5%-28.0%
90 Day-36.3%-37.9%-34.1%
1 Year-24.9%-28.2%-30.5%-33.2%-28.0%-30.4%
3 Year-27.3%-32.1%-22.9%-29.0%-16.1%-23.6%
5 Year15.6%8.0%5.8%-4.3%1.0%-13.2%

Price Volatility Vs. Market

How volatile is Raiffeisen Bank International's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Raiffeisen Bank International undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: RBI (€14.37) is trading below our estimate of fair value (€40.43)

Significantly Below Fair Value: RBI is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: RBI is good value based on its PE Ratio (4.1x) compared to the Banks industry average (5.8x).

PE vs Market: RBI is good value based on its PE Ratio (4.1x) compared to the Austrian market (11.7x).


Price to Earnings Growth Ratio

PEG Ratio: RBI's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: RBI is good value based on its PB Ratio (0.4x) compared to the AT Banks industry average (0.5x).


Next Steps

Future Growth

How is Raiffeisen Bank International forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

-0.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RBI's earnings are forecast to decline over the next 3 years (-0.8% per year).

Earnings vs Market: RBI's earnings are forecast to decline over the next 3 years (-0.8% per year).

High Growth Earnings: RBI's earnings are forecast to decline over the next 3 years.

Revenue vs Market: RBI's revenue (1.4% per year) is forecast to grow slower than the Austrian market (2% per year).

High Growth Revenue: RBI's revenue (1.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: RBI's Return on Equity is forecast to be low in 3 years time (7.7%).


Next Steps

Past Performance

How has Raiffeisen Bank International performed over the past 5 years?

47.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RBI has high quality earnings.

Growing Profit Margin: RBI's current net profit margins (22.1%) are lower than last year (23.9%).


Past Earnings Growth Analysis

Earnings Trend: RBI has become profitable over the past 5 years, growing earnings by 47.6% per year.

Accelerating Growth: RBI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: RBI had negative earnings growth (-3.7%) over the past year, making it difficult to compare to the Banks industry average (-0.2%).


Return on Equity

High ROE: RBI's Return on Equity (9.9%) is considered low.


Next Steps

Financial Health

How is Raiffeisen Bank International's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: RBI has a low level of unsold assets or inventory.

Debt Coverage by Assets: RBI's debt is covered by short term assets (assets are 2.2x debt).


Financial Institutions Analysis

Asset Level: RBI's level of assets compared to its equity is moderate.

Allowance for Bad Loans: RBI has a low allowance for bad loans.

Low Risk Liabilities: RBI's liabilities are made up of primarily low risk sources of funding.

Loan Level: RBI has an acceptable proportion of non-loan assets held.

Low Risk Deposits: RBI's loans are broadly funded by customer deposits.

Level of Bad Loans: RBI has a high level of bad loans (2.84%)


Next Steps

Dividend

What is Raiffeisen Bank International's current dividend yield, its reliability and sustainability?

6.96%

Current Dividend Yield


Upcoming Dividend Payment

TodayMar 28 2020Ex Dividend DateJun 25 2020Dividend Pay DateJun 29 20204 days from Ex DividendBuy in the next 88 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: RBI's dividend (6.96%) is higher than the bottom 25% of dividend payers in the Austrian market (1.89%).

High Dividend: RBI's dividend (6.96%) is in the top 25% of dividend payers in the Austrian market (6.58%)


Stability and Growth of Payments

Stable Dividend: RBI's dividend payments have been volatile in the past 10 years.

Growing Dividend: RBI's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (28.2%), RBI's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: RBI's dividends in 3 years are forecast to be well covered by earnings (45.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.0yrs

Average management tenure


CEO

Johann Strobl (60yo)

3s

Tenure

€2,146,000

Compensation

Dr. Johann Strobl has been Chairman of Management Board and Chief Executive Officer at Raiffeisen Bank International AG since March 18, 2017 and has been its Member of Management Board since October 10, 20 ...


CEO Compensation Analysis

Compensation vs Market: Johann's total compensation ($USD2.37M) is about average for companies of similar size in the Austrian market ($USD2.56M).

Compensation vs Earnings: Johann's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Johann Strobl
Chairman of the Board & CEO3yrs€2.15mno data
Peter Lennkh
Member of Management Board15.42yrs€1.77mno data
Andreas Gschwenter
COO, Chief Information Officer & Member of Management Board4.67yrs€1.67mno data
Hannes Mösenbacher
Chief Risk Officer & Member of Management Board3yrs€1.47mno data
Andrii Stepanenko
Member of Management Board & Retail Banking Executive2yrs€1.28mno data
Lukasz Januszewski
Member of Management Board & Markets & Investment Banking Executive2yrs€1.23mno data
Helmut Breit
Head of Corporate Financeno datano datano data
Susanne E. Langer
Head of Group Investor Relationsno datano datano data
Christoph Lehner
Head of Group Complianceno datano datano data
Ingrid Krenn-Ditz
Head of Group Communicationsno datano datano data

3.0yrs

Average Tenure

50yo

Average Age

Experienced Management: RBI's management team is considered experienced (3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Erwin Hameseder
Independent Chairman of the Supervisory Board2.75yrs€151.00kno data
Helge Rechberger
Independent Supervisory Board Member9.42yrsno datano data
Peter Anzeletti-Reikl
Independent Supervisory Board Member9.42yrsno datano data
Jakob Auer
Deputy Chairman of Advisory Council1.17yrsno datano data
Heinrich Schaller
Independent Second Deputy Chairman of the Supervisory Board7.75yrs€114.00kno data
Eva Eberhartinger
Independent Supervisory Board Member2.75yrs€87.00kno data
Rudolf Kortenhof
Independent Supervisory Board Member9.42yrsno datano data
Robert Lutschounig
Chairman of Advisory Council1.17yrsno datano data
Birgit Noggler
Independent Supervisory Board Member2.75yrs€97.00kno data
Martin Schaller
Independent First Deputy Chairman of the Supervisory Board5.75yrs€121.00kno data

4.3yrs

Average Tenure

54yo

Average Age

Experienced Board: RBI's board of directors are considered experienced (4.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Raiffeisen Bank International AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Raiffeisen Bank International AG
  • Ticker: RBI
  • Exchange: WBAG
  • Founded: 1986
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €4.721b
  • Shares outstanding: 328.62m
  • Website: https://www.rbinternational.com

Number of Employees


Location

  • Raiffeisen Bank International AG
  • Am Stadtpark 9
  • Vienna
  • Vienna
  • 1030
  • Austria

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RBIWBAG (Wiener Boerse AG)YesBearer SharesATEURApr 2005
RAWDB (Deutsche Boerse AG)YesBearer SharesDEEURApr 2005
RAIF.FOTCPK (Pink Sheets LLC)YesBearer SharesUSUSDApr 2005
0NXRLSE (London Stock Exchange)YesBearer SharesGBEURApr 2005
RAWXTRA (XETRA Trading Platform)YesBearer SharesDEEURApr 2005
RBIVBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEURApr 2005
RBISWX (SIX Swiss Exchange)YesBearer SharesCHCHFApr 2005
RAWETLX (Eurotlx)YesBearer SharesITEURApr 2005
RBISEP (The Stock Exchange Prague Co. Ltd.)YesBearer SharesCZCZKApr 2005
RAIF.YOTCPK (Pink Sheets LLC)ADRUSUSDNov 2009

Biography

Raiffeisen Bank International AG, together with its subsidiaries, provides corporate, retail, and investment banking services. The company offers various financing products and services, including corporate finance, structured finance, corporate bonds, and factoring services; leasing services; investment solutions, such as securities, money market investments, and structured products for commercial, as well as institutional customers; currency, interest, and commodity hedging services, as well as trustee transaction processing services; and export financing comprising letters of credit and guarantees. It also provides investment banking services, which include advisory on bond issues, promissory notes, and private placements; arranging syndicated loans and structure asset based finance transactions; and assisting clients in mergers, acquisitions, sales, and privatizations to companies, financial institutions, and the public sector. In addition, the company offers traditional payments products, such as SEPA and cross-border-payments; electronic banking and e-business services; and international cash pooling and individual one-off payment solutions to commercial customers and financial institutions. Further, it provides fund administration/custodian bank, fund services sales, and fund services brokerage services, as well as infrastructure securities services; group securities services to institutional clients, such as custodians, broker/dealers, and investment funds; and credit and preload cards. The company has 2,159 business outlets in Central, Southeastern, and Eastern Europe. Raiffeisen Bank International AG was founded in 1986 and is headquartered in Vienna, Austria. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/27 21:18
End of Day Share Price2020/03/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.