March 18, 2020 / 6:46 AM / 14 days ago

RBI lowers 2020 loan growth expectations, sticks to medium-term targets

VIENNA, March 18 (Reuters) - Raiffeisen Bank International (RBI) on Wednesday said loan growth would be lower than initially expected this year due to the impact of the coronavirus outbreak.

The provisioning ratio for this year is expected to rise to between 50 and 75 basis points, depending on the length and severity of disruption, the Austrian lender said.

The bank still aims to achieve a cost/income ratio of around 55% in the medium term but is evaluating how the current circumstances will impact the ratio next year, it said.

It is also sticking to its medium-term target of a consolidated return on equity of approximately 11%, but said it was evaluating the impact of the current environment on this year’s profitability.

Reporting by Kirsti Knolle Editing by Michelle Martin

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