Raiffeisen Bank International FY 2015 Results

Transcription

1 Raiffeisen Bank International FY 2015 Results

2 Disclaimer Certain statements contained herein may be statements of future expectations and other forward-looking statements, which are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressedor implied in such statements. In addition to statements which are forward-looking by reason of context, words such as "may", "will", "should", "expects", "plans", "contemplates", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions typically identify forward-looking statements. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As such, no forward-looking statement can be guaranteed. Undue reliance should not be placed on these forward-looking statements. Many factors could cause our results of operations, financial condition, liquidity, and the development of the industries in which we compete, to differ materially from those expressed or implied by the forward-looking statements contained herein. These factors include, without limitation, the following: (i) our ability to compete in the regions in which we operate; (ii)our ability to meet the needs of our customers; (iii) our ability to leverage synergies from acquisitions, cost reduction programs or other projects; (iv) uncertainties associated with general economic conditions particularly in CEE; (v) governmental factors, including the costs of compliance with regulations and the impact of regulatory changes; (vi) the impact of currency exchange rate and interest rate fluctuations; and (vii) other risks, uncertainties and factors inherent in our business. Subject to applicable securities law requirements, we disclaim any intention or obligation to update or revise any forward-looking statements set forth herein, whether as a result of new information, future events or otherwise. This document is for information purposes only and shall not be treated as giving any investment advice and/or recommendationwhatsoever. This presentation and any information (written or oral) provided to you does not constitute an offer of securities, nor a solicitation for an offer of securities, nor a prospectus or advertisement or a marketing or sales activity for such securities. The shares of Raiffeisen Bank International AG ( RBI ) have not been registered under the U.S. Securities Act of 1933 (the Securities Act ) nor in Canada, U.K. or Japan. No securities may be offered or sold in the United States or in any other jurisdiction, which requires registration or qualification, absent any such registration or qualification or an exemption therefrom. These materialsmust not be copied or otherwise distributed to U.S. persons (according to the definition under Regulation S of the Securities Act as amended from time to time) or publications with general circulation in the UnitedStates. The circulation of this document may be restricted or prohibited in certain jurisdictions. For the United Kingdom: This presentation and related material (these "Materials") are for distribution only to persons who are members of RBI falling within Article 43(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Financial Promotion Order") or who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Promotion Order), (ii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc") of the Financial Promotion Order, (iii) are outside the United Kingdom, or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "relevant persons"). These Materials are directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which these Materials relate is available onlytorelevant persons and will be engaged in only with relevant persons. Figures shown in the presentation are based on figures disclosed in the annual report as well as the interim reports of RBI. However, figures used in this document have been rounded, which could result in percentage changes differing slightly from those provided in such reports. We have exercised utmost diligence in the preparation of this presentation. However, rounding, transmission, printing, and typographical errors cannot be ruled out. We are not responsible or liable for any omissions, errors or subsequent changes which have not been reflected herein and we accept no liability whatsoever for any loss or damage howsoever arising from any use of this document or its content or third party data or otherwise arising in connection therewith. 2

3 Table of Contents Executive Summary Financials Risk Management Appendix

4 Executive Summary FY 2015 Significantly improved CET1 ratio y-o-y Transformation program well on track Polish sales process continues despite headwinds (bank levy and CHF portfolio) Revenues and net interest margin down y-o-y reflecting reduced volumes, adverse FX developments, and ongoing low interest rate environment Substantially improved risk costs y-o-y resulting from stabilization in most markets Positive profit development in the vast majority of our markets Robust performance of segment Eastern Europe (Belarus, Russia, Ukraine) Increased profit contribution from segment Central Europe resulting from positive trend in Hungary and growth in Czech Republic as well as Slovakia EBRD equity participation in Raiffeisen Bank Aval (Ukraine) completed 4

5 FY 2015 Financial Highlights Net interest income of EUR 3,327 mn (down 12.2% y-o-y) Net fee and commission income of EUR 1,519 mn (down 4.2% y-o-y) Operating income of EUR 4,929 mn (down 7.9% y-o-y) General administrative expenses decreased to EUR 2,914 mn (down 3.6% y-o-y) Profitability Net provisioning for impairment losses decreased to EUR 1,264 mn (down 27.8% y-o-y) Other results of minus EUR 40 mn (up EUR 641 mn y-o-y); 2014 impacted by non-recurring effects from goodwill impairments (EUR 399 mn) and from Settlement Act in Hungary (EUR 251 mn) Profit before tax improved to EUR 711 mn (vs loss of EUR 105 mn in FY 2014) Income taxes of EUR 276 mn (down EUR 207 mn y-o-y) Consolidated profit improved to EUR 379 mn (vs loss of EUR 617 mn in FY 2014) Asset Quality NPL ratio at 11.9% (up 0.5PP y-o-y) NPL coverage ratio increased to 71.3% (up 3.8PP y-o-y) Loans to customers decreased to EUR 69.9 bn (down 10.3% y-o-y) Regulatory Capital Ratios Common equity tier 1 ratio: fully loaded 11.5% (up 1.5PP y-o-y); transitional 12.1% (up 1.3PP y-o-y) Total capital ratio: fully loaded 16.8% (up 1.7PP y-o-y); transitional 17.4% (up 1.4PP y-o-y) Note: 2014 figures restated (explanatory notes shown on slide 35) 5

6 Positive Trends in most of our Markets Profit after tax (EUR mn) Core Non-Core Russia Serbia Ukraine Slovakia Bosnia & Herzeg (398) Croatia Belarus Bulgaria Albania Czech Republic Kosovo Slovenia Romania Hungary Poland (85) (290) (11) (15) (25) Strong contribution from Russian operations supported by non-recurring gain (sale of Russian pension fund business) Strongest growth in loans seen in: - Czech Republic - Slovakia - Romania Significant improvement in Hungary with positive contribution in 2015 Ukraine benefitting from substantially lower loan loss provisions Underlying performance in Croatia positive while adversely impacted by nonrecurring items (CHF conversion) 6

7 Route to Target CET1 ratio (fully loaded) 0.2% 0.2% 0.2% Other Ukraine Russia (1.0)% 0.5% Asia & US (0.8)% 2.4% 0.3% Raiffeisen Leasing Poland (1.0)% > 12% Excluding >12.0% retained earnings 1.0% Raiffeisen Polbank (0.8)% 0.5% 11.5% 1.3% 0.1% 0.1% 0.1% 0.2% 0.2% 0.1% Asia & US Hungary (0.1)% Ukraine Russia Securitization Group Corporate/Markets (0.1)% (0.1)% 10.0% 0.4% Other End 2014 RWA relief Regulatory & other effects FX effect Business growth Profit End 2015 RWA relief Business growth (EUR 4.2 bn) Regulatory & other effects (EUR 3.7 bn) End 2017 Note: FX effect including capital hedge; RWA relief displayed without effects of potential sales prices 7

8 Transformation Program Update Targets FY 2014 FY 2015 Progress Update 2017 >12% CET1 ratio (fully loaded) >16% Total capital ratio (fully loaded) 2017 RWA reduction to support CET1 target Post Transformation 10.0% 15.1% EUR 69 bn EUR 3,024 mn 11.5% 16.8% EUR 63 bn EUR 2,914 mn Poland: Sales process continues Framework for CHF separation to be agreed with regulator Timeline for sale/ipo dependent on market conditions Zuno: Sale/Integration Sale to Alfa Banking Group will not be concluded Various options currently under evaluation Slovenia: Exit country Sales contract signed, closing expected in H Asia: Rescaling underway RWA down 49% y-o-y US: Winding down operations Wind down ongoing Russia: Resizing of footprint Sale of Russian pension fund business Exit of car financing business Branch optimization completed (down 26 or 12.3% to 186 y-o-y) with reduction of presence from 65 to 44 cities Hungary: Repositioning Rightsizing of branch network completed (down 42 or 36.8% to 72 y-o-y) ~20% reduction of cost base vs 2014 Ukraine: Major restructuring Significant exposure reduction achieved Reduction of branch network (down 93 or 13.9% to 578) and centralization of functions EBRD equity participation completed 8

9 Robust Performance in Russia Business Development and Environment Solid profit after tax contribution of EUR 387 mn, thereof EUR 69 mn due to sale of pension fund business NIM remains well above 5% Elevated provisioning ratio of 2.14% Stable NPL coverage ratio of 75.6% (vs 74.1% end 2014) EUR 479 mn in dividends received in 2015 High FX volatility; recession continues Central Bank decreased minimum total capital requirement from 10% to 8% Focus in Corporates on crisis resilient sectors such as multinationals, food, retail or exporters Focus in Retail on new business from existing payroll customers and employees of large corporations Further optimization and centralization of branch network and back office operations Steadily increasing customer base despite closure of 26 branches due to strong brand and effective campaigns Successful repricing of liabilities given strong liquidity position Effective capital hedging Management Actions Key Figure Overview (in EUR mn) FY 2015 FY 2014 Risk-weighted assets (total) 7,687 8,372 Total assets 10,676 12,442 Employees 7,635 8,252 Intercompany funding* NPL ratio 8.0% 5.9% Profit/loss after tax *) ~30% of funding exposure covered by political risk insurance 9

10 Portfolio Facts & Figures: Russia Products & Segments Out of EUR 7.7 bn total RWA, Credit RWA amount to EUR 6.2 bn, of which EUR 4.7 bn (61%) are in the Corporate and EUR 1.4 bn (19%) in the Retail business Balance sheet dominated by the loan book (80% of the RWA): in the Corporate business 10% of lending is to the energy sector; personal loans in RUB make up 52% of the Retail portfolio Breakdown of Total RWA Operational 16% Market 3% Retail 19% Corporates 61% Tenors & Currencies 78% of the portfolio RWA have a maturity of 5 years or less, driven by short term Corporate loans and Retail personal and car loans Retail portfolio mostly in RUB at fixed interest rates, USD share 5% (EUR 88 mn); in Corporates about 58% is denominated in USD, predominantly naturally hedged exporters 3,000 2,000 1,000 0 Maturity Profile TBU <3M 3M-1Y 1Y-2Y 2Y-5Y >5Y RUB USD EUR others NPL and Coverage Ratio Asset Quality Coverage ratio of 75.6% NPL volume EUR 0.6 bn (NPL ratio of 8.0%) Net provisioning for impairment losses of EUR 0.2 bn in 2015 EUR mn % 92% % 80% 40% 8% 9% 0% Corporates Retail NPL stock Coverage ratio NPL ratio Note: All data as per 31 Dec

11 Headwinds in Poland Business Development and Environment Decreased revenues due to historically low interest rates NPL coverage ratio increased to 65.4% while absolute NPL volume decreased compared to FY 2014 Increased costs triggered by regulatory framework Continued strong GDP growth in 2015 Unemployment rate continues to fall Future profitability of banks is expected to decline primarily due to regulatory and fiscal actions Market consolidation expected to be driven by introduction of high bank levy Management Actions 80,000 new customers acquired in Retail due to brand re-positioning and multi-channel distribution Profitability in Corporate business increased y-o-y despite lower volumes and declined market share Increasingly higher revenue generation from new product sales and more active new customers in Retail Continuous shift towards high margin products to mitigate very low interest rate level Leading bank in factoring with #2 position at end 2015 Cost-cutting program kicked-off to increase efficiency, branch closures planned in 2016 Key Figure Overview (in EUR mn) FY 2015 FY 2014 Risk-weighted assets (total) 8,037 7,744 Total assets 14,504 13,729 Employees 5,128 5,462 Intercompany funding 2,283 2,612 NPL ratio 7.6% 8.8% Profit/loss after tax

12 Regulatory Topics in Poland Introduction of bank levy Bank levy of 44 bps charged from Feb 2016 onwards Base is total assets excluding own funds, Polish state treasury bills, and selected assets 2016 impact on RBI estimated EUR ~40 mn CHF conversion proposal Presidential proposal currently reviewed by Polish regulators Critical comments issued by National Bank of Poland and rating agencies Separation of CHF portfolio Following CHF conversion discussion, decision taken to separate CHF portfolio Framework to be agreed with regulator IPO of Polish unit Commitment to Polish regulator entails an IPO of Raiffeisen Polbank by mid-2016 of at least 15% IPO subject to market environment 12

13 Macro Outlook Development of Real GDP (%) Country f 2017f CE Czech Republic Hungary Poland Slovakia Slovenia CE SEE Albania Bosnia & Herz Bulgaria Croatia (0.4) Kosovo Romania Serbia (1.8) SEE EE Belarus 1.6 (4.0) (2.0) 1.5 Russia 0.7 (3.7) (2.0) 1.5 Ukraine (6.8) (10.0) EE 0.3 (4.1) (1.8) 1.6 Austria Germany Eurozone Source: RBI/Raiffeisen Research as of 29 th February 2016 General Market Trends Euro area recovery offers upside for CE/SEE: Supportive monetary policy inside the euro area and CE/SEE to continue into 2016/17; CE/SEE less hit by recent market turmoil compared to other emerging market regions Healthy growth in CE: Well-balanced GDP growth in Czech Republic, Slovakia, Hungary, possibly overly expansionary policies in Poland More broad based recovery in SEE: Strong growth in Romania, modest deterioration of fiscal and current account deficit from low levels not an alarming sign; Bulgaria is catching up, Croatia and Serbia to overcome recession in 2016 Russia: Tentative stabilization seen in H challenged by oil/rub setback, recession continues into 2016, consumption and investments to drop by 4% y-o-y; focus on stability-oriented policies to prevail, while starting position in terms of needed adjustments encouraging compared to some other major commodity exporters Ukraine: Bottoming out following deep adjustment recession; stronger recovery capped by domestic political uncertainties. IMF cooperation and gradual reforming likely to continue despite delays in meeting benchmarks 13

14 Outlook and Targets We target acet1ratio(fullyloaded) ofatleast12% and atotalcapitalratio(fullyloaded) ofatleast16% by theendof2017. After the implementation of the strategic measures defined at the beginning of 2015, the cost base should be approximately 20% below the level of 2014 (general administrative expenses 2014: EUR 3,024 mn). We aim for areturnonequitybeforetaxofapproximately14% and aconsolidatedreturnonequity of approximately 11% in the medium term. We further aim to achieve acost/incomeratio ofbetween50and55% in the medium term. We expectnetprovisioningforimpairmentlosses for 2016 to bebelow the levelof2015 (EUR 1,264 mn). General administrative expenses for 2016 should be slightly below the level of the previous year (2015: EUR 2,914 mn). 14

15 Table of Contents Executive Summary Financials Risk Management Appendix

16 Q4/2015 Financial Highlights Net interest income of EUR 832 mn (up 2.2% q-o-q) Net trading income of EUR 29 mn (up EUR 43 mn q-o-q) General administrative expenses of EUR 813 mn (up 14.0% q-o-q) Profitability Net provisioning for impairment losses increased to EUR 469 mn (up EUR 278 mn q-o-q) predominantly related to Asian business Profit before tax of EUR 3 mn (down EUR 250 mn q-o-q) Loss after tax of EUR 81 mn (vs profit of EUR 201 mn in Q3/2015) Consolidated loss of EUR 83 mn (vs profit of EUR 186 mn in Q3/2015) NPL ratio decreased to 11.9% (down 0.3PP q-o-q) Asset Quality NPL coverage ratio at 71.3% (up 4.4PP q-o-q) Loans to customers decreased to EUR 69.9 bn (down 4.6% q-o-q) Regulatory Capital Ratios Common equity tier 1 ratio: fully loaded 11.5% (up 0.8PP q-o-q); transitional 12.1% (up 0.8PP q-o-q) Total capital ratio: fully loaded 16.8% (up 0.7PP q-o-q); transitional 17.4% (up 0.7PP q-o-q) 16

17 Development of Financial Ratios in FY 2015 RoE (Consolidated) and RoTE 1 Cost/Income Ratio 9.7% 10.8% 56.5% 61.8% 56.8% 57.4% 59.1% 6.6% 7.7% <0.0% 4.3% 7.0% 7.9% 4.8% 1 12/ / / / / / / / / /2015 RoE RoTE Net Interest Margin 1 Provisioning Ratio % 3.24% 2.94% 3.00% 2.99% 3.00% 1.30% 1.52% 1.35% 1.64% 1 12/ / / / / / / / / /2015 1) Annualized 17

18 FY 2015 Distribution of Profit before Tax in EUR mn (10.2)% 109.3% (14.6)% % 103 (263) (41.3)% 550 (343) (25.3)% Central Europe Southeastern Europe Eastern Europe Group Corporates Group Markets Non-Core Corporate Center 1 & Reconciliation Group Note: Percentage changes are y-o-y 1) Due to the mostly internal nature of Corporate Center, amount is netted with Reconciliation for illustration purposes 18

19 Overview of Key Financials in EUR mn Q4/2015 Q3/2015 q-o-q 1-12/ /2014 y-o-y Net interest income % 3,327 3,789 (12.2)% Net fee & commission income % 1,519 1,586 (4.2)% Net trading income 29 (14) 16 (30) Recurring other net operating income (45.3)% 66 5 >500.0% Operating income 1,269 1, % 4,929 5,350 (7.9)% General admin expenses (813) (713) 14.0% (2,914) (3,024) (3.6)% Staff expenses (381) (352) 8.3% (1,389) (1,450) (4.2)% Other admin expenses (314) (282) 11.3% (1,173) (1,193) (1.7)% - Hereof regulatory charges (35) (33) 8.1% (167) (104) 60.1% Depreciation (118) (79) 48.9% (351) (381) (7.8)% Operating result (9.4)% 2,015 2,326 (13.4)% Net provisioning for imp losses (469) (191) 145.9% (1,264) (1,750) (27.8)% Other results 16 (59) (40) (681) (94.1)% Net inc from derivatives (15) 20 (4) 88 Net inc fin investments (0) % Bank levies (26) (25) 1.0% (119) (177) (32.7)% Goodwill impairment (4) 0 (7) (399) (98.3)% Profit/loss before tax (98.9)% 711 (105) Consolidated profit/loss (83) (617) Net interest margin (%) 3.07% 2.98% 9BP 3.00% 3.24% (23)BP RoE (consolidated) (%) <0% 9.6% 4.8% <0% RoTE (%) <0% 12.9% 7.7% <0% Development (q-o-q) Net interest income up EUR 18 mn driven by higher dividend income from shares in affiliated companies Net trading income up EUR 43 mn mainly from valuation of derivatives and securities in Poland and head office General administrative expenses up EUR 100 mn due to seasonal effects and brand impairment in Q4/2015 Provisioningup EUR 278 mn, mostly increased coverage for existing corporate cases in Asia and head office Other results up EUR 76 mn mainly due to charge for CHF loan conversion in Croatia (EUR 75 mn) in Q3/2015 and higher release of provisions for Settlement Act in Hungary (up EUR 25 mn) in Q4/2015 Development (y-o-y) Net interest income down EUR 462 mn, mostly FX driven lower net interest income in Russia and Ukraine; loan defaults in Asia and decline due to historically low market interest rate levels, volume decline in head office General administrative expenses down EUR 110 mn mainly driven by FX development and staff reduction offset by higher regulatory charges and transformation expenses Provisioningdown EUR 486 mn driven by lower individual loan loss provisions in most markets, especially in Ukraine and Hungary Other results up EUR 641 mn due to substantial nonrecurring effects in 2014: goodwill impairments (EUR 399 mn), expenses for Hungarian Settlement Act provision (EUR 251 mn vs release of EUR 67 mn in 2015); in 2015 allocation of charges mainly for CHF loan conversion in Croatia (EUR 77 mn) and lower result from derivatives and liabilities (credit spread valuation down EUR 169 mn) 19

20 Overview of Balance Sheet RBI Balance Sheet (Dec 2015) in EUR mn Dec 2015 Dec 2014 y-o-y Dec 2015 Sep 2015 q-o-q 19% 16% EUR 114 bn 11% 8% 7% Total assets 114, ,500 (5.8)% 114, ,197 (2.4)% Loans and adv to banks 10,837 15,573 (30.4)% 10,837 12,169 (10.9)% 56% 60% Loans and adv to customers 69,921 77,925 (10.3)% 69,921 73,284 (4.6)% Loans and advances to banks (net) Loans and advances to customers (net) Securities (including trading assets and investments in associates) Other assets 9% Assets 14% Liabilities Deposits from banks Deposits from customers Debt securities issued Other liabilities Equity and subordinated liabilities Deposits from banks 16,369 22,408 (27.0)% 16,369 18,534 (11.7)% Deposits from customers 68,991 66, % 68,991 68, % Equity 8,501 8, % 8,501 8,582 (0.9)% Assets Liabilities Loansand advances to customersdown EUR 8.0 bn y-o-y; decrease in corporate loan business (down EUR 6.1 bn) mainly in head office, Asia and Russia while loan growth in Czech Republic and Slovakia; retail business down EUR 0.3 bn (decrease in Russia due to exit from car finance and Hungary due to execution of Settlement Act while organic growth in Slovakia, Romania and Czech Republic); decrease of loans to sovereigns (down EUR 0.6 bn y-o-y) mainly in Hungary; repo business further down EUR 1.0 bn Interbank business down EUR 4.7 bn y-o-y as short-term business was reduced in favour of higher cash reserves Deposits from customersup EUR 2.9 bn; increase of retail deposits (up EUR 2.7 bn) mostly in Poland, Slovakia and Czech Republic partly offset by FX driven reduction in Ukraine; deposits from sovereigns up EUR 0.6 bn mainly in head office; decrease of corporate deposits (down EUR 0.5 bn) predominantly in Russia and Asia Deposits from banks down EUR 6.0 bn mainly from lower money market business (down EUR 2.2 bn y-o-y) in Asia and head office and from lower long-term financing (down EUR 2.2 bn y-o-y) in Russia and head office 20

21 Revenue Composition Split of Operating Income (in EUR mn) 1,218 (26) 1,326 1, ,216 1,269 (68) (62) 385 (14) Q4/2014 Q1/2015 Q2/2015 Q3/2015 Q4/2015 Net interest income Net fee and commission income Net trading income Recurring other net operating income Development (q-o-q) Net interest income up EUR 18 mn; NIM rose to 3.07% (up 9 bps) mainly driven by higher dividend income from shares in affiliated companies Net fee and commission income up EUR 6 mn; increase of payment transfer business mainly in Russia; higher income from sale of own and third party products in Poland and Hungary partially offset by lower income from other banking services mainly in head office and Hungary; volume and margin driven decrease of securities and FX and precious metals business primarily in Romania and Russia Net trading income up EUR 43 mn mainly triggered by interest-based business due to valuation gains on derivatives and securities in Poland and head office; decrease of currency-based business due to valuation losses in Poland, devaluation in Belarus and costs for capital hedging (up EUR 9 mn) Net Interest Margin 3.24% 3.00% 1-12/ /2015 Loan & Guarantee 13% Net Fee and Commission Income Other 19% Foreign currency 25% Payment transfers 42% Total 1-12/2015: EUR 1,519 mn Development (y-o-y) Net interest incomedown EUR 462 mn; strong decrease in EE due to currency devaluation; low market rates and repricing measures in many CE and SEE countries; lower income from loan volume decrease in Non-Core markets and head office Net fee and commission income down EUR 67 mn triggered by FX development mainly in payment transfer business (Russia and Ukraine); volume and margin driven decline of FX and precious metals business in Ukraine and Russia; decline of loan and guarantee business offset by securities business and other banking services Net trading income up EUR 46 mn mainly due to valuation gains on derivatives and securities in Russia and Czech Republic; decrease of currency-based business mainly from RUB dividend hedge (EUR 70 mn), expenses for capital hedge and valuation losses in head office; increase in Belarus and lower valuation loss on FX positions in Ukraine 21

22 Expense Base Breakdown Development of General Administrative Expenses (in EUR mn) Split of Other Administrative Expenses Communication 6% Legal and consulting 8% Other 22% Advertising 9% Deposit insurance 11% Office space 23% IT 22% Total 1-12/2015: EUR 1,173 mn Q4/2014 Q1/2015 Q2/2015 Q3/2015 Q4/2015 Staff expenses Other administrative expenses Depreciation Development (q-o-q) General administrative expenses up EUR 100 mn Staff expenses up EUR 29 mn driven by higher salaries and bonus accruals in head office, Russia and Slovakia while Poland recorded a release of provisions for loyalty program Other administrative expensesup EUR 32 mn mainly due to deposit insurance fees and Borrowers' Support Fund in Poland (up EUR 25 mn); higher advertising expenses in several countries (up EUR 16 mn); final resolution fund fee in head office lower than provisioned (down EUR 14 mn) and lower legal, advisory and consulting expenses Depreciation of tangible and intangible assets up EUR 39 mn mainly due to impairments for brand in Poland (EUR 21 mn) and for fixed assets in Ukraine, Russia and Slovakia Development (y-o-y) General administrative expenses down EUR 110 mn, strongly influenced by FX developments primarily in Russia and Ukraine Staff expenses down EUR 60 mn, mainly driven by release of bonus provisions (in total EUR 76 mn) and cost saving measures; reduction in Russia (down EUR 50 mn) and Ukraine (down EUR 34 mn) due to FX devaluation and lower number of staff; higher expenses due to salary increases in several markets and severance payments Other administrative expensesdown EUR 20 mn; FX impact partially offset by higher regulatory charges for resolution fund (EUR 41 mn) and deposit insurance (up EUR 21 mn) Depreciation of tangible and intangible assets down EUR 30 mn; brand impairment in Ukraine in 2014 of EUR 30 mn and in Poland of EUR 21 mn in 2015; further impairment in Ukraine for real estate (EUR 8 mn) and in Hungary for software (EUR 7 mn) and branch closures (EUR 5 mn) 22

23 Regulatory Capital Overview in EURmn Regulatory Capital Structure Dec 2015 Basel III Dec 2014 Basel III CET1 (before deductions) 8,034 7,777 Deduction items (363) (333) CET1 (after deductions) 7,671 7,444 Additional Tier 1 (after deductions) 0 0 Tier 1 (after deductions) 7,671 7,444 Tier 2 (after deductions) 3,316 3,526 Changes in Regulatory Capital (y-o-y) Common equity tier 1 ratio (transitional) of 12.1% (up 1.3 PP) and Common equity tier 1 ratio (fully loaded) of 11.5% (up 1.5 PP) due to lower RWA and higher CET 1 Common equity tier 1 capital up EUR 227 mn to EUR 7,671 mn; increase mainly resulting from recognition FY 2015 profit, partially offset by currency devaluation (EUR 194 mn predominantly from RUB, BYR and UAH) and transitional rules for 2015 RWA decreased by EUR 5,449 mn primarily driven by credit risk EUR 5,589 mn (volume decrease, new securitizations, decreased retail business in Hungary and Russia, partially offset by third country derecognition of Bosnia & Herzegovina and Serbia, USD and CHF appreciation, rating downgrade of Russia and Belarus); market risk down EUR 161 mn; operational risk up EUR 301 mn Leverage ratio (fully loaded) of 5.4% (transitional: 5.6%) Total capital 10,987 10,970 RWA (total) 63,272 68,721 CET 1 ratio (transitional) 12.1% 10.8% 12.1% Common Equity Tier 1 Ratio (31 Dec 2015) 0.1% (0.5)% (0.2)% (0.1)% 11.5% CET 1 ratio (fully loaded) 11.5% 10.0% Tier 1 ratio (transitional) 12.1% 10.8% Total capital ratio (transitional) 17.4% 16.0% Total capital ratio (fully loaded) 16.8% 15.1% Transitional Intangible assets Excess minority capital AfS Fully loaded 23

24 RWA Reduction Path in 2015 RWA development 2015 (in EUR bn) (0.3) (8.0) End 2014 RWA relief Regulatory & other effects FX effect Business growth End 2015 RWA relief mainly due to volume reduction in Asia & US, Hungary, Ukraine, Russia, Group Corporates segment, and Group Markets segment 24

25 Funding Overview Subordinated Short-term liabilities funding 4% 11% Medium & long-term funding 13% Funding Structure (Dec 2015) Customer deposits 71% Total: EUR 97 bn Loan/deposit ratio 112% 116% 115% 111% 107% 107% 105% 98% 92% Dec 13 Mar 14 Jun 14 Sep 14 Dec 14 Mar 15 Jun 15 Sep 15 Dec 15 Overview 2015 Funding Plan Considerably lower wholesale funding demand as a result of strategic volume reduction Funding mix dominated by 71% share of customer deposits (up 7.1PP y-o-y) Loan/deposit ratio further improved by 14PP y-o-y to 92% partly due to lower loan volume Customer deposits increased by 4.4% y-o-y to EUR 69.0 bn mostly due to retail (up in Poland, Slovakia, Czech Republic and Romania), high stickiness despite historically low interest rates in most markets Diversification of wholesale funding continues and focus is on private placements and local markets Wholesale funding of EUR 2.2 bn was procured in 2015, approx. EUR 2 bn demand anticipated in

26 Table of Contents Executive Summary Financials Risk Management Appendix

27 Diversified Risk Profile Risk Buffer 5% Market Risk 6% Operational Risk 12% Economic Capital Corporates 29% Comments Risk-adjusted return on Economic Capital askey group steering measure Total Economic Capital requirement of EUR 5.5 bn, reduced by EUR 1.9 bn y-o-y due to decreased volatility in FX rates and exposure reduction 62% of Economic Capital is consumed by Credit Risk Other 16% Credit Risk Credit Risk decreased by EUR 0.7 bn during 2015 mainly due to exposure reductions in several countries Market Risk decreased strongly by EUR 1 bn y-o-y, given high FX rate volatilities at end 2014 (mainly in RUB) Liquidity 0% Financial Institutions 3% Sovereigns 7% Retail 22% Other Risk includes participation risk, owned property risk and macroeconomic risk About 41% of the economic capital is distributed to Central Europe, followed by Southeastern Europe (22%), Austria (19%) and Eastern Europe (17%) 27

28 Portfolio Overview Exposure to Business Lines by Region at end of December 2015 (in EUR bn) Total: EUR 148 bn 50 23% 1% 26 32% 24 26% % 7% 22% 12% 32% 21% 6% 44% 40% % 42% 66% 10% 10% 48% 67% 24% 71% 18% Austria CE SEE Eastern Europe Other EU Asia RoW Corporates Retail Financial Institutions Sovereigns Highlights Portfolio structure dominated by the corporate portfolio held in all regions and forming the back-bone of RBI Group s business model; during 2015 the exposure decreased by EUR 9.3 bn from EUR 83.5 bn to EUR 74.2 bn, mostly driven by loan portfolio reductions in Eastern Europe, Austria and Asia in line with transformation program The overall Retail portfolio decreased over the business year by EUR 0.8 bn to EUR 27.8 bn mainly triggered by Russia and Hungary after an initial increase in the first quarter. The share of foreign currency loans further decreased y-o-y from 31.5% to 28.7% The Financial Institutions portfolio decreased as well significantly, showing a reduction of EUR 4.4 bn from EUR 21.4 bn to EUR 17.0 bn due to a decrease in the repo and derivatives business and a partial shift into money market placements The Sovereign portfolio increased strongly by EUR 7.5 bn from EUR 21.8 bn to EUR 29.3 bn due to increased liquidity placements particularly in Austria 28

29 Oil and Gas Portfolio with limited Sector Exposure in Russia Split by industries (in EUR mn) Key facts Group wide exposure: EUR 4.96 bn of which EUR 2.41 bn on balance 1, Oil & Gas production & refining Storage, transportation & others 1, Oil & Gas trading 1,577 1, Integrated Oil & Gas Oil & Gas trading exposure geographically well diversified; risk uncorrelated with oil price Client base consists largely of blue chip companies often of national strategic importance Negligible exposure to shale oil/gas Short durations: 62% mature within 2 years, 94% within 5 years Off-balance exposure mainly in credit lines (EUR 1.5 bn) and letters of credit (EUR 538 mn) On balance Off balance Exposure in Russia: EUR 1.04 bn of which EUR 0.84 bn on balance Oil & Gas production & refining Storage, transportation & others On balance Oil & Gas trading 23 Off balance Oil & Gas production & refining customer base primarily blue chip companies Low exposure to Storage and Transportation Integrated Oil & Gas consists mainly of lending to national champions Short durations: 46% mature within 2 years, 88% within 5 years Limited concentrationwith none of the companies making up more than 15% of our portfolio, only 0.1% of the portfolio is in default Note: The figures on this slide have been prepared according to GICS (the Global Industry Classification Standard) which is used internally for steering purposes. As a result it reflects a different industry split to the NACE (Nomenclature generale des Activités économiques dans les Communautés Européennes) based figures which are reported in the FY 2015 report 53 Integrated Oil & Gas 29

30 RWA (Total) Overview Overview by Country 31/12/ 30/9/ Change 31/12/ Change in EUR mn (q-o-q) 2014 (y-o-y) Czech Republic 4,477 5,185 (13.7)% 5,113 (12.4)% Hungary 2,940 3,089 (4.9)% 4,060 (27.6)% Slovakia 5,493 5,676 (3.2)% 5, % Central Europe 12,910 13,951 (7.5)% 14,475 (10.8)% Albania 1,725 1, % 1, % Bosnia & Herzegovina 1,484 1,517 (2.2)% 1, % Bulgaria 1,775 1,818 (2.4)% 1,826 (2.8)% Croatia 2,966 3,135 (5.4)% 3,073 (3.5)% Kosovo (4.2)% 524 (9.8)% Romania 4,031 4,189 (3.8)% 4,140 (2.6)% Serbia 1,515 1,666 (9.1)% 1, % Southeastern Europe 13,968 14,523 (3.8)% 13, % Belarus 1,606 1,834 (12.4)% 1, % Kazakhstan 4 16 (72.7)% 27 (83.7)% Russia 7,687 8,684 (11.5)% 8,372 (8.2)% Ukraine 2,345 2,660 (11.9)% 3,047 (23.0)% Eastern Europe 11,642 13,194 (11.8)% 12,998 (10.4)% Group Corporates 8,590 8, % 9,106 (5.7)% Group Markets 3,781 4,370 (13.5)% 3,916 (3.5)% Corporate Center 14,777 16,378 (9.8)% 18,622 (20.6)% Asia 1,289 1,972 (34.7)% 2,528 (49.0)% Poland 8,037 8,517 (5.6)% 7, % Slovenia (25.5)% 486 (36.2)% USA (7.3)% 1,013 (17.5)% Zuno % % Non-Core 10,611 11,946 (11.2)% 11,829 (10.3)% Reconciliation (13,007) (15,610) (16.7)% (15,966) (18.5)% Total RBI Group 63,272 67,195 (5.8)% 68,721 (7.9)% Decrease of RWA mainly driven by Comments (y-o-y) Credit risk RWA: decrease of EUR 5,589 mn non-retail RWA down EUR 4,460 mn due to exposure decrease in corporate, repo business, new securitization and devaluation of RUB, BYR and UAH, while increase due to third country derecognition of Bosnia & Herzegovina and Serbia, USD and CHF appreciation, rating downgrade in Belarus and Russia retail RWA down EUR 1,129 mn primarily from execution of Settlement Act in Hungary; decreased retail business especially car loans in Russia; CHF driven increase in Poland Market risk RWA: down EUR 161 mn Operational risk RWA: up EUR 301 mn RWA (Total) Split by Risk Category Market risk 5% Operational risk 14% Credit risk standard approach 35% Credit risk CVA risk 1% Total: EUR 63.3 bn Credit risk internal rating approach 46% 30

31 NPL Development NPLs as % of Customer Loans and NPL Coverage Ratio NPL Breakdown by Segment (31 Dec 2015) 67% 66% 67% 67% 71% 75% 72% 86% 57% 82% 62% 11.4% 11.9% 12.0% 12.2% 11.9% 7.1% 12.1% 18.9% 9.4% 5.7% 15.4% Dec 14 Mar 15 Jun 15 Sep 15 Dec 15 CE SEE EE Group Corporates Group Markets 1) Non-Core NPLs as % of customer loans Coverage ratio NPLs as % of customer loans 1) Including exposure to banks Coverage ratio 11.4% NPL ratio Dec 14 NPL Ratio Development in 1-12/ % FX effects 1.3% Loan volume change (1.1)% Organic changes 11.9% NPL ratio Dec 15 NPLs of EUR 8,328 mn (down EUR 548 mn y-o-y, thereof minus EUR 760 mn organic change) FX impact of EUR 212 mn y-o-y, mainly from USD and CHF revaluation; BYR, UAH and RUB devaluation NPL allocation (y-o-y net of FX effects) mainly from Asia (up EUR 161 mn), Russia (up EUR 54 mn) and Croatia (up EUR 29 mn) Main NPL release (y-o-y net of FX effects) in Hungary (down EUR 539 mn mostly due to Settlement Act), Poland (down EUR 139 mn), Bulgaria (down EUR 90 mn), Romania and Slovenia (down EUR 77 mn each) and Czech Republic (down EUR 58 mn) NPL ratio up 0.5PP to 11.9% y-o-y; highest increase in Eastern Europe with 4.4PP and Non-Core with 3.2PP; decrease in Central Europe of 3.3PP NPL coverage ratioup 3.8PP to 71.3% y-o-y driven by Group Corporates (up 6.4PP) and Non-Core (up 4.6PP) 31

32 Provisioning Quarterly Change in NPL Stock (in EUR mn) 8% (2)% (4)% (5)% 729 (328) (202) (469) (7)% (606) Loan loss provisioning decreased by 27.8% or EUR 486 mn y-o-y but remained at an elevated level at EUR 1,264 mn Main y-o-y developments lower individual loan loss provisioning (down EUR 542 mn) and portfolio-based loan loss provisioning nearly flat (down EUR 2 mn) while income from sale of loans down EUR 57 mn Q4/2014 Q1/2015 Q2/2015 Q3/2015 Q4/2015 Absolute NPL net change Relative NPL net change 1) Relative to NPLs recorded at previous end of period; NPLs at the end of Q4/2015 EUR 8,328 mn Development of Provisioning Ratio 3.33% 2.52% 2.62% % % 1.02% Q3/2014 Q4/2014 Q1/2015 Q2/2015 Q3/2015 Q4/2015 Net provisioning for impairment losses in EUR mn Net provisioning ratio (q-o-q) (average customer loans) 1 The loan loss provisioning of EUR 1,264 mn mainly derives from EUR 887 mn corporate and EUR 407 mn retail provisioning but EUR 22 mn lower general government provisioning Individual loan loss provisioning down EUR 542 mn y-o-y mainly driven by Ukraine (down EUR 317 mn), Hungary (down EUR 64 mn), Group Corporates (down EUR 55 mn), Czech Republic (down EUR 34 mn) and almost all SEE countries (down EUR 98 mn) while increases recorded in Russia (up EUR 57 mn) and Belarus (up EUR 14 mn) Portfolio-based loan loss provisioning down EUR 2 mn; decreases were recorded in Russia (down EUR 48 mn), Asia (down EUR 16 mn), Poland (down EUR 10 mn) and Hungary (down EUR 9 mn) partly offset by Czech Republic (up EUR 34 mn), head office (up EUR 16 mn), Bulgaria (up EUR 14 mn) and Romania (up EUR 12 mn) 32

33 Breakdown CHF Loan Exposures CHF Loan Exposures (31 Dec 2015, in EUR mn) CHF NPL Ratio & NPL Coverage Ratio (31 Dec 2015) 2, % % 48.2% 49.6% 69.4% 35.6% % 17.7% 16.5% 18.7% Poland Romania Croatia Serbia Hungary Poland Romania Croatia Serbia Hungary NPL Ratio NPL Coverage Ratio Poland, Romania, Croatia, Serbia: CHF Exposure predominantly in Retail Vast majority of CHF loan portfolio conversion in Croatia expected in Q1/2016 EUR 77 mn charge for mandatory CHF loan conversion in Croatia booked in FY 2015 Remaining exposure in Hungary predominantly corporate CHF positions virtually all hedged (either match-funded or swapped) 33

34 Table of Contents Executive Summary Financials Risk Management Appendix

35 Restatement of 2014 Financial Results in EUR mn 2014 restated Restatements 2014 published Net interest income Net fee and commission income Net trading income (30) 0 (30) Recurring other net operating income 1 5 (5) 10 Operating income (5) Staff expenses (1.450) 0 (1.450) Other administrative expenses (1.193) 0 (1.193) Depreciation (381) 0 (381) General administrative expenses (3.024) 0 (3.024) Operating result (5) Net provisioning for impairment losses (1.750) (34) (1.716) Other results 1 (681) (88) (593) Profit/loss before tax (105) (128) 23 Income taxes (483) 3 (486) Profit/loss after tax (587) (124) (463) Profit attributable to non-controlling interests (30) 0 (30) Consolidated profit/loss (617) (124) (493) Total Equity 8,178 (124) 8,302 Earnings per share (2.17) (0.44) (1.73) NPL Ratio 11.4% 0.0PP 11.3% Provisioning Ratio 2.17% 4BP 2.13% NPL Coverage Ratio 67.5% 0.1PP 67.4% CET 1 Ratio (transitional) 10.8% 0.0PP 10.9% Effect of Restatement In 2015, RBI underwent a routine regulatory examination by the Austrian Financial Reporting Enforcement Panel covering RBI s 2014 consolidated financial statements and its 2015 semi-annual report For 2014, there were findings in the total amount of EUR 124 mn which consist of two factors: EUR 93 mn goodwill impairment relating to Raiffeisen Polbank and EUR 34 mn in net provisioning costs, also resulting in deferred tax income of EUR 3 mn This restatement is mainly a reallocation of charges in the amount of EUR 124 mn increasing the 2014 consolidated loss to EUR 617 mn; otherwise these charges would have been booked in 2015 The impact of this restatement on the regulatory capital ratios is negligible 1) Note: Prior year figures adjusted due to change in allocation 35

36 Non-recurring Items FY 2015 Total pre tax effects of plus EUR 43 mn: Release of bonus provisions (plus EUR 76 mn booked in general administrative expenses) Given the decision not to pay out bonuses for the year 2014, there was a material write back under staff expenses in the amount of EUR 76 mn in Q2/2015 Regulatory effects in Hungary and Croatia (minus EUR 10 mn booked in other results) Settlement Act in Hungary: release of provisions for new government package; allocation of EUR 251 mn in 2014 vs release of EUR 67 mn in 2015 Croatia: provision for CHF loan conversion led to a pre-tax effect of EUR 77 mn Raiffeisen Polbank brand impairment (minus EUR 21 mn booked in general administrative expenses) Triggered by higher discount factor Remaining value of brand and customer stock of EUR 33 mn Sale of Russian pension fund business (plus EUR86 mn booked in other results) Sale of Russian pension fund business in Q4/2015 Transformation expenses (minus EUR 88 mn) Provision for assets held-for-sale for Slovenian Raiffeisen Bank of EUR 52 mn (booked in other results) Higher staff expenses from severance payments and retention bonus (EUR 14 mn) and branch closure expenses (EUR 19 mn) (both booked in general administrative expenses) and DTA impairment EUR 3 mn (booked in income taxes) 36

37 Portfolio Overview Asia and Eastern Europe Breakdown of Portfolios in Selected Markets by Customer Segment (as of 31 Dec 2015) EUR mn China/ Hong Kong Singapore/ Indonesia Russia Ukraine Exposure 1 1,813 2,043 12,403 3,455 - Corporate loans 493 1,542 5,412 1,709 - Corporate off-balance , Corporate other thereof Corporate non-performing loans Retail 0 0 2,665 1,027 - thereof Retail non-performing loans FI & Sovereign , Total stock of provisions ,171 Asian portfolio characterized by short term lending and trade finance with corporates in the Materials and Energy industries: 83% of the exposure runs off within two years; FI exposure (EUR 563 mn) mainly to large Chinese banks; in 2015 the Asian portfolio decreased by EUR 2 bn (from EUR 5.9 bn at end 2014), driven by reductions in all segments and countries, with the largest effect from Corporate loans (reduction of EUR 996 mn) Russian corporate loan book well diversified across industries (17% to the energy sector); Retail portfolio almost exclusively in RUB (94%) and consists to a large part of personal loans (41%), mortgages (23%) and credit cards (22%) Ukrainian portfolio is driven by short term Corporate lending, of which approx. 43% is to producers of non-cyclical consumer goods, and Retail mortgage loans (67% of the retail portfolio) Note: 1) Total exposure to the respective country of risk, irrespective of where it is booked 37

38 Geographic Footprint Central Europe (CE) Southeastern Europe (SEE) Austria, #3 Loans: 19.7 bn Customers: 11,805 Business Outlets: 3 Eastern Europe (EE) Non-Core Slovenia, #14 Loans: 0.4 bn Customers: 56,736 Business Outlets: 14 Poland, #9 Loans: 9.7 bn Customers: 733,392 Business Outlets: 357 Russia, #11 Loans: 7.0 bn Customers: 3,001,811 Business Outlets: 186 Belarus, #6 Loans: 0.9 bn Customers: 752,363 Business Outlets: 97 Leading regional player with CEE presence of over 25 years Hungary, #3* Loans: 3.5 bn Customers: 533,010 Business Outlets: 72 Slovakia, #3 Ukraine, #7 Loans: 2.2 bn Customers: 2,782,366 Business Outlets: 578 Romania, #5 Covering 16 markets (incl. Austria), thereof nine are EU members and Serbia has candidate status Loans: 8.2 bn Customers: 819,336 Business Outlets: 195 Loans: 4.5 bn Customers: 2,130,125 Business Outlets: 512 Top 5 market position in 10 countries Czech Republic, #5 Bulgaria, #6 Loans: 7.1 bn Customers: 408,129 Business Outlets: 128 Croatia, #5 Bosnia & Herzeg., #2* Albania, #1 Kosovo, #1 Loans: 2.1 bn Customers: 775,879 Business Outlets: 149 Serbia, #5 Strong market position with Austrian corporates focusing on CEE Loans: 2.9 bn Loans: 1.2 bn Loans: 0.8 bn Loans: 0.5 bn Loans: 1.1 bn Customers: 455,912 Customers: 493,192 Customers: 735,743 Customers: 283,552 Customers: 665,946 Business Outlets: 78 Business Outlets: 97 Business Outlets: 91 Business Outlets: 52 Business Outlets: 85 Note: Position based on loans and advances to customers as of Q3/2015. All loan data in EUR. Additionally, RBI operates leasing units in Moldova and Kazakhstan. * Ranking data as of Q2/

39 Bank levies and resolution fund Impact on RBI FY 2014 (EUR mn) FY 2015 (EUR mn) FY 2016e (EUR mn) Austria Bank levy based on balance sheet total (excluding deriv ativ es) ~87 Hungary Bank levy introduced in autumn 2010; bank levy charge of EUR 21mn from 2014 released in ~20 Poland Bank levy of 0.44%, based on balance sheet total less 4 bn PLN flat amount, own funds and treasury securities - - ~40 Slovakia Bank levy of 0.4%, broadened to all deposits in July ~19 Total Bank levies ~166 Austria - 24 ~25 Croatia Based on balance sheet total less equity and - 2 ~2 Czech Republic unencumbered assets - - ~6 Bulgaria - 4 ~4 Full amounts to be booked in Q1/2016 Hungary - 3 ~4 Slovakia - 8 ~8 Total Resolution fund - 41 ~49 1) Majority of bank levies (EUR 49 mn) booked in Corporate Center; the remainder in Group Corporates (EUR 16 mn) and Group Markets (EUR 18 mn) 39

40 Country and Segment Overview 1-12/2015 Total Assets (EUR mn) Share of Total Assets 1 Loan/deposit ratio LLSFR 2 (network banks) Net Interest Margin Provisioning Ratio NPL Ratio NPL Coverage Ratio Czech Republic 9, % 100.7% 85.2% 2.80% 0.60% 4.7% 71.5% Hungary 6, % 69.5% 64.8% 2.01% 1.34% 19.7% 77.3% Slovakia 11, % 91.1% 79.5% 2.95% 0.47% 3.8% 75.0% Central Europe 26, % 89.8% 2.67% 0.71% 7.1% 75.3% Albania 2, % 40.8% 39.1% 3.83% 3.44% 19.5% 61.5% Bosnia & Herzegovina 1, % 72.1% 64.3% 3.61% 0.72% 10.5% 63.4% Bulgaria 3, % 78.9% 66.6% 3.60% 1.51% 11.0% 67.3% Croatia 4, % 81.4% 68.5% 3.29% 1.17% 17.4% 72.1% Kosovo % 69.1% 62.8% 4.91% 0.33% 7.5% 59.5% Romania 7, % 79.2% 71.0% 3.95% 1.67% 8.7% 77.0% Serbia 1, % 67.6% 62.0% 4.81% 0.77% 12.3% 84.3% Southeastern Europe 22, % 73.0% 3.84% 1.44% 12.1% 71.6% Belarus 1, % 106.1% 82.0% 8.63% 2.56% 6.0% 89.7% Russia 10, % 90.4% 84.7% 5.42% 2.14% 8.0% 75.6% Ukraine 2, % 66.3% 54.0% 8.53% 8.76% 59.3% 90.7% Eastern Europe 3 14, % 88.0% 6.14% 3.54% 18.9% 86.4% Asia 2, % 2.76% 12.21% 46.8% 67.8% Poland 14, % 103.3% 80.0% 1.84% 0.44% 7.6% 65.4% Slovenia % 91.1% 59.4% 1.31% 2.89% 32.1% 60.0% USA % 3.56% 1.87% 9.5% 43.7% Non-Core 18, % 116.3% 2.01% 2.68% 15.4% 62.4% Group Corporates 13, % 107.1% 2.08% 0.94% 9.4% 56.7% Group Markets 13, % 46.6% 0.77% (0.24)% 5.7% 82.0% Corporate Center 27, % Total RBI Group 114, % 92.2% 3.00% 1.64% 11.9% 71.3% 1) Excludes reconciliation of EUR 22.2 bn 2) Loans to local stable funding ratio for network banks in respective countries 3) Includes Kazakhstan 40

41 Country Financials (CE) Czech Republic In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets 9,265 9, % 8,504 8,302 8,371 9,265 8, % Equity % % Loans and advances to customers 7,095 6, % 6,814 6,521 6,318 7,095 6, % - Hereof corporate % % 44.7% (0.0)PP 45.1% 44.7% 44.5% 44.7% 44.5% 0.2PP - Hereof retail % % 54.7% 0.1PP 54.2% 54.7% 54.9% 54.7% 54.9% (0.2)PP - Hereof FCY % 14.8% 13.8% 1.0PP 13.3% 12.4% 12.9% 14.8% 12.9% 1.9PP Deposits from customers 6,807 6, % 6,160 5,840 5,957 6,807 5, % Operating income % % - Net interest income (4.0)% % - Net fee and commission income % (2.4)% - Net trading income 4 (8) 12 5 (3) 12 (5) - Recurring other net operating income 3 6 (40.9)% % Net provisioning for impairment losses (16) (6) 172.1% (16) (3) (10) (41) (40) 0.5% General administrative expenses (51) (51) (0.2)% (44) (49) (52) (194) (198) (1.7)% Other results (0) 9 (7) (3) 2 (1) 8 Profit/loss before tax (29.0)% % Profit/loss after tax (25.4)% % Return on equity before tax % 16.2% (4.9)PP 15.4% 16.9% 10.8% 15.0% 14.2% 0.9PP Return on equity after tax 2 9.4% 12.9% (3.4)PP 12.2% 13.4% 8.6% 12.0% 11.4% 0.6PP Net interest margin 2.55% 2.80% (25)BP 2.98% 2.90% 2.95% 2.80% 3.12% (32)BP Loan/deposit ratio 100.7% 107.1% (6.4)PP 106.5% 107.4% 101.9% 100.7% 101.9% (1.2)PP Cost/income ratio 55.7% 62.2% (6.4)PP 44.3% 53.7% 65.1% 53.5% 59.5% (6.0)PP Business outlets % % Number of employees 2,753 2, % 2,708 2,725 2,706 2,753 2, % Number of customers 408, , % 396, , , , , % Provisioning ratio 0.89% 0.33% 55BP 0.97% 0.19% 0.63% 0.60% 0.66% (6)BP NPL ratio 4.7% 5.0% (29)BP 5.2% 5.5% 6.0% 4.7% 6.0% (132)BP NPL coverage ratio 71.5% 71.6% (0.1)PP 71.0% 68.2% 65.2% 71.5% 65.2% 6.3PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 41

42 Country Financials (CE) Hungary In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets 6,394 6, % 6,340 6,708 6,936 6,394 6,936 (7.8)% Equity % % Loans and advances to customers 3,481 3,541 (1.7)% 4,106 4,608 4,714 3,481 4,714 (26.2)% - Hereof corporate % % 65.0% 1.3PP 58.5% 55.7% 54.5% 66.3% 54.5% 11.9PP - Hereof retail % % 30.5% (1.4)PP 27.3% 31.8% 32.8% 29.1% 32.8% (3.7)PP - Hereof FCY % 37.5% 41.5% (3.9)PP 44.9% 43.5% 58.0% 37.5% 58.0% (20.5)PP Deposits from customers 4,233 3, % 3,908 4,082 4,276 4,233 4,276 (1.0)% Operating income (9.2)% (5.0)% - Net interest income (4.9)% (21.4)% - Net fee and commission income % % - Net trading income % (2) (9.7)% - Recurring other net operating income (13) (7) 86.3% (10) (8) (28) (38) (60) (36.6)% Net provisioning for impairment losses (12) (7) 73.4% (23) (14) (87) (56) (128) (56.6)% General administrative expenses (61) (44) 36.5% (48) (42) (57) (195) (188) 3.4% Other results % 40 (31) 4 49 (305) Profit/loss before tax 6 18 (69.0)% 16 (21) (94) 19 (389) Profit/loss after tax 5 18 (71.9)% 16 (21) (97) 18 (398) Return on equity before tax 2 4.7% 15.2% (10.5)PP 16.2% 4.4% Return on equity after tax 2 4.2% 15.2% (10.9)PP 16.2% 4.3% Net interest margin 1.89% 2.05% (16)BP 1.86% 2.26% 2.32% 2.01% 2.62% (61)BP Loan/deposit ratio 69.5% 74.4% (4.9)PP 87.9% 90.8% 88.3% 69.5% 88.3% (18.8)PP Cost/income ratio 75.6% 78.7% (3.0)PP 102.6% 63.5% 124.0% 88.5% 81.3% 7.2PP Business outlets % (36.8)% Number of employees 2,016 2,037 (1.0)% 2,123 2,234 2,298 2,016 2,298 (12.3)% Number of customers 533, ,817 (0.7)% 558, , , , ,052 (8.1)% Provisioning ratio 1.37% 0.72% 64BP 2.09% 1.17% 7.27% 1.34% 2.64% (130)BP NPL ratio 19.7% 23.1% (343)BP 21.7% 26.9% 25.7% 19.7% 25.7% (603)BP NPL coverage ratio 77.3% 72.4% 4.9PP 72.5% 72.6% 77.3% 77.3% 77.3% (0.0)PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 42

43 Country Financials (CE) Slovakia In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets 11,223 10, % 10,250 10,125 9,896 11,223 9, % Equity % 947 1,050 1, ,016 (2.0)% Loans and advances to customers 8,189 8, % 7,866 7,615 7,470 8,189 7, % - Hereof corporate % % 47.2% (0.4)PP 47.5% 47.3% 48.1% 46.8% 48.1% (1.3)PP - Hereof retail % % 52.7% 0.3PP 52.4% 52.5% 51.8% 53.0% 51.8% 1.2PP - Hereof FCY % 0.6% 0.9% (0.3)PP 0.9% 1.0% 1.2% 0.6% 1.2% (0.6)PP Deposits from customers 8,728 8, % 7,872 7,574 7,348 8,728 7, % Operating income % (1.1)% - Net interest income (0.0)% (5.3)% - Net fee and commission income % % - Net trading income 1 1 (41.5)% % - Recurring other net operating income % (3) (3) (1) (0) 1 Net provisioning for impairment losses (16) (13) 22.0% (3) (5) (20) (37) (53) (31.0)% General administrative expenses (74) (61) 21.8% (52) (59) (63) (247) (238) 3.7% Other results (5) (4) 12.7% (4) (4) 0 (18) (24) (27.5)% Profit/loss before tax (37.7)% % Profit/loss after tax (39.2)% % Return on equity before tax % 17.5% (6.7)PP 22.4% 19.0% 15.5% 17.4% 16.1% 1.3PP Return on equity after tax 2 8.0% 13.3% (5.2)PP 17.1% 14.4% 11.4% 13.1% 12.1% 1.0PP Net interest margin 2.84% 2.92% (9)BP 2.99% 3.04% 3.28% 2.95% 3.35% (40)BP Loan/deposit ratio 91.1% 95.0% (3.9)PP 96.9% 97.3% 98.4% 91.1% 98.4% (7.3)PP Cost/income ratio 62.5% 52.1% 10.3PP 45.9% 51.4% 52.8% 53.1% 50.6% 2.4PP Business outlets % % Number of employees 3,854 3, % 3,733 3,721 3,648 3,854 3, % Number of customers 819, , % 807, , , , , % Provisioning ratio 0.77% 0.64% 13BP 0.18% 0.26% 1.10% 0.47% 0.75% (28)BP NPL ratio 3.8% 4.2% (36)BP 4.4% 4.4% 4.5% 3.8% 4.5% (69)BP NPL coverage ratio 75.0% 73.6% 1.4PP 69.1% 71.4% 70.8% 75.0% 70.8% 4.2PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 43

44 Country Financials (SEE) Albania In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets 2,120 2, % 2,034 1,993 1,976 2,120 1, % Equity (7.8)% % Loans and advances to customers (4.6)% (7.2)% - Hereof corporate % % 69.3% (3.2)PP 71.5% 72.5% 71.0% 66.1% 71.0% (4.9)PP - Hereof retail % % 30.7% 3.2PP 28.5% 27.5% 29.0% 33.9% 29.0% 4.9PP - Hereof FCY % 60.2% 62.6% (2.4)PP 60.1% 61.3% 67.4% 60.2% 67.4% (7.2)PP Deposits from customers 1,799 1, % 1,699 1,686 1,669 1,799 1, % Operating income (19.2)% (18.4)% - Net interest income (1.6)% (12.2)% - Net fee and commission income 3 3 (10.7)% % - Net trading income % (16.2)% - Recurring other net operating income (6) (0) >500.0% 0 (0) 2 (6) 2 Net provisioning for impairment losses (18) (3) 478.3% (5) (5) (10) (31) (29) 6.5% General administrative expenses (13) (11) 20.6% (10) (10) (11) (45) (42) 6.8% Other results % 0 (0) >500.0% Profit/loss before tax (13) (62.1)% Profit/loss after tax (12) (62.8)% Return on equity before tax % 20.1% 16.8% 14.4% 7.1% 19.8% (12.6)PP Return on equity after tax % 18.0% 14.3% 12.8% 6.0% 16.8% (10.9)PP Net interest margin 3.46% 3.61% (15)BP 4.24% 4.09% 4.56% 3.83% 4.70% (87)BP Loan/deposit ratio 40.8% 44.2% (3.3)PP 48.5% 49.9% 48.0% 40.8% 48.0% (7.1)PP Cost/income ratio 74.3% 49.7% 24.5PP 39.9% 42.6% 39.2% 49.9% 38.1% 11.8PP Business outlets % (1.1)% Number of employees 1,349 1, % 1,327 1,327 1,326 1,349 1, % Number of customers 735, , % 714, , , , , % Provisioning ratio 8.48% 1.39% 709BP 2.15% 2.17% 4.62% 3.44% 3.23% 21BP NPL ratio 19.5% 19.2% 28BP 19.0% 19.4% 18.6% 19.5% 18.6% 83BP NPL coverage ratio 61.5% 55.2% 6.2PP 56.4% 55.3% 58.8% 61.5% 58.8% 2.6PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 44

45 Country Financials (SEE) Bosnia & Herz. In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets 1,947 1, % 1,922 1,931 1,944 1,947 1, % Equity % (0.9)% Loans and advances to customers 1,173 1, % 1,170 1,168 1,176 1,173 1,176 (0.3)% - Hereof corporate % % 31.9% (0.4)PP 32.4% 33.1% 34.1% 31.4% 34.1% (2.6)PP - Hereof retail % % 67.7% 0.4PP 67.2% 66.5% 65.5% 68.1% 65.5% 2.6PP - Hereof FCY % 69.8% 71.0% (1.2)PP 72.4% 73.6% 74.0% 69.8% 74.0% (4.2)PP Deposits from customers 1,519 1, % 1,484 1,498 1,503 1,519 1, % Operating income (2.0)% % - Net interest income % (4.1)% - Net fee and commission income % (0.1)% - Net trading income 0 1 (40.1)% % - Recurring other net operating income (1) (3) 1 (1) Net provisioning for impairment losses 0 (9) 2 (2) (10) (8) (16) (48.0)% General administrative expenses (19) (14) 28.1% (13) (13) (20) (59) (63) (5.5)% Other results % (1) (1) Profit/loss before tax % (6) % Profit/loss after tax % 14 9 (7) % Return on equity before tax % 4.7% 8.1PP 24.4% 15.7% 14.4% 9.5% 5.0PP Return on equity after tax % 4.3% 6.7PP 21.8% 13.9% 12.8% 8.0% 4.8PP Net interest margin 3.65% 3.56% 9BP 3.75% 3.52% 3.61% 3.61% 3.67% (6)BP Loan/deposit ratio 72.1% 72.3% (0.3)PP 73.2% 71.9% 72.5% 72.1% 72.5% (0.4)PP Cost/income ratio 72.7% 55.6% 17.1PP 49.0% 51.6% 83.7% 57.1% 60.5% (3.4)PP Business outlets % % Number of employees 1,311 1,353 (3.1)% 1,374 1,390 1,434 1,311 1,434 (8.6)% Number of customers 493, , % 492, , , , ,973 (1.4)% Provisioning ratio (0.10)% 3.08% (318)BP (0.79)% 0.68% 3.46% 0.72% 1.34% (63)BP NPL ratio 10.5% 11.7% (117)BP 12.4% 13.6% 13.1% 10.5% 13.1% (254)BP NPL coverage ratio 63.4% 60.4% 3.0PP 57.3% 57.1% 56.7% 63.4% 56.7% 6.6PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 45

46 Country Financials (SEE) Bulgaria In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets 3,440 3, % 3,278 3,268 3,223 3,440 3, % Equity % (0.2)% Loans and advances to customers 2,083 2,100 (0.8)% 2,074 2,074 2,175 2,083 2,175 (4.2)% - Hereof corporate % % 40.9% 0.5PP 40.2% 40.5% 40.4% 41.4% 40.4% 1.0PP - Hereof retail % % 58.6% (0.5)PP 59.3% 59.0% 58.0% 58.0% 58.0% 0.0PP - Hereof FCY % 54.5% 56.4% (1.9)PP 58.0% 61.3% 61.5% 54.5% 61.5% (7.1)PP Deposits from customers 2,444 2, % 2,248 2,205 2,168 2,444 2, % Operating income (2.4)% (6.2)% - Net interest income (1.1)% (6.5)% - Net fee and commission income % % - Net trading income % (0) (47.4)% - Recurring other net operating income (1) 0 (0) 0 0 (0) 1 Net provisioning for impairment losses (15) 0 (11) (6) (9) (32) (52) (38.9)% General administrative expenses (27) (21) 31.7% (21) (20) (23) (90) (89) 0.3% Other results 0 0 >500.0% (2) (1) 0 (3) 0 Profit/loss before tax (3) % Profit/loss after tax (3) % Return on equity before tax % 6.3% 8.7% 9.7% 7.3% 5.9% 1.4PP Return on equity after tax % 5.7% 7.7% 8.8% 6.6% 5.3% 1.3PP Net interest margin 3.37% 3.49% (12)BP 4.04% 3.52% 3.99% 3.60% 4.00% (41)BP Loan/deposit ratio 78.9% 81.8% (2.9)PP 84.5% 86.4% 91.3% 78.9% 91.3% (12.4)PP Cost/income ratio 70.3% 52.1% 18.2PP 51.1% 53.6% 53.8% 56.7% 53.0% 3.7PP Business outlets (2.6)% (4.5)% Number of employees 2,546 2,629 (3.2)% 2,659 2,699 2,751 2,546 2,751 (7.5)% Number of customers 775, , % 767, , , , , % Provisioning ratio 2.81% (0.01)% 283BP 2.07% 1.18% 1.57% 1.51% 2.20% (69)BP NPL ratio 11.0% 13.0% (193)BP 14.0% 14.7% 14.7% 11.0% 14.7% (368)BP NPL coverage ratio 67.3% 61.9% 5.4PP 59.8% 55.3% 53.9% 67.3% 53.9% 13.4PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 46

47 Country Financials (SEE) Croatia In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets 4,616 4,675 (1.3)% 4,592 4,694 4,647 4,616 4,647 (0.7)% Equity % (12.3)% Loans and advances to customers 2,939 3,019 (2.7)% 3,071 3,232 3,200 2,939 3,200 (8.2)% - Hereof corporate % % 38.8% 0.4PP 39.4% 38.4% 41.2% 39.1% 41.2% (2.1)PP - Hereof retail % % 57.2% 0.7PP 57.6% 54.8% 54.4% 57.9% 54.4% 3.5PP - Hereof FCY % 61.1% 61.0% 0.1PP 56.9% 58.3% 64.9% 61.1% 64.9% (3.7)PP Deposits from customers 3,191 3, % 3,083 3,142 3,128 3,191 3, % Operating income (7.3)% (5.1)% - Net interest income (3.1)% (10.2)% - Net fee and commission income (14.7)% % - Net trading income % (21.6)% - Recurring other net operating income 3 5 (41.5)% 6 3 (1) (0.5)% Net provisioning for impairment losses (6) (13) (52.8)% (10) (6) (15) (36) (50) (27.7)% General administrative expenses (35) (34) 1.4% (30) (31) (33) (130) (130) 0.3% Other results (1) (76) (98.9)% (0) (3) (1) (80) 7 Profit/loss before tax 15 (62) (14) 72 Profit/loss after tax 10 (48) (11) 61 Return on equity before tax 2 9.4% 11.1% 8.8% 3.5% 10.8% Return on equity after tax 2 6.4% 8.5% 7.4% 4.1% 9.2% Net interest margin 3.19% 3.27% (7)BP 3.25% 3.45% 3.54% 3.29% 3.71% (42)BP Loan/deposit ratio 81.4% 84.7% (3.3)PP 87.8% 92.8% 92.3% 81.4% 92.3% (10.9)PP Cost/income ratio 61.4% 56.2% 5.3PP 51.2% 55.7% 60.8% 56.1% 53.0% 3.0PP Business outlets % % Number of employees 2,133 2,145 (0.6)% 2,152 2,171 2,127 2,133 2, % Number of customers 455, , % 449, , , , ,552 (1.6)% Provisioning ratio 0.85% 1.77% (91)BP 1.28% 0.79% 1.84% 1.17% 1.49% (33)BP NPL ratio 17.4% 17.7% (36)BP 15.4% 14.5% 14.8% 17.4% 14.8% 258BP NPL coverage ratio 72.1% 70.6% 1.5PP 77.6% 76.2% 73.2% 72.1% 73.2% (1.1)PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 47

48 Country Financials (SEE) Kosovo In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets % % Equity % % Loans and advances to customers (0.3)% % - Hereof corporate % % 38.7% (1.0)PP 38.0% 39.9% 39.4% 37.7% 39.4% (1.7)PP - Hereof retail % % 61.3% 1.0PP 62.0% 60.1% 60.6% 62.3% 60.6% 1.7PP - Hereof FCY % 0.0% 0.0% 0.0PP 0.0% 0.0% 0.0% 0.0% 0.0% 0.0PP Deposits from customers % % Operating income (0.3)% % - Net interest income (0.1)% % - Net fee and commission income % % - Net trading income % >500.0% - Recurring other net operating income (0) 0 0 (0) (0) 0 (1) Net provisioning for impairment losses (1) (1) (22.7)% (0) 0 (2) (2) (3) (36.8)% General administrative expenses (8) (6) 33.8% (5) (6) (7) (26) (25) 3.7% Other results (0) (0) (27.3)% 0 0 (0) 0 (0) Profit/loss before tax 3 5 (40.1)% % Profit/loss after tax 3 4 (38.1)% % Return on equity before tax % 16.6% (5.9)PP 22.7% 23.0% 12.0% 18.4% 17.2% 1.2PP Return on equity after tax 2 9.9% 14.9% (5.0)PP 20.3% 20.4% 10.7% 16.5% 15.3% 1.2PP Net interest margin 4.62% 4.68% (6)BP 4.96% 5.50% 5.14% 4.91% 5.31% (39)BP Loan/deposit ratio 69.1% 71.0% (1.9)PP 74.0% 75.4% 76.7% 69.1% 76.7% (7.6)PP Cost/income ratio 69.7% 51.9% 17.8PP 44.2% 47.0% 59.2% 53.0% 54.3% (1.3)PP Business outlets (1.9)% % Number of employees (0.4)% % Number of customers 283, , % 276, , , , , % Provisioning ratio 0.55% 0.70% (16)BP 0.08% (0.01)% 1.37% 0.33% 0.54% (21)BP NPL ratio 7.5% 9.1% (156)BP 9.1% 10.1% 10.2% 7.5% 10.2% (266)BP NPL coverage ratio 59.5% 52.6% 6.8PP 51.1% 48.0% 48.5% 59.5% 48.5% 10.9PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 48

49 Das Bild kann zurzeit nicht angezeigt werden. Country Financials (SEE) Romania In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets 7,232 6, % 6,778 6,850 6,920 7,232 6, % Equity % % Loans and advances to customers 4,472 4, % 4,377 4,369 4,313 4,472 4, % - Hereof corporate % % 31.7% 0.9PP 32.4% 32.7% 33.3% 32.6% 33.3% (0.7)PP - Hereof retail % % 66.0% (0.9)PP 65.4% 64.8% 64.1% 65.1% 64.1% 1.0PP - Hereof FCY % 43.1% 44.0% (0.9)PP 46.0% 48.3% 49.7% 43.1% 49.7% (6.6)PP Deposits from customers 5,238 4, % 4,652 4,586 4,681 5,238 4, % Operating income (3.5)% (3.4)% - Net interest income (1.5)% (3.6)% - Net fee and commission income (2.6)% % - Net trading income 4 5 (5.7)% (8.9)% - Recurring other net operating income (6) (4) 33.9% (3) (0) 2 (14) 5 Net provisioning for impairment losses (27) (10) 182.2% (20) (17) (24) (74) (85) (13.3)% General administrative expenses (67) (65) 2.4% (64) (61) (73) (257) (266) (3.2)% Other results % (1) (57.4)% Profit/loss before tax (54.7)% (0.0)% Profit/loss after tax (58.4)% % Return on equity before tax % 25.4% (14.1)PP 17.7% 16.7% 13.6% 18.0% 18.6% (0.6)PP Return on equity after tax 2 8.7% 21.3% (12.6)PP 15.7% 14.0% 10.1% 15.1% 15.1% 0.0PP Net interest margin 3.83% 3.96% (13)BP 4.38% 3.70% 4.35% 3.95% 4.36% (41)BP Loan/deposit ratio 79.2% 85.6% (6.4)PP 87.8% 88.2% 85.1% 79.2% 85.1% (5.9)PP Cost/income ratio 60.5% 57.0% 3.5PP 55.3% 57.7% 63.8% 57.6% 57.5% 0.1PP Business outlets (0.6)% (3.2)% Number of employees 5,437 5,477 (0.7)% 5,434 5,201 5,292 5,437 5, % Number of customers 2,130,125 2,118, % 2,113,657 2,095,440 2,089,544 2,130,125 2,089, % Provisioning ratio 2.44% 0.87% 156BP 1.84% 1.53% 2.17% 1.67% 1.95% (28)BP NPL ratio 8.7% 9.2% (56)BP 9.5% 10.6% 10.7% 8.7% 10.7% (197)BP NPL coverage ratio 77.0% 71.9% 5.1PP 70.0% 70.1% 71.7% 77.0% 71.7% 5.3PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 49

50 Country Financials (SEE) Serbia In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets 1,948 1,962 (0.7)% 1,938 1,935 1,885 1,948 1, % Equity (8.1)% (0.6)% Loans and advances to customers 1,098 1, % 1,071 1,085 1,129 1,098 1,129 (2.7)% - Hereof corporate % % 49.5% 1.2PP 49.7% 50.1% 52.2% 50.7% 52.2% (1.5)PP - Hereof retail % % 49.5% (0.5)PP 49.3% 48.5% 46.7% 49.0% 46.7% 2.3PP - Hereof FCY % 64.1% 64.3% (0.2)PP 69.4% 69.2% 61.3% 64.1% 61.3% 2.8PP Deposits from customers 1,455 1, % 1,360 1,337 1,240 1,455 1, % Operating income (14.3)% (6.2)% - Net interest income (17.3)% (11.0)% - Net fee and commission income % % - Net trading income 0 1 (70.3)% % - Recurring other net operating income 1 1 (20.9)% (25.6)% Net provisioning for impairment losses 0 (6) 2 (5) (7) (8) (19) (56.8)% General administrative expenses (20) (18) 11.7% (17) (17) (22) (73) (74) (1.6)% Other results 0 0 (75.4)% (0) (4) (0) (4) (0) >500.0% Profit/loss before tax (9.6)% (0.5)% Profit/loss after tax (2.1)% % Return on equity before tax 2 9.8% 10.3% (0.5)PP 14.7% 6.9% 5.5% 10.4% 10.1% 0.4PP Return on equity after tax 2 9.6% 9.3% 0.3PP 12.9% 6.4% 4.9% 9.5% 9.0% 0.6PP Net interest margin 4.13% 5.08% (94)BP 5.03% 5.04% 5.23% 4.81% 5.52% (71)BP Loan/deposit ratio 67.6% 68.6% (1.0)PP 69.9% 71.9% 81.4% 67.6% 81.4% (13.8)PP Cost/income ratio 65.9% 50.6% 15.3PP 52.6% 51.1% 61.9% 54.7% 52.2% 2.6PP Business outlets % % Number of employees 1,550 1,558 (0.5)% 1,582 1,588 1,581 1,550 1,581 (2.0)% Number of customers 665, , % 649, , , , , % Provisioning ratio (0.18)% 2.09% (227)BP (0.57)% 1.73% 2.46% 0.77% 1.76% (99)BP NPL ratio 12.3% 13.5% (114)BP 13.4% 13.2% 12.9% 12.3% 12.9% (57)BP NPL coverage ratio 84.3% 83.2% 1.1PP 83.9% 86.3% 81.4% 84.3% 81.4% 2.9PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 50

51 Country Financials (EE) Belarus In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets 1,449 1,564 (7.3)% 1,638 1,616 1,536 1,449 1,536 (5.7)% Equity % (2.3)% Loans and advances to customers 915 1,003 (8.8)% 1,052 1,096 1, ,047 (12.6)% - Hereof corporate % % 74.6% (2.3)PP 73.0% 72.0% 69.6% 72.3% 69.6% 2.7PP - Hereof retail % % 25.4% 2.3PP 27.0% 28.0% 30.4% 27.7% 30.4% (2.7)PP - Hereof FCY % 70.7% 76.0% (5.4)PP 76.6% 73.7% 68.5% 70.7% 68.5% 2.1PP Deposits from customers (6.6)% (5.9)% Operating income (38.0)% % - Net interest income % % - Net fee and commission income (12.5)% (4.6)% - Net trading income 4 32 (88.3)% (0) - Recurring other net operating income (1) (1) (3.9)% (0) (0) (1) (2) (1) 31.0% Net provisioning for impairment losses (8) (6) 37.0% (9) (4) (5) (26) (9) 203.9% General administrative expenses (17) (18) (2.4)% (18) (19) (17) (73) (80) (9.3)% Other results 0 0 (23.4)% 0 (1) (0) (1) 2 Profit/loss before tax (57.8)% % Profit/loss after tax (60.5)% % Return on equity before tax % 91.5% (48.7)PP 47.0% 69.3% 35.6% 63.0% 34.2% 28.8PP Return on equity after tax % 68.9% (38.7)PP 36.2% 53.9% 19.6% 47.7% 23.7% 23.9PP Net interest margin 9.09% 8.31% 78BP 8.46% 8.97% 7.33% 8.63% 8.08% 56BP Loan/deposit ratio 106.1% 110.0% (3.9)PP 107.9% 123.2% 117.6% 106.1% 117.6% (11.5)PP Cost/income ratio 35.9% 22.8% 13.1PP 31.4% 26.6% 36.8% 28.3% 45.2% (16.9)PP Business outlets % % Number of employees 2,086 2,111 (1.2)% 2,140 2,150 2,176 2,086 2,176 (4.1)% Number of customers 752, , % 714, , , , , % Provisioning ratio 3.39% 2.31% 108BP 3.24% 1.36% 1.93% 2.56% 0.87% 169BP NPL ratio 6.0% 5.1% 92BP 4.3% 3.3% 3.0% 6.0% 3.0% 299BP NPL coverage ratio 89.7% 82.9% 6.8PP 86.1% 86.3% 88.9% 89.7% 88.9% 0.8PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 51

52 Country Financials (EE) Russia In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets 10,676 12,178 (12.3)% 13,531 13,832 12,442 10,676 12,442 (14.2)% Equity 1,198 1,399 (14.4)% 1,564 1,479 1,182 1,198 1, % Loans and advances to customers 6,956 7,815 (11.0)% 8,773 9,347 8,389 6,956 8,389 (17.1)% - Hereof corporate % % 63.5% 1.3PP 61.3% 61.5% 60.9% 64.8% 60.9% 3.9PP - Hereof retail % % 36.5% (1.3)PP 38.7% 38.5% 39.1% 35.2% 39.1% (3.9)PP - Hereof FCY % 46.2% 46.9% (0.8)PP 43.0% 44.7% 47.8% 46.2% 47.8% (1.6)PP Deposits from customers 7,175 7,919 (9.4)% 8,408 8,525 7,317 7,175 7,317 (1.9)% Operating income % ,082 (14.6)% - Net interest income (3.1)% (22.5)% - Net fee and commission income % (15.1)% - Net trading income 8 (1) 2 25 (55) 34 (65) - Recurring other net operating income (10) 1 (3) (3) (1) (15) 8 Net provisioning for impairment losses (35) (33) 4.2% (64) (49) (53) (181) (170) 6.5% General administrative expenses (100) (88) 14.0% (88) (79) (109) (356) (477) (25.4)% Other results 85 4 >500.0% 13 (6) (20) 97 (17) Profit/loss before tax % % Profit/loss after tax % % Return on equity before tax % 29.6% 39.1PP 30.1% 42.3% 16.2% 39.5% 22.7% 16.8PP Return on equity after tax % 23.1% 31.9PP 24.7% 33.8% 11.4% 31.6% 17.7% 14.0PP Net interest margin 5.38% 5.13% 25BP 5.31% 5.82% 6.09% 5.42% 5.92% (51)BP Loan/deposit ratio 90.4% 92.0% (1.5)PP 97.5% 104.0% 109.6% 90.4% 109.6% (19.2)PP Cost/income ratio 46.2% 41.7% 4.4PP 36.3% 31.4% 46.5% 38.5% 44.1% (5.6)PP Business outlets (5.6)% (12.3)% Number of employees 7,635 7,818 (2.3)% 7,827 8,415 8,252 7,635 8,252 (7.5)% Number of customers 3,001,811 2,974, % 2,972,783 2,959,946 2,940,532 3,001,811 2,940, % Provisioning ratio 1.88% 1.61% 27BP 2.81% 2.22% 2.22% 2.14% 1.18% 97BP NPL ratio 8.0% 8.6% (65)BP 8.1% 6.4% 5.9% 8.0% 5.9% 208BP NPL coverage ratio 75.6% 73.2% 2.5PP 73.3% 79.4% 74.1% 75.6% 74.1% 1.5PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 52

53 Country Financials (EE) Ukraine In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets 2,039 2,247 (9.3)% 2,309 2,150 2,481 2,039 2,481 (17.8)% Equity % (9.2)% Loans and advances to customers 2,177 2,303 (5.5)% 2,401 2,475 2,688 2,177 2,688 (19.0)% - Hereof corporate % % 52.3% 0.3PP 51.9% 52.6% 54.6% 52.6% 54.6% (1.9)PP - Hereof retail % % 47.7% (0.3)PP 48.1% 47.2% 45.2% 47.4% 45.2% 2.2PP - Hereof FCY % 59.1% 59.3% (0.2)PP 61.0% 64.1% 57.5% 59.1% 57.5% 1.6PP Deposits from customers 1,518 1, % 1,466 1,294 1,541 1,518 1,541 (1.5)% Operating income (12.9)% 89 (34) (34.7)% - Net interest income (1.7)% (35.3)% - Net fee and commission income (3.6)% (35.8)% - Net trading income (4) (0) >500.0% 26 (96) (52) (75) (111) (32.8)% - Recurring other net operating income (3) 0 (1) (1) (3) (5) (15) (68.7)% Net provisioning for impairment losses (58) (41) 41.8% (32) (81) (207) (212) (533) (60.2)% General administrative expenses (38) (32) 17.5% (33) (32) (37) (134) (216) (37.6)% Other results % (41.4)% Profit/loss before tax (33) (2) >500.0% 25 (82) (185) (91) (345) (73.5)% Profit/loss after tax (29) 1 25 (82) (151) (85) (290) (70.8)% Return on equity before tax % Return on equity after tax 2 3.4% 59.0% Net interest margin 8.67% 8.62% 5BP 9.07% 7.49% 9.52% 8.53% 9.35% (81)BP Loan/deposit ratio 66.3% 77.1% (10.8)PP 84.5% 101.9% 104.7% 66.3% 104.7% (38.4)PP Cost/income ratio 65.6% 48.6% 17.0PP 36.7% -93.0% 109.9% 75.4% 78.9% (3.6)PP Business outlets (6.3)% (13.9)% Number of employees 9,639 10,308 (6.5)% 10,602 11,255 11,478 9,639 11,478 (16.0)% Number of customers 2,782,366 2,823,672 (1.5)% 2,833,139 2,903,062 2,940,953 2,782,366 2,940,953 (5.4)% Provisioning ratio 10.36% 6.95% 340BP 5.30% 12.56% 29.66% 8.76% 17.77% (901)BP NPL ratio 59.3% 56.2% 306BP 53.7% 52.3% 46.0% 59.3% 46.0% 1,333BP NPL coverage ratio 90.7% 90.2% 0.5PP 90.2% 89.4% 86.9% 90.7% 86.9% 3.8PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 53

54 Country Financials (Non-Core) Poland In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets 14,504 14,693 (1.3)% 14,055 14,586 13,729 14,504 13, % Equity 1,481 1,481 (0.0)% 1,495 1,510 1,441 1,481 1, % Loans and advances to customers 9,671 10,204 (5.2)% 10,277 10,727 9,791 9,671 9,791 (1.2)% - Hereof corporate % % 36.3% (4.0)PP 35.0% 38.1% 38.0% 32.3% 38.0% (5.7)PP - Hereof retail % % 63.7% 4.0PP 64.9% 61.8% 61.9% 67.7% 61.9% 5.8PP - Hereof FCY % 57.5% 55.4% 2.1PP 56.8% 55.9% 58.8% 57.5% 58.8% (1.2)PP Deposits from customers 8,888 9,361 (5.1)% 8,578 8,800 7,737 8,888 7, % Operating income % (6.8)% - Net interest income % (17.6)% - Net fee and commission income % % - Net trading income % % - Recurring other net operating income % 5 3 (4) 15 2 >500.0% Net provisioning for impairment losses (6) (10) (45.2)% (23) (6) 28 (45) (25) 76.0% General administrative expenses (117) (76) 54.1% (73) (78) (79) (343) (321) 6.7% Other results (0) (0) 1 (4) Profit/loss before tax (12) (61.9)% Profit/loss after tax (14) (69.7)% Return on equity before tax 2 5.3% 4.4% 5.0% 13.5% 2.8% 7.5% (4.7)PP Return on equity after tax 2 4.2% 3.4% 3.3% 10.5% 1.7% 5.8% (4.0)PP Net interest margin 1.76% 1.79% (3)BP 1.92% 1.90% 2.07% 1.84% 2.44% (60)BP Loan/deposit ratio 103.3% 103.5% (0.1)PP 114.1% 114.9% 116.2% 103.3% 116.2% (12.9)PP Cost/income ratio 106.1% 71.9% 34.1PP 65.3% 76.3% 79.8% 80.0% 69.9% 10.1PP Business outlets (0.3)% % Number of employees 5,128 5,331 (3.8)% 5,419 5,425 5,462 5,128 5,462 (6.1)% Number of customers 733, , % 712, , , , , % Provisioning ratio 0.23% 0.40% (17)BP 0.86% 0.25% (1.16)% 0.44% 0.26% 18BP NPL ratio 7.6% 7.9% (37)BP 9.3% 8.9% 8.8% 7.6% 8.8% (122)BP NPL coverage ratio 65.4% 62.6% 2.8PP 55.5% 53.8% 56.9% 65.4% 56.9% 8.5PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 54

55 Country Financials (Non-Core) Slovenia In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / /2014 Change Total assets (6.4)% 924 1,103 1, ,146 (31.2)% Equity % (17.4)% Loans and advances to customers (24.1)% (49.6)% - Hereof corporate % % 53.3% (4.0)PP 51.6% 59.1% 59.0% 49.3% 59.0% (9.7)PP - Hereof retail % % 42.7% 6.4PP 38.7% 33.1% 33.3% 49.2% 33.3% 15.9PP - Hereof FCY % 5.1% 4.5% 0.6PP 4.3% 4.8% 4.3% 5.1% 4.3% 0.8PP Deposits from customers (0.1)% (10.1)% Operating income 5 6 (23.0)% % - Net interest income 2 2 (14.9)% (21.9)% - Net fee and commission income % % - Net trading income % (60.9)% - Recurring other net operating income 0 2 (80.0)% 1 (0) (0) 4 (3) Net provisioning for impairment losses (7) (5) 48.6% (2) (5) (7) (19) (23) (19.1)% General administrative expenses (5) (5) 1.5% (5) (5) (6) (19) (21) (7.2)% Other results (0) (0) 1 (0) Profit/loss before tax (7) (3) 133.6% (1) (4) (8) (15) (25) (40.8)% Profit/loss after tax (7) (3) 134.2% (1) (4) (8) (15) (25) (41.2)% Return on equity before tax 2 Return on equity after tax 2 Net interest margin 1.46% 1.24% 22BP 1.29% 1.32% 1.31% 1.31% 1.22% 9BP Loan/deposit ratio 91.1% 97.1% (6.0)PP 122.2% 149.1% 144.5% 91.1% 144.5% (53.4)PP Cost/income ratio 97.5% 73.9% 23.6PP 84.9% 88.4% 120.0% 85.3% 109.5% (24.2)PP Business outlets % % Number of employees % (5.2)% Number of customers 56,736 58,629 (3.2)% 59,382 61,603 63,426 56,736 63,426 (10.5)% Provisioning ratio 5.68% 3.11% 257BP 1.08% 2.51% 3.24% 2.89% 2.44% 45BP NPL ratio 32.1% 36.0% (393)BP 30.6% 25.9% 25.2% 32.1% 25.2% 688BP NPL coverage ratio 60.0% 62.7% (2.7)PP 67.1% 63.3% 59.9% 60.0% 59.9% 0.2PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 55

56 Country Financials (Non-Core) Asia In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / / Change Total assets 2,117 2,993 (29.3)% 3,496 4,355 4,832 2,117 4,832 (56.2)% Equity 2 Loans and advances to customers 1,477 2,205 (33.0)% 2,861 3,259 3,424 1,477 3,424 (56.9)% - Hereof corporate % % 100.0% 0.0PP 100.0% 100.0% 100.0% 100.0% 100.0% 0.0PP - Hereof retail % 1 0.0% 0.0% 0.0PP 0.0% 0.0% 0.0% 0.0% 0.0% 0.0PP - Hereof FCY % 67.3% 62.6% 4.7PP 54.3% 68.7% 60.7% 67.3% 60.7% 6.6PP Deposits from customers (43.6)% , ,108 (83.2)% Operating income 5 18 (70.1)% (42.5)% - Net interest income (53.3)% (37.5)% - Net fee and commission income 1 4 (66.0)% % - Net trading income (6) (8) (26.0)% 0 (0) (3) (14) (6) 129.2% - Recurring other net operating income (0) 0 0 (0) (98.9)% Net provisioning for impairment losses (208) (34) >500.0% (52) (3) (168) (297) (307) (3.2)% General administrative expenses (15) (12) 22.3% (12) (12) (8) (52) (48) 8.0% Other results (0) (0) (45.2)% (0) (2) 0 (3) 1 Profit/loss before tax (218) (29) >500.0% (38) 16 (162) (269) (211) 27.7% Profit/loss after tax (224) (27) >500.0% (35) 10 (202) (276) (252) 9.5% Return on equity before tax 2 Return on equity after tax 2 Net interest margin 1.96% 3.35% (139)BP 2.92% 2.74% 0.99% 2.76% 2.21% 55BP Loan/deposit ratio Cost/income ratio 289.4% 70.8% 218.6PP 44.1% 37.6% 56.0% 63.0% 33.5% 29.5PP Business outlets % (16.7)% Number of employees (4.4)% (22.1)% Number of customers (7.4)% (35.6)% Provisioning ratio 45.11% 5.38% 3,972BP 6.86% 0.32% 17.89% 12.21% 8.03% 418BP NPL ratio 46.8% 37.4% 945BP 31.3% 28.4% 19.7% 46.8% 19.7% 2,718BP NPL coverage ratio 67.8% 53.0% 14.8PP 53.5% 49.2% 58.1% 67.8% 58.1% 9.7PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Asian entities are operated as a branch; therefore no equity available 3) Partially changed as figures as at 1-12/2014 were aggregated; starting from Q1/2015 on a consolidated basis 56

57 Country Financials (Non-Core) USA In EUR mn Q4/2015 Q3/2015 Change Q2/2015 Q1/2015 Q4/ / / Change Total assets (9.7)% (22.9)% Equity (15.9)% % Loans and advances to customers (11.4)% (25.4)% - Hereof corporate % % 100.0% 0.0PP 100.0% 100.0% 100.0% 100.0% 100.0% 0.0PP - Hereof retail % 1 0.0% 0.0% 0.0PP 0.0% 0.0% 0.0% 0.0% 0.0% 0.0PP - Hereof FCY % 6.1% 6.1% 0.0PP 6.8% 5.7% 8.1% 6.1% 8.1% (2.0)PP Deposits from customers Operating income 7 7 (10.5)% (17.7)% - Net interest income 5 6 (11.4)% (15.4)% - Net fee and commission income 1 1 (9.7)% (28.2)% - Net trading income (0) (0) (24.4)% 0 (0) (0) (0) (0) (0.8)% - Recurring other net operating income % % Net provisioning for impairment losses (6) (2) 160.0% (3) (1) (4) (12) (4) 216.8% General administrative expenses (9) (4) 104.9% (5) (4) (4) (23) (15) 52.2% Other results Profit/loss before tax (9) (3) 20 Profit/loss after tax (8) (4) 15 Return on equity before tax 2 5.6% 11.9% 41.2% 40.1% 66.8% Return on equity after tax 2 7.8% 8.8% 30.5% 44.4% 50.8% Net interest margin 3.32% 3.53% (20)BP 3.75% 3.56% 3.83% 3.56% 4.53% (97)BP Loan/deposit ratio Cost/income ratio 137.6% 60.1% 77.5PP 56.2% 45.6% 35.0% 71.2% 38.5% 32.7PP Business outlets % (50.0)% Number of employees (1.8)% (13.8)% Number of customers (6.3)% (22.4)% Provisioning ratio 4.39% 1.54% 285BP 1.47% 0.61% 2.04% 1.87% 0.56% 131BP NPL ratio 9.5% 6.7% 288BP 6.6% 5.5% 4.0% 9.5% 4.0% 553BP NPL coverage ratio 43.7% 50.8% (7.1)PP 43.2% 44.9% 52.2% 43.7% 52.2% (8.5)PP Note: All data, except P/L, are dated to the end of the period 1) Sovereign as remaining share 2) Annualized 3) Partially different figures as at 1-12/2014 due to different allocation 57

58 Shareholder Information Overview Listed since on the Vienna Stock Exchange Prime Market Indices: ATX, ATX Prime, MSCI Standard Index Europe, EURO STOXX Banks 292,979,038 ordinary shares issued ISIN: AT Trading Symbols: Vienna Stock Exchange: General Information RBI RZB 60.7% Shareholder Structure Free float 39.3% Bloomberg: Reuters: RBI AV RBIV.VI RBI Ratings Long-term Outlook Short-term Moody's Baa2 Negative P-2 Standard & Poor's BBB Negative A-2 58

59 Group and Shareholder Structure Raiffeisen Banking Group (RBG) 1.7 mn members (mainly private individuals) 477 Raiffeisen Banks (total c. 2,100 outlets) 8 Regional Raiffeisen Banks and other shareholders Raiffeisen Banking Group (RBG) largest banking group in Austria with total assets of EUR bn as of year-end 2015 Solid funding profile of RBG based on a domestic market share of 30% of total customer deposits, not least due to superior brand recognition Three-tier structure of RBG: 1 st tier: 477 independent cooperative Raiffeisen Banks focusing on retail banking. They hold shares in: 2 nd tier: 8 independent Regional Raiffeisen Banks focusing on corporate and retail banking. They hold approx. 90% of the share capital in: 3 rd tier: Raiffeisen Zentralbank Österreich AG (RZB), RBG's central institution, holding numerous participations (e.g. Raiffeisen Bank International, UNIQA, Leipnik-Lundenburger, Valida) 60.7% Free Float 39.3% CE SEE EE Non-Core included in RKÖ not included in RKÖ Group Corporates Group Markets Raiffeisen Bank International AG: A leading corporate and retail banking group in CEE incl. Austria with broadly diversified business profile, as well as superior regional footprint, brand and distribution network CE, SEE, EE: Group Corporates incl. Austria: Group Markets: Non-Core: Note: Data as of 12/2015 1) RKÖ currently comprises the Raiffeisen Banks and Regional Raiffeisen Banks in seven Austrian provinces, as well as RZB and RBI Raiffeisen Kundengarantiegemeinschaft Österreich (RKÖ) 1 : Cross-guarantee scheme protecting up to 100% of customers deposits and issued securities (including senior unsecured notes and commercial paper/certificate of deposit senior programs issued by Raiffeisen Bank International) Corporate and Retail Banking (incl. leasing, asset management, sale of insurance products) Austrian top 1,000 companies, trade and project finance Corporate treasury sales, ECM/DCM in CEE (incl. Austria), FI & Sovereigns Includes countries and units that are in the process of being rescaled/exited (Poland, Slovenia, Zuno, Asia, US) 59