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2020/07/03 / Erste Group Research

Raiffeisenlandesbank Oberoesterreich

RLB OOE is the central institution of the Raiffeisen Banking Group of Upper Austria. Today the bank is the largest regional Raiffeisen bank in Austria with total assets of approximately EUR 44bn.

In the 2019 financial year the consolidated earnings of RLB OOE declined by EUR 43mn to EUR 256.5mn. This corresponds to a decline of 14.4%. As in the previous year the main driver of the decrease in earnings was lower investment income from stakes in companies accounted for at-equity. Net interest income remained largely stable at EUR 400.9 mn, while net commission income grew to EUR 173.1mn.

Since November 2017 the rating stands at 'Baa1' with a stable outlook. The agency highlights the capitalization of the bank as a significant buffer for the mitigation of future risks as a credit-positive factor. In addition, the bank has a sustainability rating of 'prime C' from sustainability rating agency “oekom research”.

RLB OOE is an issuer of both public sector and mortgage covered bonds. The mortgage covered bond program is rated 'Aaa' by Moody's and represents the lion's share of the bank's outstanding covered bonds (76%).

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General information

AuthorErste Group Research
Date2020/07/03
Languageen
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Economy in focusAustria
Currency in focusEuro
Sector in focus-
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