May 14, 2020 / 6:03 AM / 16 days ago

Austria's Raiffeisen posts 22% Q1 profit drop

VIENNA, May 14 (Reuters) - Raiffeisen Bank International (RBI) posted a 22% fall in first-quarter profit and said it expects loan growth to be moderate and risk costs to increase this year due to the economic fallout from the coronavirus pandemic in its markets.

The Austrian lender said on Thursday net profit fell to 177 million euros ($224 million) in the first quarter, beating analyst expectations of 148 million, according to a poll published on its website.

It now expects the provisioning ratio to increase to 75 basis points this year after having previously guided for 50-75 basis points. ($1 = 0.9254 euros) (Reporting by Kirsti Knolle Editing by Michelle Martin)

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