April 4, 2019 / 4:50 AM / 18 days ago

BRIEF-Swiss bank Raiffeisen expects volume, income in core business to grow in 2019

April 4 (Reuters) - Raiffeisen Schweiz Genossenschaft :

* LAST YEAR WAS CHALLENGING FOR THE RAIFFEISEN GROUP IN A NUMBER OF WAYS

* THE SWISS BANKING MARKET WILL CONTINUE TO BE INFLUENCED BY MARGIN PRESSURE

* RAIFFEISEN EXPECTS VOLUME AND INCOME IN THE CORE BUSINESS TO GROW MODERATELY IN 2019, DESPITE THE SIGNIFICANT CHALLENGES PRESENTED BY THE MARKET ENVIRONMENT

* RAIFFEISEN EXPECTS LOANS TO CLIENTS TO GROW AT A SIMILAR PACE TO 2018, WHILE CLIENT DEPOSITS ARE EXPECTED TO ONCE AGAIN GROW FASTER

* INCOME IN INTEREST OPERATIONS AND COMMISSION AND SERVICES BUSINESS SHOULD THEREFORE INCREASE SLIGHTLY FOR THE RAIFFEISEN BANKS AND RAIFFEISEN SWITZERLAND

* IN 2018, IN ITS CORE BUSINESS, THE GROUP ACHIEVED FURTHER RELEVANT GROWTH IN THE MORTGAGE PORTFOLIO, WHICH RAISED THE GROSS RESULT FROM INTEREST OPERATIONS BY CHF 40 MILLION.

* THE GROUP’S TOTAL OPERATING INCOME OF CHF 3.1 BILLION WAS CHF 231 MILLION BELOW THE PREVIOUS YEAR’S FIGURE OF CHF 3.3 BILLION

* DECLINE DUE TO REASSESSMENT OF RECOVERABILITY OF INVESTMENTS AND FINANCIAL ASSETS AT KMU CAPITAL GROUP, LACK OF INCOME FROM COMMISSION AND TRADING ACTIVITIES AS A RESULT OF THE SALE OF NOTENSTEIN LA ROCHE PRIVATBANK AG AS AT MID-YEAR

* DECLINE IN OPERATING INCOME WAS ALSO DUE TO SHARP FALL IN CAPITALISATION IN CONNECTION WITH THE NEW CORE BANKING SYSTEM Source text: tinyurl.com/y6ps723a Further company coverage: (Reporting by Michelle Martin)

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