Annual Ge ne r al Me e ting Raiffe ise n Bank Inte r national 13 - - PowerPoint PPT Presentation

Annual Ge ne r al Me e ting Raiffe ise n Bank Inte r national

13 June 2019

Wie ne r Sta dtha lle

We lc ome

2

E rwin Ha me se de r

Cha irma n o f the Supe rviso ry Bo a rd

Annua l Ge ne ra l Me e ting 13 June 2019

3

Pre se nta tio n o f the a ppro ve d a nnua l fina nc ia l sta te me nts, inc luding the ma na g e me nt re po rt, the c o nso lida te d fina nc ia l sta te me nts a nd c o nso lida te d ma na g e me nt re po rt, e a c h a s a t 31 De c e mb e r 2018, a nd the pro po sa l fo r the utiliza tio n o f pro fit, the inde pe nde nt c o nso lida te d no n- fina nc ia l re po rt, the re po rt o f the Supe rviso ry Bo a rd fo r the 2018 fina nc ia l ye a r, a s we ll a s the Ma na g e me nt Bo a rd's Co rpo ra te Go ve rna nc e Re po rt.

F ir st Age nda Ite m

Annua l Ge ne ra l Me e ting 13 June 2019

Supe r visor y Boar d Re por t

4

E rwin Ha me se de r

Cha irma n o f the Supe rviso ry Bo a rd

Annua l Ge ne ra l Me e ting 13 June 2019

Manage me nt Boar d Re por t

5

Joha nn Strobl

CE O

Annua l Ge ne ra l Me e ting 13 June 2019

• One o f the b e st re sults in

RBI ’ s histo ry

• L
• w risk c o sts

NB: 2017 fig ure s ha ve b e e n a djuste d to re fle c t impa c t fro m F I NRE P imple me nta tio n

• I

mpro ve d ne t inte re st inc o me drive n b y lo a n g ro wth

• I

nc re a se d fe e a nd c o mmissio n inc o me

• I

nc re a se o f CE T 1 drive n b y c o nso lida te d pro fit a nd sa le o f c o re b a nking

• pe ra tio ns in Po la nd

CE T 1 Ra tio Consolida te d Profit Ope ra ting Re sult

2017

1,270

2018

1,116 +14% 2,250

2018 2017

2,087 +8%

2017

12.7%

2018

13.4% +64bps

Divide nd pro po sa l to the AGM o f E UR 0.93 pe r sha re

• L
• a ns to c usto me rs

inc re a se d in a lmo st a ll ma rke ts

L

• a ns to c ustome rs

2017

80,866

2018

77,745 +4%

13 June 2019 6

Positive De ve lopme nt 2018

Annua l Ge ne ra l Me e ting

• Pro visio ning ra tio

sub sta ntia lly re duc e d

• 130 bps NPL

re duc tio n

• 37 bps fro m lo a n g ro wth
• 19bps fro m Po lish

dispo sa l

NPL Ra tio Provisioning Ra tio

0.21%

2018 2017

0.41%

• 20bps

2017

5.7%

2018

3.8%

• 186bps
• Ne t inte re st ma rg in

sta b le a t 2.5%

Ne t Inte re st Ma rg in

2017

2.5%

2018

2.5%

• Stro ng e r g ro wth in
• pe ra ting inc o me tha n

in OPE X le d to a n impro ve d c o st/ inc o me ra tio

Cost/ Inc ome Ra tio

2017

57.5%

2018

59.1%

• 160bps

13 June 2019 7

Positive De ve lopme nt 2018

NB: 2017 fig ure s ha ve b e e n a djuste d to re fle c t impa c t fro m F I NRE P imple me nta tio n Annua l Ge ne ra l Me e ting

I n E UR mn

1) Due to the mo stly inte rna l na ture o f Co rpo ra te Ce nte r, a mo unt ne tte d with Re c o nc ilia tio n fo r illustra tive purpo se s

Distribution of Profit be fore T a x – F Y 2018

447 525 855 488 1,753

Ce ntra l E uro pe RBI Gro up

(562)

So uthe a ste rn E uro pe Co rpo ra te Ce nte r & Re c o nc ilia tio n E a ste rn E uro pe Gro up Co rpo ra te s & Ma rke ts

1

Annua l Ge ne ra l Me e ting 13 June 2019 8

(15.7%) 30.0% 8.8% 89.9% (24.6%) (2.0%)

Cha ng e y-o -y

Most impor tant de ve lopme nts 2018

• Pro fit a fte r ta x E

UR 455 mn

• Ne t inte re st inc o me inc re a se d b y 3%,

Ne t inte re st ma rg in 5.77%

• L
• a n g ro wth in E

UR 7%

• NPL

ra tio 3.0%; NPL c o ve ra g e ra tio 76.9%

13 June 2019 9

RBI in Russia : a robust busine ss mode l

Annua l Ge ne ra l Me e ting Re ta il 38% Ma te ria ls 21% Re a l E sta te 4% Co nsume r No n- Cyc lic a l 13% Co nsume r Cyc lic a l 6% I ndustria ls 7% E ne rg y 5% Othe r 6%

L

• an book e xposur

e by c ate gor y

26% RoE

(a fte r ta x, a ve ra g e 2014-2018)

29% 18% 2018 2014

~ E UR 1.6 bn c umulative pr

• fit afte r

tax sinc e 2015

13 June 2019 10

RBI in Russia : a robust busine ss mode l

387 316 443 455 (2.8%) (0.2%) 1.5% 2.3%

• 04%
• 03%
• 02%
• 01%

00% 01% 02% 03% 50 100 150 200 250 300 350 400 450 500

2015 2016 2017 2018

RBRU pro fit a fte r ta x (€ mn.) re a l GDP g ro wth in % - Russia

Annua l Ge ne ra l Me e ting

Asse ts

• L
• a ns to c ustome rs up 4%: ma inly in Austria , Cze c h Re pub lic , Ro ma nia ,

Slo va kia a nd Russia

• Ca sh ba la nc e s up, ma inly drive n b y he a d o ffic e de po sits a t Austria n

Na tio na l Ba nk

• De posits from c ustome rs up 2%: inc re a se s ma inly in Austria , Russia ,

Slo va kia , Cze c h Re pub lic a nd Ro ma nia

• De posits from ba nks up 7%, mo stly drive n b y sho rt-te rm re fina nc ing a t

he a d o ffic e

L iabilitie s

13 June 2019 11

Ba la nc e She e t Ove rvie w 2018

in E UR millio ns

31/ 12/ 2018 31/ 12/ 2017 Cha ng e

T

• ta l a sse ts

140,115 135,146 3.7% L

• a ns to b a nks

9,998 10,741 (6.9%) L

• a ns to c usto me rs

80,866 77,745 4.0% De po sits fro m b a nks 23,980 22,378 7.2% De po sits fro m c usto me rs 87,038 84,974 2.4% E q uity 12,413 11,241 10.4%

Annua l Ge ne ra l Me e ting

2019 Re gulator y Capital Re quir e me nts

13.4% 14.9% 18.2%

T

• ta l

c a pita l T ie r 1 CE T 1

min. min. min.

P2R 2.25% 4.75% 4.50% Pilla r 1 CBR

11.50% 13.00%

1.5% AT 1 11.50% CE T 1 13.00% 2.0% T ie r 2 T ie r1

15.00%

NB: ra tio s o n tra nsitio na lb a sis a t 31/ 12/ 2018; Minimum re q uire me nts a t 1/ 1/ 2019

13 June 2019 12

Ca pita l ra tios we ll a bove re quire me nts

Annua l Ge ne ra l Me e ting

NPL as % of c ustome r loans and NPL c ove r age r atio De ve lopme nt of pr

• visioning r

atio

2014 2018 2017 2015 2016 77.6% 67.5% 71.3% 75.6% 67.0% NPL Co ve ra g e Ra tio (no n-b a nks) NPL Ra tio (no n-b a nks) 2018 2017 2014 2015 2016 2.13% 0.21% 1.64% 1.05% 0.35% Impa irme nt lo sse s o n fina nc ia l a sse ts (E UR mn) Pro visio ning ra tio (a vg . lo a ns to c usto me rs) 1,716 1,264 754 287 166

• Sub sta ntia lly impro ve d r

isk c osts and NPL r atio

• NPL

r atio de c re a se d b y 1.9 PP to 3.8%; la rg e st re duc tio n in SE

E (b y 2.4PP) a nd E E (2.1PP)

• NPL

c ove r age r atio inc re a se d in 2018 b y 10.6 PP to 77.6%

• Wo rko ut is ve ry muc h fo c use d o n va lue pre se rving a ppro a c h (e .g . se le c tive sa le o f NPL

s)

13 June 2019 13

NPL De ve lopme nt

Annua l Ge ne ra l Me e ting

9.2% 11.9% 11.4% 5.7% 3.8%

Summa ry of Q1/ 2019

L

• ans to c ustome r

s (E UR bn) CE T 1 Ratio (% ) Consolidate d Pr

• fit

(E UR mn) Ope r ating Re sult (E UR mn) 399 226 Q1/ 2019 Q1/ 2018

• 43%

77,745

• Ca pita l ra tio re ma ins we ll a b o ve

ta rg e t le ve l

• CE

T 1 ra tio pro fo rma , inc l. Q1 re sults

80.2 Q1/ 2018 85.5 Q1/ 2019

+7%

551 465 Q1/ 2018 Q1/ 2019

• 16%

13.6 12.8 Q1/ 2018 Q1/ 2019

+0.8 PP

• Risk c o sts re ma in ve ry lo w
• Bo o king o f c o ntrib utio ns to

re so lutio n fund a nd b a nk le vy pa yme nts pre d o mina ntly in Q1

• NII

up ~7.5% y-o -y e xc lud ing Po la nd , fe e a nd c o mmissio n inc o me up ~6% e xc lud ing Po la nd

• Also impa c te d b y Po la nd a nd

he d g e va lua tio ns

• Stro ng lo a n g ro wth d e spite sa le in

Po la nd

• L
• a ns up 6% YT

D



Re silie nt a nd we ll-d ive rsifie d c o re re ve nue stre a ms



So und risk po sitio n



Ma c ro e c o no mic e nviro nme nt re ma ins suppo rtive



We ll po sitio ne d to c a pita lize o n g ro wth o ppo rtunitie s

13 June 2019 14 Annua l Ge ne ra l Me e ting

507 379 75.7 Q1/ 2018 e xc l. Po la nd / Po lish c o re b a nking o pe ra tio ns

F ina nc ia l Pe rforma nc e Q1/ 2019

2.44

Ne t Inte r e st Ma r g in (% )

2.44

Cost/ Inc ome R a tio (% )

2.44

Consolida te d R e tur n on E quity (% ) Ope r a ting inc ome

(7.9%)

Ge ne r a l a dmin. e xpe nse s

(2.1%)

Pr

• visioning r

a tio

+47 b ps

Consolida te d pr

• fit

(43.4%)

E UR 0.64 E a r ning s pe r sha r e E UR 33.36 Book va lue pe r sha r e

Q1/ 2019

2.49

Q1/ 2018

2.43

Q1/ 2018

57.3 60.9

Q1/ 2019

16.6

Q1/ 2019 Q1/ 2018

7.9 y-o -y Annua l Ge ne ra l Me e ting 13 June 2019 15

E UR 1,189 mn E UR (724) mn 4 b ps E UR 226 mn

Adva nc e d Anti- Mone y L a unde ring Syste m

• Ong o ing a sse ssme nt o f tra nsa c tio n mo nito ring ind ic a to rs to

furthe r o ptimize the syste m

• Re g ula r me e ting s with la rg e US b a nks to d e mo nstra te fra me wo rk,

me tho d o lo g y, re so urc e s, c a lib ra tio n a nd c ritic a l c o untrie s

F ully a uto ma te d tra nsa c tio n sc re e ning using a c o mmo n-sta nda rd mo nito ring syste m

All ale r ts a re ma nua lly r e vie we d

F ull c o mplia nc e with inte rna l re g ula tio ns a nd lo c a l le g a l re q uire me nts Re g ula r re vie ws b y the re g ula to r

Inte r nal and E xte r nal ve r ific ation AML staffing (inc l. suppo rt func tio ns)

• ~80 F

T E s in he a d o ffic e

• Ove r 300 F

T E s in the ne two rk units



One sta nda rd syste m a c ro ss the Gro up



I nte rna l a nd e xte rna l ve rific a tio n a nd o ptimiza tio n



F ull c o mplia nc e with le g a l re q uire me nts

Mode r n tr ansac tion monitor ing syste m Nor kom (BAE

Syste ms)

Annua l Ge ne ra l Me e ting 13 June 2019 16

Inde x b a se : E UR 30.20

13 June 2019 17

Sha re pric e de ve lopme nt

Annua l Ge ne ra l Me e ting € 18 € 20 € 22 € 24 € 26 € 28 € 30 € 32 € 34 € 36 Ja nua ry 2018 April 2018 July 2018 Oc to b e r 2018 Ja nua ry 2019 April 2019 RBI E URO ST OXX Ba nks (re la tive to RBI ) AT X (re la tive to RBI )

31/ 12/ 2018 Custome r loans

(y-o -y)

Str ate gic F

• c us

Re ta il Co rpo ra te

Cor por a te s Vie nna

E UR 18,163 mn (+25%)

Cze c h R e public

E UR 11,131 mn (+10%)

Slova kia

E UR 10,075 mn (+8%)

R ussia

E UR 8,519 mn (+7%)

R

• ma nia

E UR 5,702 mn (+19%)

Hung a r y

E UR 3,354 mn (+13%)

Bulg a r ia

E UR 2,595 mn (+15%)

Cr

• a tia

E UR 2,361 mn (0%)

Ukr a ine

E UR 1,525 mn (+35%)

Se r bia

E UR 1,354 mn (+11%)

Bosnia & He r ze g ovina

E UR 1,292 mn (+9%)

Be la r us

E UR 1,073 mn (+13%)

Alba nia

E UR 705 mn (+4%)

Kosovo

E UR 624 mn (+12%)

                          

13 June 2019 18

Stra te g ic Initia tive in re ta il a nd c orpora te busine ss

31/ 12/ 2018 Custome r loans

(y-o -y)

Annua l Ge ne ra l Me e ting

Str ate gic F

• c us

Re ta il Co rpo ra te

F ive Pilla rs of Dig ita liza tion

INT E GRAT ION L AYE R & OPE N APIS AGIL E & X- F UNCT IONAL WORKING ST RONG DAT A & ANAL YT ICS CAPABIL IT IE S DIGIT AL OPE RAT IONAL E XCE L L E NCE E F F E CT IVE GROUP- WIDE INNOVAT ION We c r e ate an e xc e ptional e xpe r ie nc e for

• ur

c ustome r s… … foste r innovation and de ve lop ne w busine ss mode ls

Annua l Ge ne ra l Me e ting 13 June 2019 19

Hungar y

Me rlin pla tform: inte g ra ting RBI Group

CL OUDBASE D PL AT F ORM

Co nne c ting Units Gro upwide | E na b ling Usa g e o f Jo int Pro duc ts | De ve lo pme nt o f Ne w Se rvic e s L OCAL SYST E MS ME RL I N PL AT F ORM I NT E RNAL & E XT E RNAL UX

Albania



Be lar us



Bulgar ia



Cr

• atia



Kosovo



Russia



Slovakia



Cze c h

 

Romania



Se r bia



Ukr aine



Bosnia 2019

RE

• USABL

E SE RVICE S

Co mmo n Da ta F

• rma t

F ro nte nd Ana lytic s Co mpa ny Re g iste r Da ta Custo me r F e e db a c k Vide o I de ntific a tio n API Ma na g e me nt Annua l Ge ne ra l Me e ting 13 June 2019 20

E stablish a c ollabor ative wor kfor c e c ultur e Impr

• ve our

c ompe titive e dge F

• c us on de live r

ing c ustome r value Re - vitalize e ntr e pr e ne ur ship

• ~30% o f sta ff a t RBI he a d o ffic e o pe ra ting in a g ile te a ms, a lso hig h po rtio n o f e mplo ye e s wo rking a g ile in Russia
• Inno va tio n a c tivitie s tra nsfe rre d to a g ile pro d uc t te a ms

RBI de ve loping towar ds an adaptive or ganization in the c our se of the digital tr ansfor mation

Annua l Ge ne ra l Me e ting 13 June 2019 21

Innova tion ve hic le s fa c ilita te ne w solutions a nd pa rtne rships

INNOVAT ION GARDE N E L E VAT OR L AB

E MPL OYE E INIT IAT IVE S

DE VE L OPE D IN A ST ART

• UP PROCE

SS

F INT E CH PART NE RSHIP PROGRAM

GL OBAL HUNT F OR INNOVAT IVEST ART

• UPS

WHICH PROVE VIABL E F OR RBI Me mb e rs o n Id e a s Pla tfo rm

7,428

Clie nt Inte rvie ws

1,300

F re sh Id e a s

1,328

Inte rna l Sta rt-Ups

2

E le va to r L a b Cha lle ng e s

10

Co ntinue d Co -o pe ra tio ns

12

Annua l Ge ne ra l Me e ting 13 June 2019 22

Outlook a nd T a rg e ts

• We will pursue lo a n g ro wth with a n a ve ra g e ye a rly pe rc e nta g e inc re a se in the mid -sing le

dig it a re a

• T

he pro visio ning ra tio fo r F Y 2019 is e xpe c te d to b e a ro und 45 b a sis po ints

• We a ntic ipa te tha t the NPEra tio will furthe r re duc e
• We a im to a c hie ve a c o st/ inc o me ra tio o f a ro und 55 pe r c e nt in 2021
• I

n the c o ming ye a rs we ta rg e t a c o nso lida te d re turn o n e q uity o f a ppro xima te ly 11 pe r c e nt

• We se e k to ma inta in a CE

T 1 ra tio o f a ro und 13 pe r c e nt in the me dium te rm

• Ba se d
• n this ta rg e t, we

inte nd to distrib ute b e twe e n 20 a nd 50 pe r c e nt o f the c o nso lida te d pro fit

Annua l Ge ne ra l Me e ting 13 June 2019 23

24

Re so lutio n o n the utiliza tio n o f ne t pro fit, a s sho wn in the a nnua l fina nc ia l sta te me nts a s a t 31 De c e mb e r 2018.

Se c ond Age nda Ite m

Annua l Ge ne ra l Me e ting 13 June 2019

25

Re so lutio n o n the re le a se o f the me mb e rs o f the Ma na g e me nt Bo a rd fro m lia b ility fo r the 2018 fina nc ia l ye a r.

T hir d Age nda Ite m

Annua l Ge ne ra l Me e ting 13 June 2019

26

Re so lutio n o n the re le a se o f the me mb e rs o f the Supe rviso ry Bo a rd fro m lia b ility fo r the 2018 fina nc ia l ye a r.

F

• ur

th Age nda Ite m

Annua l Ge ne ra l Me e ting 13 June 2019

27

Appo intme nt o f a n a udito r (b a nk a udito r) fo r the a udit o f the a nnua l fina nc ia l sta te me nts a nd c o nso lida te d fina nc ia l sta te me nts fo r the 2020 fina nc ia l ye a r.

F ifth Age nda Ite m

Annua l Ge ne ra l Me e ting 13 June 2019

28

E le c tio n o f o ne pe rso n to the Supe rviso ry Bo a rd.

Sixth Age nda Ite m

Annua l Ge ne ra l Me e ting 13 June 2019

29

Re so lutio n o n the re vo c a tio n o f the a utho riza tio n g ra nte d to the Ma na g e me nt Bo a rd pursua nt to §169 o f the Austria n Sto c k Co rpo ra tio n Ac t (a utho rize d c a pita l), a nd the c re a tio n

• f ne w a utho rize d c a pita l in re turn fo r c o ntrib utio ns in c a sh

a nd/ o r in kind with the po ssib ility to e xc lude sub sc riptio n rig hts, a nd o n the c o rre spo nding a me ndme nt to § 4 (5) o f the Artic le s o f Asso c ia tio n.

Se ve nth Age nda Ite m

Annua l Ge ne ra l Me e ting 13 June 2019

30

Re so lutio n o n the a me ndme nts to § 4 a nd § 15 o f the Artic le s

• f Asso c ia tio n.

E ighth Age nda Ite m

Annua l Ge ne ra l Me e ting 13 June 2019

31

Q & A

Annua l Ge ne ra l Me e ting 13 June 2019

32

Contac t and F inanc ial Cale ndar

F ina nc ia l Ca le nda r Conta c t De ta ils

19 June 2019 E x-Divid e nd Da te 21 June 2019 Re c o rd Da te Divid e nd s 24 June 2019 Divid e nd Pa yme nt Da te 25 July 2019 Sta rt o f Quie t Pe rio d 1 8 Aug ust 2019 Se mi-Annua l Re po rt, Co nfe re nc e Ca ll 31 Oc to b e r 2019 Sta rt o f Quie t Pe rio d 1 14 No ve mb e r 2019 T hird Qua rte r Re po rt, Co nfe re nc e Ca ll

Gr

• up Inve stor

Re lations

Ra iffe ise n Ba nk Inte rna tio na l AG Am Sta d tp a rk 9 1030 Vie nna Austria T e l.: +43 1 71 707 2089 F a x: +43 1 71 707 2138 ir@ rb inte rna tio na l.c o m www.rb inte rna tio na l.c o m

1)Quie t Pe rio d: two -we e k pe rio d b e fo re the pub lic a tio n o f the q ua rte rly fina nc ia l sta te me nts. During the se pe rio ds we do no t ho ld inve sto r o r a na lyst me e ting s

Annua l Ge ne ra l Me e ting 13 June 2019

33

Disc laime r

Ce rtain state me nts c ontaine d he re in may be state me nts of future e xpe c tations and othe r forward-looking state me nts about Raiffe ise n Bank Inte rnational AG (“RBI”) and its affiliate s, whic h are base d on manage me nt's c urre nt vie ws and assumptions and involve known and unknown risks and unc e rtaintie s that c ould c ause ac tual re sults, pe rformanc e or e ve nts to diffe r mate rially from those e xpre sse d or implie d in suc h state me nts. In addition to state me nts whic h are forward- looking by re ason of c onte xt, words suc h as "may", "will", "should", "e xpe c ts", "plans", "c onte mplate s", "inte nds", "antic ipate s", "be lie ve s", "e stimate s", "pre dic ts", "pote ntial", or "c ontinue " and similar e xpre ssions typic ally ide ntify forward- looking state me nts. By the ir nature , forward-looking state me nts involve known and unknown risks and unc e rtaintie s be c ause the y re late to e ve nts and de pe nd on c irc umstanc e s that may or may not oc c ur in the future . As suc h, no forward-looking state me nt c an be guarante e d. Undue re lianc e should not be plac e d on the se forward-looking state me nts. Many fac tors c ould c ause our re sults of ope rations, financ ial c ondition, liquidity, and the de ve lopme nt of the industrie s in whic h we c ompe te , to diffe r mate rially from those e xpre sse d or implie d by the forward- looking state me nts c ontaine d he re in. T he se fac tors inc lude , without limitation, the following: (i) our ability to c ompe te in the re gions in whic h we ope rate ; (ii) our ability to me e t the ne e ds of our c ustome rs; (iii) our ability to le ve rage syne rgie s from ac quisitions, c ost re duc tion programs

• r othe r proje c ts; (iv) unc e rtaintie s assoc iate d with ge ne ral

e c onomic c onditions partic ularly in CE E ; (v) gove rnme ntal fac tors, inc luding the c osts of c omplianc e with re gulations and the impac t of re gulatory c hange s; (vi) the impac t of c urre nc y e xc hange rate and inte re st rate fluc tuations; and (vii) othe r risks, unc e rtaintie s and fac tors inhe re nt in our busine ss. T his pre se ntation c ontains financ ial and non-financ ial information and statistic al data re lating to RBI. Suc h information and data are pre se nte d for illustrative purpose s only. Subje c t to applic able se c uritie s law re quire me nts, we disc laim any inte ntion or obligation to update or re vise any forward- looking state me nts se t forth he re in, whe the r as a re sult of ne w information, future e ve nts or othe rwise . T his doc ume nt is for information purpose s only and shall not be tre ate d as giving any inve stme nt advic e and/ or re c omme ndation whatsoe ve r. T his pre se ntation and any information (writte n or oral) provide d to you doe s not c onstitute an offe r of se c uritie s, nor a solic itation for an offe r of se c uritie s, nor a prospe c tus or adve rtise me nt or a marke ting or sale s ac tivity for suc h se c uritie s. Ne ithe r the share s of RBI nor se c uritie s issue d by any subsidiary of RBI have be e n re giste re d unde r the U.S. Se c uritie s Ac t of 1933 (the “Se c uritie s Ac t”) nor in Canada, U.K. or Japan. No se c uritie s may be offe re d or sold in the Unite d State s or in any othe r jurisdic tion, whic h re quire s re gistration or qualific ation, abse nt any suc h re gistration or qualific ation or an e xe mption the re from. T he se mate rials must not be c opie d or othe rwise distribute d to “U.S. pe rsons” (ac c ording to the de finition unde r Re gulation S of the Se c uritie s Ac t as ame nde d from time to time ) or public ations with ge ne ral c irc ulation in the Unite d State s. T he c irc ulation of this doc ume nt may be re stric te d or prohibite d in c e rtain jurisdic tions. F

• r the Unite d Kingdom: T

his pre se ntation and re late d mate rial (the se "Mate rials") are for distribution only to pe rsons who are me mbe rs of RBI falling within Artic le 43(2) of the F inanc ial Se rvic e s and Marke ts Ac t 2000 (F inanc ial Promotion) Orde r 2005 (as ame nde d, the "F inanc ial Promotion Orde r") or who (i) have profe ssional e xpe rie nc e in matte rs re lating to inve stme nts falling within Artic le 19(5) of the F inanc ial Promotion Orde r, (ii) are pe rsons falling within Artic le 49(2)(a) to (d) ("high ne t worth c ompanie s, uninc orporate d assoc iations e tc ") of the F inanc ial Promotion Orde r, (iii) are outside the Unite d Kingdom, or (iv) are pe rsons to whom an invitation or induc e me nt to e ngage in inve stme nt ac tivity (within the me aning of se c tion 21 of the F inanc ial Se rvic e s and Marke ts Ac t 2000) in c onne c tion with the issue or sale of any se c uritie s may othe rwise lawfully be c ommunic ate d or c ause d to be c ommunic ate d (all suc h pe rsons toge the r be ing re fe rre d to as "re le vant pe rsons"). T he se Mate rials are dire c te d only at re le vant pe rsons and must not be ac te d on or re lie d on by pe rsons who are not re le vant pe rsons. Any inve stme nt or inve stme nt ac tivity to whic h the se Mate rials re late is available only to re le vant pe rsons and will be e ngage d in only with re le vant pe rsons. F igure s shown in the pre se ntation are base d on figure s disc lose d in the annual re port (for this pre se ntation, numbe rs in the annual re port have be e n adjuste d to re fle c t impac t from F INRE P imple me ntation) as we ll as the inte rim re ports of RBI. Howe ve r, figure s use d in this doc ume nt have be e n rounde d, whic h c ould re sult in pe rc e ntage c hange s diffe ring slightly from those provide d in suc h re ports. We have dilige ntly pre pare d this pre se ntation. Howe ve r, rounding, transmission, printing, and typographic al e rrors c annot be rule d out. None of RBI, any of its affiliate s, advisors or re pre se ntative s shall be re sponsible or liable for any omissions, e rrors or subse que nt c hange s whic h have not be e n re fle c te d he re in and ac c e pt no liability whatsoe ve r for any loss or damage howsoe ve r arising from any use of this doc ume nt or its c onte nt or third party data or othe rwise arising in c onne c tion the re with.

Annua l Ge ne ra l Me e ting 13 June 2019