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VIENNA, Nov 20 (Reuters) - Raiffeisen Bank International expects profits at its key Russian market to ease in the fourth quarter versus the previous three months, Chief Financial Officer Martin Gruell told a conference call with analysts on Thursday.
Higher risk provisioning and operating expenses were likely to have profits in its single most profitable market lag the 78 million euros ($98 million) it made there in the third quarter, he said. “I would expect the fourth quarter to be a bit lower than the third quarter,” he said.
He said he believed the worst of the rouble’s devaluation was over, but added that the impact on group capital from the Russian currency’s decline could push RBI’s core capital below 10 percent of risk-weighted assets at the end of this year.
1 US dollar = 0.7961 euro Reporting by Michael Shields; Editing by Shadia Nasralla