BANCI | ENGLISH

Raiffeisen Bank International announces the positive effect from the takeover of Visa Europe Ltd. by Visa Inc.

Autor:

2016-06-21 15:09

RBI announces the positive effect from the takeover of Visa Europe Ltd. by Visa Inc. (press release):

Raiffeisen Bank International AG (RBI) has been informed that the closing of the takeover of Visa Europe Ltd. by Visa Inc. should take place in the second quarter of 2016. Visa Inc. had announced the takeover of Visa Europe Ltd. in November of 2015. All regulatory approvals are in place. Visa Europe Ltd. was previously owned by its Principal Members, including nine units within the RBI Group.

The sale price is to be paid in three tranches: One cash payment at closing, a transfer of preferred shares of Visa Inc. at closing and a further cash payment in 2019.

The expected positive effect from the cash payment of the transaction at closing on RBI’s profit before tax will be EUR 97 million and should be booked under net income from financial investments in the second quarter of 2016. The valuation of the other two tranches will take place at the end of June 2016. The resulting effect thereof will be announced in the course of RBI’s half-year results for 2016.

The cash payment of this one-off effect (excluding tax effects, rounded) will be split as follows: Slovakia: EUR 22 million; Romania: EUR 15 million; Czech Republic: EUR 14 million; Poland: EUR 13 million; RBI head office: EUR 11 million; Croatia: EUR 7 million; Bulgaria: EUR 5 million; Hungary: EUR 4 million; Zuno: EUR 3 million.

At closing, the cash component of the transaction will have a slight positive effect (excluding taxes) on RBI’s CET1 ratio (transitional and fully loaded) as the vast majority of the cash component from the transaction was already booked in 2015 in equity under other comprehensive income. Following notification of the takeover in 2015, RBI increased the book value of the shares for Visa Europe Ltd. to the level of the announced cash payment.

Taguri: Raiffeisen Bank International AG (RBI)Visa

Comentarii

Adauga un comentariu

Adauga un comentariu folosind contul de Facebook

Alte stiri din categoria: ENGLISH

Neutral interest rate in Romania

The neutral nominal rate in Romania has been falling since the start of inflation targeting in 2005. The Taylor Rule clearly shows that interest rates peaked in 2022 and have been on a clear downward path ever since.Furthermore, the model estimates a long-term neutral nominal rate of around 3.9%, which is the equivalent of approx. 1.4% real.Using a more sophisticated model (i.e. New York FED’S HLW model), the real neutral interest rate in Romania is estimated currently at around 1.5% (1.7% 2023 average) and the historical mean at 1.2%.This implies a neutral nominal rate between 4.00% and 4.50%. In the past decade, the NBR real effective rate was below the neutral rate and only over the past year climbed above the neutral mark.Source: Erste Bank

Merger of Alpha Bank and UniCredit Bank Romania

Press Release:"Alpha Services and Holdings announces a strategic partnership with UniCredit in RomaniaMerger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by... detalii

National Bank of Romania (NBR) Board decisions on monetary policy

NBR Board decisions on monetary policyIn its meeting of 4 April 2023, the Board of the National Bank of Romania decided:• to keep the monetary policy rate at 7.00 percent per annum;• to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum;• to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.The annual inflation rate went down to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with forecasts. The decrease was mainly driven by the sizeable drop in the dynamics of fuel and electricity prices, under the impact of significant base effects and the change made to the energy price capping and compensation scheme starting 1... detalii

ING posts 2022 net result of €3,674 million, dividend of €0.389 per share

ING press release:ING posts FY2022 net result of €3,674 million,proposed final 2022 dividend of €0.389 per share 4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%•Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income•Higher net interest income, as a further increase in liability margins helped offset TLTRO impact this quarter•Risk costs declined to 17 bps of average customer lending Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits•On a full-year basis, our primary customer base grew by 585,000•Net core lending growth of €18 billion and net core deposits growth of €25 billion in 2022•Net result of €3,674 million in a challenging year; proposed final 2022 dividend of €0.389 per share CEO statement“Looking back, 2022 was... detalii