INVESTMENTS IN A EUROPEAN TOP REGION - April 2021 - Raiffeisen
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Raiffeisen – die erfolgreichste Bankengruppe in Österreich Unkonsolidierte Bilanzsumme (31.12.2014): 343 Mrd. Euro Konsolidierte Bilanzsumme (31.12.2014): 286 Mrd. Euro Marktanteile: 2014 wurde Raiffeisen in einer repräsentativen Studie („Reader‘s Digest“) zum achten Mal in Folge zur vertrauenswürdigsten Bankengruppe in Österreich gewählt. 2013 wurde Raiffeisen vierfach mit dem Recommender-Award für exzellente Kundenorientierung ausgezeichnet. INVESTMENTS IN A EUROPEAN TOP REGION April 2021
TABLE OF CONTENTS 01 | Business Location Austria and Vorarlberg 02 | Raiffeisen Banking Group Austria (RBGÖ) 03 | Raiffeisen Banking Group Vorarlberg (RBGV) 04 | Raiffeisenlandesbank Vorarlberg (RLBV) 05 | Funding 06 | Covered Bonds 07 | Investor Relations 08 | Annex
01
Raiffeisen – die erfolgreichste
Bankengruppe in Österreich
Unkonsolidierte Bilanzsumme (31.12.2014): 343 Mrd. Euro
Konsolidierte Bilanzsumme (31.12.2014): 286 Mrd. Euro
Marktanteile:
2014 wurde Raiffeisen in einer repräsentativen Studie („Reader‘s Digest“) zum achten Mal in Folge zur
vertrauenswürdigsten Bankengruppe in Österreich gewählt.
2013 wurde Raiffeisen vierfach mit dem Recommender-Award für exzellente Kundenorientierung
ausgezeichnet.
Liebherr-Werk Nenzing GmbH
BUSINESS LOCATION
AUSTRIA AND VORARLBERG
3
01 Business Location Austria and Vorarlberg
AUSTRIA - FACTS
� Rating: Moody's Aa1 (stable), S&P AA+
(stable), Fitch AA+ (stable)
� All essential KPIs above the EU average
� Located in the heart of Europe
� Economic development is difficult to
forecast due to the Corona pandemic
in percent 2019 2020 2021
Gross Domestic Product (GDP), real 1.4 -6.6 2.3 / 1.5*
Inflation (HICP) 1.5 1.5 1.9
Current account in percent GDP 3.0 2.3 1.4 / 1.3
Budget balance (Maastricht) in percent GDP 0.7 -9.8 -7.1
Structural budget balance in percent GDP -0.7 -6.3 -4.7
Public debt in percent GDP 70.5 84.9 87.9
*Opening scenario / Lockdown scenario
4
01 Business Location Austria and Vorarlberg
VORARLBERG -
AUSTRIA’S WESTERNMOST STATE
� Strategically ideal location in the heart of Europe’s
markets with the highest purchasing power Germany
� Vorarlberg is the biggest winner in the European
Single Market’s duty-free trade1
Bregenz
� Top position in the economic ranking of states Switzerland
� Tourism 2019/2020: 7.3 million guests overnight stays2
VORARLBERG
Tyrol
in percent Austria Vorarlberg Liechten-
stein
Regional GDP 2000-2019 +86.1 +100.9
Demographic development 2000-2019 +10.8 +13.4
Employment development 2011-2020 +8.6 +11.5
Unemployment rate 2020 9.9 7.7
Capital Vienna Bregenz Italy
Population 8.9 million 395,949
Area 83,879 km² 2,601 km2
1
Comparison of 283 European regions, according to a study of the University of Sussex and the Bertelsmann Stiftung.
2
november 2019 until ocotober 2020
5
01 Business Location Austria and Vorarlberg
VORARLBERG –
ECONOMIC STRENGTHS
� Global market leaders, innovative small and medium-sized
companies, traditional craftsmen businesses/trades
� Balanced, well-linked economic structure: Home of many
companies from different industries
< High service level, professionalism, performance-
orientation of the population and efficient structures
� Many family-owned businesses with a high affinity
and loyalty to the country
� Among the European leaders in patent registrations
per million residents
6
01 Business Location Austria and Vorarlberg
MACROECONOMIC FRAMEWORK CONDITIONS
Gross Regional Product per person 2019
by state
52,700
47,290 Vienna
Baden- 46,000 36,700
Wurttemberg 48,323 Upper Austria
Bavaria Lower Austria
53,600 40,800
48,400 48,100 Styria 31,600
Vorarlberg Salzburg Burgenland
Tyrol
38,300
Carinthia
48,800 Austria
7
01 Business Location Austria and Vorarlberg
MACROECONOMIC FRAMEWORK CONDITIONS
Available income 2019 in Euro per person
by place of residence
22,500
Vienna
24,500 25,100
Upper Austria
Lower Austria
24,700 23,900
25,200 23,800 Styria 24,800
Vorarlberg Salzburg Burgenland
Tyrol
23,600
Carinthia
24,000 Austria
8
01 Business Location Austria and Vorarlberg
REAL ESTATE MARKET
Average house prices 2019
441-1,000 Euro/m²
1,001-2,000 Euro/m²
2,001-3,000 Euro/m²
3,001-4,000 Euro/m²
4,001-10,649 Euro/m²
Results in districts with
low transaction volumes
are not represented
All results are median values.
901 Business Location Austria and Vorarlberg
REAL ESTATE MARKET
Development of prices for buildable land Development of apartment prices
1000 4,036
4000
912 3,848
900 3,899
3,846
800 738
714 3,598
700
3500
600
3,469
500
368 3,226
400 338 333
300 3000 3,046
200
86 87 80 2,812
100
2017 2018 2019 2500
2017 2018 2019
Development of house prices
4500 4,051 4,235
3,750
Values for Vienna
3,641
3,525
3000 Values for Vorarlberg
2,941
Values for Austria
1500 1,600 All results are median values. Price in Euro per square metre
1,458 1,531
10
2017 2018 201902
Raiffeisen – die erfolgreichste
Bankengruppe in Österreich
Unkonsolidierte Bilanzsumme (31.12.2014): 343 Mrd. Euro
Konsolidierte Bilanzsumme (31.12.2014): 286 Mrd. Euro
Marktanteile:
2014 wurde Raiffeisen in einer repräsentativen Studie („Reader‘s Digest“) zum achten Mal in Folge zur
vertrauenswürdigsten Bankengruppe in Österreich gewählt.
2013 wurde Raiffeisen vierfach mit dem Recommender-Award für exzellente Kundenorientierung
ausgezeichnet.
aerial view of vienna
Raiffeisen Bankengruppe
RAIFFEISEN
Österreich
BANKING GROUP AUSTRIA
1102 Raiffeisen Banking Group Austria
Structure of
Raiffeisen Banking Group Austria
2,800,000 Customers
� Voting right in the General Meeting
1,700,000 Members of the cooperative
� Universal Banks
367 Autonomous Raiffeisen Banks � Retail banking
� Corporate banking
� Service provider for the Raiffeisen banks
8 Raiffeisenlandesbanken � Own banking business
� Proprietary business (e.g. treasury, equity holdings)
� Equity holdings and specialised institutes
Raiffeisen Bank International AG � International business - Network banks
� Commercial business - Investment banking
1202 Raiffeisen Banking Group Austria
RAIFFEISEN–- die
Raiffeisen THEerfolgreichste
MOST SUCCESSFUL
BANKING GROUPinINÖsterreich
Bankengruppe AUSTRIA
Consolidated balance sheet: 322.7 billion Euro1
Market shares:
Major accounts retail*2 39.3 %
39,3
Deposits1 34.7 %
34,7
Consumer loans1 32,2
32.2 %
* Customers who use Raiffeisen as their main bank
Raiffeisen – a trustworthy and
friendly brand with a long history.
1
Source: Market analysis on the basis of OeNB data /
status 31/12/2020 (Austrian National Bank)
2
Source: Integral / Retail Banking Report 2020 Amanda Salzgeber Hermann Maier Marcel Hirscher Nina Ortlieb
1303
Raiffeisen – die erfolgreichste
Bankengruppe in Österreich
Unkonsolidierte Bilanzsumme (31.12.2014): 343 Mrd. Euro
Konsolidierte Bilanzsumme (31.12.2014): 286 Mrd. Euro
Marktanteile:
2014 wurde Raiffeisen in einer repräsentativen Studie („Reader‘s Digest“) zum achten Mal in Folge zur
vertrauenswürdigsten Bankengruppe in Österreich gewählt.
2013 wurde Raiffeisen vierfach mit dem Recommender-Award für exzellente Kundenorientierung
ausgezeichnet.
Bregenzerwald, Au
RAIFFEISEN BANKING GROUP VORARLBERG
1403 Raiffeisen Banking Group Vorarlberg
LARGEST BANKING GROUP
IN THE STATE OF VORARLBERG Market share customer deposits
Strong roots in the region Raiffeisen 41%
Market leader in Vorarlberg
In 2019, the Raiffeisen banks
in Vorarlberg were awarded the
“Recommender Seal of Quality” for
their “excellent customer focus” by
the Finance Marketing Association
of Austria.
16 autonomous Raiffeisen banks and Market share customer receivables
the Raiffeisenlandesbank Vorarlberg
71 bank branches Raiffeisen 38%
1,603 bank employees
246,500 retail clients
21,000 corporate clients
77,700 members
1503 Raiffeisen Banking Group Vorarlberg
LIQUIDITY MANAGEMENT AT RAIFFEISEN
BANKING GROUP VORARLBERG (RBGV)
� RLBV is the lead institution of RBGV
– is responsible for liquidity balancing within the group
– ensures peak-demand balancing on the financial and capital markets
� RLBV is responsible for regulatory requirements
– Waiver for meeting the Liquidity Coverage Ratio (LCR) on
200
200 %
RBGV level
160.6 %
– Target: Application for a group-waiver concerning NSFR 150
111.1%
100
100 %
50
0
LCR dated 31/12/2020 NSFR dated 31/12/2020
for RBGV for RBGV
1603 Raiffeisen Banking Group Vorarlberg
RAIFFEISEN BANKING GROUP VORARLBERG
(consolidated amounts in million EUR)
Balance Sheet Operating result
15
15 80
80
79.1
13,709 72.1
12,331 12,545 70
12
12
60
60 65.9
99 50
40
40
66
30
33 20
20
10
0 0
2018 2019 2020 2018 2019 2020
Own funds Profit after risk (EBT)
1500
1.500 100
100
1,223 1,263 82.7
1200
1.200
1,161 80
80 74.5
900 60
59.8
900 60
600
600 40
40
300
300 20
20
0 0
2018 2019 2020 2018 2019 2020
1703 Raiffeisen Banking Group Vorarlberg
RBGV LOAN PORTFOLIO 9.4 BILLION EURO (as of: march 2020)
1.9% Traffic and logistics
2.1% Financial and insurance services
3.0% Public administration and social insurance
3.1% Agriculture and forestry
3.2% Contractors, scientific and technical services
4.6% Trade; maintenance and repair of motor vehicles
5.5% Manufacturing
6.0% Other
7.0% Hospitality and catering
7.6% Construction
13.7% Real estate and housing
42.5% Employed customers
NPL Coverage Ratio 1 Coverage Ratio 2
31/12/2019 1.84% 48.10% 97.24%
31/12/2020 1.81% 46.07% 97.91%
30/03/2021 1.78% 47.35% 98.04%
Coverage Ratio 1: Risk provisions (relative to NPL portfolio) / NPL (to customers)
18
Coverage Ratio 2: Risk provisions + collaterals (relative to NPL portfolio) / NPL (to customers)03 Raiffeisen Banking Group Vorarlberg
RBGV LOAN PORTFOLIO – CURRENCY BREAKDOWN (as of: march 2020)
The volume denominated in CHF has strongly declined over the last years.
De facto no new loans denominated in CHF
Breakdown by currency (converted into EUR)
EUR
94.0%
8.9 billion EUR
Customers without FX risk
31.1 %
0.2 billion EUR
CHF
5.6% Customers with FX risk
0.6 billion EUR 68.9%
0.4 billion EUR
Other
0.8%
0.02 billion EUR
1903 Raiffeisen Banking Group Vorarlberg
HIGHEST SAFETY R LBV
and early
warning
ess
FOR YOUR DEPOSIT ed
i two
rthin
arit y fund
for Raiffeisen in Voarlb
erg
Cr solid
y -IPS)
ntar e -IPS (L
lu t
Vo Sta
Creditworthiness RLBV and early warning (B-IPS)
r al-IPS
de
Fe
Vo
Voluntary solidarity fund for Raiffeisen in Vorarlberg rotection
sit p
lu
p o
n
Cre
de
tary
State-IPS (L-IPS)1
di
s
tw
olidarity
orthines
Federal-IPS (B-IPS)1 Customer
Federa
State-IPS (L-IPS)
fund for Raiffeisen
Aaa - Cover pool
C ov e r p o ol
s RLBV and early
Covered
l - IP S ( B - I P S )
Bonds
unsecured
issues
in Vo
warn
rarl
ing
ber
Fe
g
d era
l-IP S
Vo ( B -I P S )
lun Sta
tar t e -IP
ys S (L-I
olid PS)
Cr arit
1
Efforts are currently being made to establish a new Raiffeisen IPS that will be recognised ed y fun
itw d for R erg
as a statutory deposit guarantee. In December 2020, an application for approval was ort aiffeisen in Vorarlb
submitted to the supervisory authority (FMA) in this regard. hin
ess
RLB
V and
early warning
2003 Raiffeisen Banking Group Vorarlberg
INSTITUTIONAL PROTECTION SCHEME (IPS)
IPS pursuant to Article 49 (3) and 113 (7) of the Capital Requirements Regulation (CRR)
IPS protects the participating banks’ continued Characteristics:
existence and in particular ensures + Grandfathered protection for each member
- their liquidity and/or + Bottom-up principle (state-IPS initially,
- their solvency then federal-IPS)
to avoid bankruptcy where necessary. + Improved early warning system
Federal-IPS1 + Advantages in the area of own funds
Raiffeisen Bank International AG and all + Advantages in liquidity management
Raiffeisenlandesbanken in the states
+ Endowment ex-ante funds and ad-hoc contribution
State-IPS for Vorarlberg1 + Contribution only as far as sustainable for each
All Raiffeisen Banks in Vorarlberg and individual member
Raiffeisenlandesbank Vorarlberg + Supplements the current protection systems
1
Efforts are currently being made to establish a new Raiffeisen IPS that will be recognised as a statutory deposit guarantee.
In December 2020, an application for approval was submitted to the supervisory authority (FMA) in this regard.
2104
Raiffeisen – die erfolgreichste
Bankengruppe in Österreich
Unkonsolidierte Bilanzsumme (31.12.2014): 343 Mrd. Euro
Konsolidierte Bilanzsumme (31.12.2014): 286 Mrd. Euro
Marktanteile:
2014 wurde Raiffeisen in einer repräsentativen Studie („Reader‘s Digest“) zum achten Mal in Folge zur
vertrauenswürdigsten Bankengruppe in Österreich gewählt.
2013 wurde Raiffeisen vierfach mit dem Recommender-Award für exzellente Kundenorientierung
ausgezeichnet.
RAIFFEISENLANDESBANK VORARLBERG
2204 Raiffeisenlandesbank Vorarlberg
THE CENTRAL INSTITUTION FOR THE
RAIFFEISEN BANKS IN VORARLBERG (as of: September 2021)
� Based in: Bregenz
� Founded 1895 as “Verband der Sparkassen und Darlehenskassenvereine in Vorarlberg“
� Moody’s issuer rating: A3 (stable outlook)
� 99.9% owned by the Raiffeisen Banks in Vorarlberg
(remainder held by various cooperatives)
KPIs (UGB) in million EUR 31/12/2018 31/12/2019 31/12/2020
Balance Sheet 6,604 6,423 7,017
Liabilities to customers 807 706 694
Receivables from customers 1,526 1,659 1,648
Securitised liabilities 2,175 2,417 2,193
Treasury securities 1,908 1,760 1,865
NPL ratio 1
2.28% 1.93% 2.9%
Number of employees (full-time equivalents) 268 333 344
31/12/2018 31/12/2019 31/12/2020
Own funds according to CRR 362 393 387
Capital ratio (T1) according to CRR 307.6 344 346
CET1 ratio according to CRR 1
15.1% 14.9% 15.0%
Tier 1 Capital ratio according to CRR1 15.1% 14.9% 15.0%
Total Capital ratio according to CRR 17.8% 17.0% 16.8%
1
RLBV does not have any Additional Tier 1 capital (AT1). The Tier 1 Capital ratio (T1) is therefore equal to CET1 ratio.
2304 Raiffeisenlandesbank Vorarlberg
KEY PERFORMANCE INDICATORS (in million Euro)
Net interest income Operating result
35
35 32.8 34.5 30
31.5 27.3
30 24.9
25
25 22.7
25
25
20
20
1515
15
15
10
10
55
55
0 0
2018 2019 2020 2018 2019 2020
Profit after risk (EBT)1 Cost/Income ratio (in %)
30
80
24.8 25.5 66.2 68.8
25
25 70
70
60
60.6
20
50
50
15
15
12.3 40
10 30
30
20
55
10
10
0 0
2018 2019 2020 2018 2019 2020
1
Due to the directive of the ECB and FMA on the dividend policy, there will be no dividend paid by RBI for the year 2020.
2404 Raiffeisenlandesbank Vorarlberg
STRATEGIC BUSINESS SEGMENTS
Commercial Bank
+ Raiffeisenbank in Bregenz as a retail bank
+ Upmarket corporate business
Service Bank
+ Broad range of services for Raiffeisen Banks
Treasury
+ Financial and capital markets business
+ Liquidity balancing for the Raiffeisen Banks in Vorarlberg
Equity Holdings Management
+ Especially Raiffeisen Bank International AG (2.92%)
Auditing Association
+ Statutory auditing association for the Raiffeisen Banks and cooperative societies in Vorarlberg
2505
Raiffeisen – die erfolgreichste
Bankengruppe in Österreich
Unkonsolidierte Bilanzsumme (31.12.2014): 343 Mrd. Euro
Konsolidierte Bilanzsumme (31.12.2014): 286 Mrd. Euro
Marktanteile:
2014 wurde Raiffeisen in einer repräsentativen Studie („Reader‘s Digest“) zum achten Mal in Folge zur
vertrauenswürdigsten Bankengruppe in Österreich gewählt.
2013 wurde Raiffeisen vierfach mit dem Recommender-Award für exzellente Kundenorientierung
ausgezeichnet.
Paddle Steamer Hohentwiel
FUNDING
2605 Funding
RAIFFEISENLANDESBANK VORARLBERG –
AN ATTRACTIVE ISSUER (as of: September 2021)
Moody’s Rating:
� Issuer rating A3
� Long-term bank deposits A3
� Short term P-2
� Outlook stable
� Counterparty Risk Assessment A2
� Mortgage cover pool Aaa
Issuance programme:
Basic prospectus under Austrian Law
� Approved by the Austrian Financial Market Supervisory Body (FMA)
� Applicable law: Austrian Law
� Listing: Official Market and Vienna MTF (Third Market) on the Vienna Stock Exchange
(Germany available)
2705 Funding
RLBV – AN ACTIVE PLAYER ON THE
FINANCIAL AND CAPITAL MARKETS
Secured and unsecured private
Retail issues
placements
RBGV primary deposits
RBGV primary deposits (7.4 billion EUR) as a stable source for refinancing
Interbank market (Sub)-benchmark issues
2805 Funding
FUNDING MIX OF RAIFFEISENLANDESBANK VORARLBERG
- OWN ISSUES OF SECURITIES
� Combination of retail funding and Issue categories (in million EUR)
capital market issues
� Formats: Bearer bonds, registered bonds
and promissory note loans
Secured
� Issues with a total volume of 2.8 billion EUR 2,109
Retail
140
Unsecured
600
2905 Funding
LONG-TERM REFINANCING OF
RAIFFEISENLANDESBANK VORARLBERG
Structure of maturities (in million Euro)
600
Retail
33% Secured
128
500 Unsecured
400
43
300
200
100
0
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2043 2045 2047 2048 2049 2052 2054
18
20
3006
Raiffeisen – die erfolgreichste
Bankengruppe in Österreich
Unkonsolidierte Bilanzsumme (31.12.2014): 343 Mrd. Euro
Konsolidierte Bilanzsumme (31.12.2014): 286 Mrd. Euro
Marktanteile:
2014 wurde Raiffeisen in einer repräsentativen Studie („Reader‘s Digest“) zum achten Mal in Folge zur
vertrauenswürdigsten Bankengruppe in Österreich gewählt.
2013 wurde Raiffeisen vierfach mit dem Recommender-Award für exzellente Kundenorientierung
ausgezeichnet.
Bregenz Festival
COVERED BONDS
3106 Covered Bonds
LEGAL BASES
Covered Bonds in Austria
Pfandbriefe Fundierte Bankschuldverschreibung
(Covered Bond)
Gesetz betreffend Fundierte
Hypothekenbankgesetz Pfandbriefgesetz
Bankschuldverschreibungen
(Mortgage Banking Act 1899) (Pfandbrief Law 1927) von 1905 (Law on Covered Bonds)
State Mortgage Banks
Erste Group Bank Bank Austria
(Landeshypothekenbanken)
Currently three legal bases for Covered Bonds in Austria
Almost identical in their regulatory effects
As part of the EU-wide harmonisation of debentures and covered bond regulations, a revision and
consolidation of the laws is currently in progress.
3206 Covered Bonds
MANAGEMENT OF COVER POOL
� RLBV is running a mortgage cover pool.
� Loans recognised as cover assets with a max. lending limit of 60% of the market value of the mortgage
cover pool.
� in fact, no overdue receivables
� Fiduciary contracts between RLBV and the Raiffeisen Banks allow for the generation of a very broad spread
of cover assets.
� The proper coverage is regularly audited by an independent cover pool monitor (Regierungskommissär).
� Reporting in accordance with the international criteria
� Regular investor reports on the website (www.rlbv.at/en/coverpool)
3306 Covered Bonds
MORTGAGE COVER POOL - OVERVIEW (as of: March 2021)
Total value of cover assets 2,647.7 million Euro
Total value of issues in circulation 2,173.5 Mio. Euro
Nominal over-collateralisation (total cover/issues in circulation in %) 22%
Minimum over-collateralisation Moody’s1 13.0%
Collateral Score1 7.8%
Collateral Risk 1
5.2%
Market Risk 1
10.7%
Number of issues 47
Average issue volume 46.2 million Euro
Weighted average LTV as per rating agency definition2 54.3%
Lending limit 60%
Number of covered loans 16,231
Number of debtors 12,866
Average loan balance 16.055 Euro
Median loan balance 112.054 Euro
Largest loan 9.7 million Euro
Share of 10 biggest loans 2.2%
Currency breakdown 98.6% EUR, 1.4% CHF
1
as per Moody’s performance overview dated 31/12/2020
2
LTV definition rating agency calculation: (total receivables per borrower unit + total high-ranking mortgages)/total current value of real estate
3406 Covered Bonds
MORTGAGE COVER POOL
Breakdown by states (regional distribution of the total cover assets, as of: March 2021)
Austrian cover pool Source of cover assets
Vorarlberg
100%
Raiffeisen Banks in
Vorarlberg 91.1%
RLBV 8.9%
3506 Covered Bonds
MORTGAGE COVER POOL (as of: March 2021)
Value breakdown (in thousand Euro) Interest type
80
71%
42% 70 70
60
30 50 50
40
18% 29%
16% 30 30
14%
10
20
6%
4% 10 10
0- 100- 250- 500- 750- >1,000
0
fixed variable
100 250 500 750 1,000
3606 Covered Bonds
MORTGAGE COVER POOL (as of: March 2021)
Seasoning consolidated
(volume in million Euro) Remaining term (in years)
1000
1000 25
25 24% 24%
831
800
800 782 20
18%
618 15%
600
600 15
15
12%
400
400 10
313
5%
200
200 55
104 2%
0 0
120m 30
3706 Covered Bonds
MORTGAGE COVER POOL (as of: March 2021)
Repayment type LTV breakdown (in percent of cover assets,
as per rating agency definition)
100 95% 30% 30%
30
30
80 80 25 24%
20
20
60
15
40 40
10%
10
10
20 5 4%
5%
0 0
bullet amortising 100
3806 Covered Bonds
MORTGAGE COVER POOL
Breakdown by usage (as of: March 2021)
� Majority of cover pool made up of residential, privately used cover assets
(primary business of Raiffeisen Banks)
in million Euro
Residential properties Residential properties 2,016 76%
76.0% of which private use 1,937 73%
of which subsidised developments 52 2%
of which commercial use 26 1%
Commercial properties 632 24%
of which tourism/hotel 218 8%
of which industrial buildings 123 5%
mixed use 58 2%
of which farming 37 1%
of which office buildings 21 1%
Commercial properties of which retail trade 14 1%
24.0% other 162 6%
3906 Covered Bonds
CONCLUSION
� Raiffeisen Banking Group Vorarlberg:
� Strong market position and convincing sales force: 16 local Raiffeisen Banks in Vorarlberg and the
RLBV manage the cover pool
� The Lake of Constance region is one of the top regions in Europe
� CET1 ratio 31/12/2020: RLBV 15.7% or RBGV (L-IPS) 31/12/2020: 17.4%
� 100% Austrian cover pool:
� Moody’s Rating: Aaa
� Minimum over-collateralisation Moody's: 13.0%
� High quality cover pool with high granularity:
– 16,231 mortgage loans
– approx. 3/4 of cover assets are residential properties
– 10 largest loans account for only 2.2%
� Share of loans denominated in CHF only 1.4% and declining - no new loans in foreign currency
� Successful issuer on the public capital market:
� Benchmark debut in September 2018: Issue of a EUR 500 million 7-year covered bond
� Placement of a secured 15-year sub-benchmark in November 2019 and March 2021
� All issues were well received by the capital markets with significant oversubscriptions
� Issue of further covered (sub-)benchmarks are planned in the next years
4007
Raiffeisen – die erfolgreichste
Bankengruppe in Österreich
Unkonsolidierte Bilanzsumme (31.12.2014): 343 Mrd. Euro
Konsolidierte Bilanzsumme (31.12.2014): 286 Mrd. Euro
Marktanteile:
2014 wurde Raiffeisen in einer repräsentativen Studie („Reader‘s Digest“) zum achten Mal in Folge zur
vertrauenswürdigsten Bankengruppe in Österreich gewählt.
2013 wurde Raiffeisen vierfach mit dem Recommender-Award für exzellente Kundenorientierung
ausgezeichnet.
Raiffeisenbank in Bregenz
INVESTOR RELATIONS
4107 Covered Bonds
MORE INFORMATION
www.rlbv.at/en/investorrelations
4207 Covered Bonds
CONTACT
General
� Raiffeisenlandesbank Vorarlberg
Rheinstraße 11, 6900 Bregenz, Austria
T: +43 5574 405-0
info@raiba.at
Management Board
� Wilfried Hopfner
Chief Executive Officer
T: +43 5574 405-201
wilfried.hopfner@raiba.at
� Jürgen Kessler
Deputy Chief Executive Officer
T: +43 5574 405-600
juergen.kessler@raiba.at
� Michael Alge
Deputy Chief Executive Officer
T: +43 5574 405-590
michael.alge@raiba.at Michael Alge, Wilfried Hopfner, Jürgen Kessler (from left)
4307 Covered Bonds
CONTACT
Treasury/Investor Relations
� Gebhard Erath � Andreas Boschi
Head of Financial and Capital Markets Financial and Capital Markets, Treasury
T: +43 5574 405-323 | M: +43 664 571 7 587 T: +43 5574 405-658
gebhard.erath@raiba.at andreas.boschi@raiba.at
� Bertram Loretz � Stefan Westermair
Financial and Capital Markets, Head of Treasury Financial and Capital Markets, Treasury
T: +43 5574 405-543 | M: +43 664 153 4 957 T: +43 5574 405-539
bertram.loretz@raiba.at stefan.westermair@raiba.at
� Robin Albel � Gjevalin Markaj
Financial and Capital Markets, Deputy Head of Treasury Financial and Capital Markets, Treasury
T: +43 5574 405-610 | M: +43 664 855 2 116 T: +43 5574 405-619
robin.albel@raiba.at gjevalin.markaj@raiba.at
� Constantin Ernst
Financial and Capital Markets, Treasury
T: +43 5574 405-326
constantin.ernst@raiba.at
4408
Raiffeisen – die erfolgreichste
Bankengruppe in Österreich
Unkonsolidierte Bilanzsumme (31.12.2014): 343 Mrd. Euro
Konsolidierte Bilanzsumme (31.12.2014): 286 Mrd. Euro
Marktanteile:
2014 wurde Raiffeisen in einer repräsentativen Studie („Reader‘s Digest“) zum achten Mal in Folge zur
vertrauenswürdigsten Bankengruppe in Österreich gewählt.
2013 wurde Raiffeisen vierfach mit dem Recommender-Award für exzellente Kundenorientierung
ausgezeichnet.
Alp "Schöner Mann", Hohenems
ANNEX
4508 Annex
RAIFFEISENLANDESBANK VORARLBERG –
FINANCIAL STATEMENT (UGB*)
Assets 31/12/2018 31/12/2019 31/12/2020
EUR EUR EUR
1. Cash on hand, balances at central banks and post office banks 271,677 95,493 622,952
2. Public sector debt instruments and bills of exchange eligible for refinancing at central banks 671,592 454,810 602,370
3. Receivables from banks 2,615,702 2,628,851 2,599,188
4. Receivables from customers 1,526,183 1,659,115 1,647,709
5. Bonds and other fixed-interest securities 1,208,931 1,181,620 1,239,416
6. Shares and other non-fixed-interest securities 27,930 32,349 23,644
7. Participations 170,865 171,323 171,989
8. Shares in affiliated companies 8,850 8,248 8,248
9. Intangible assets 218 327 328
10. Tangible fixed assets 35,081 39,396 37,695
11. Own stocks or shares as well as shares in companies with controlling or majority holdings 0 0 0
12. Other assets 41,111 30,171 33,606
13. Subscribed capital called but not yet paid 0 0 0
14. Prepaid expenses and accruals 6,130 10,131 8,941
15. Deferred taxes 19,324 19,324 20,781
Total Assets 6,603,591 6,422,630 7,016,866
II. Liabilities 31/12/2018 31/12/2019 31/12/2020
EUR EUR EUR
1. Bank liabilities 3,216,487 2,869,626 3,696,223
2. Liabilities with customers 807,063 706,424 693,465
3. Securitised liabilities 2,175,401 2,416,619 2,193,316
4. Other liabilities 53,558 32,866 24,297
5. Prepaid expenses/accruals 5,949 9,442 8,438
6. Provisions 21,854 24,959 27,953
6a. Funds for general banking risks 0 0 0
7. Supplementary capital per Part 2 Title I Chapter 4 of Regulation (EU) No. 575/2013 0 0 0
8. Additional Tier 1 Capital per Part 2 Title I Chapter 3 of Regulation (EU) No. 575/2013 55,833 61,800 62,336
9. Subscribed capital 22,109 23,541 23,541
10. Capital reserves 19,383 35,854 37,462
11. Profit & Loss reserves 183,457 198,269 201,624
12. Liability reserves per Section 57 Subs. 5 Austrian Banking Act (BWG) 35,006 35,006 35,006
13. Net income for the year / Net loss for the year 7,492 8,228 13,583
Total Liabilities 6,603,591 6,422,630 7,016,866
46
in thousand Euro / *Austrian Commercial Code08 Annex
RAIFFEISENLANDESBANK VORARLBERG –
PROFIT AND LOSS ACCOUNT (UGB)
III. Profit and Loss Account 2019 2020
EUR EUR
1. Interest and similar income 37,924 36,336
2. Interest and similar expenses -6,450 -1,820
I. Net Interest Income 31,473 34,515
3. Income from securities and equity holdings 13,428 4,248
4. Commission income 12,217 14,018
5. Commission expenses -2,557 -3,674
6. Revenue from / Expenditure on financial transactions 564 529
7. Other operating income 18,628 23,011
II. Operating Income 73,754 72,647
8. General administrative expenditure -43,867 -44,463
9. Adjustments to assets in Asset Items 9 and 10 -2,269 -2,309
10. Other operating expenses -2,719 -3,218
III. Operating Expenses -48,854 -49,989
IV. Operating Result 24,899 22,658
11./12. Balance of value adjustments to liabilities and allocations to provisions for contingent liabilities and allocations to credit risks as well as
-1,891 -10,900
earnings from the release of value adjustments to liabilities and provisions for contingent liabilities and credit risks
13./14. Balance of value adjustments to securities valued as financial assets and to participations, as well as earnings from the value
2,474 517
adjustments to securities valued as financial assets and to participations
V. Result of Normal Business Operations 25,482 12,274
15. Extraordinary income 0 0
16. Extraordinary expenditure 0 0
17. Extraordinary result (sub-total of Items 15 and 16) 0 0
18. Taxes on income -1,587 -2,360
19. Other taxes unless shown in Item 18 -1,444 -1,204
VI. Annual Net Profit / Loss 22,451 8,710
20. Movements in reserves -14,417 -3,355
VII. Annual Profit / Loss 8,034 5,355
21. Profit / Loss brought forward 194 8,228
VIII. Net Profit / Net Loss 8,228 13,583
in thousand Euro
4708 Annex
RLBV LOAN PORTFOLIO 1.8 BILLION EUR (as of: March 2021)
1.3% Energy supply
1.3% Hospitality and catering
2.8% Traffic and logistics
4.4% Healthcare and social services
5.2% Public administration and social insurance
6.2% Other
6.6% Contractors, scientific and technical services
7.2% Financial and insurance services
9.1% Employed customers
9.8% Construction
11.3% Trade; maintenance and repair of motor vehicles
11.5% Manufacturing
23.7% Real estate
and housing
0 5 10
NPL 15
Coverage Ratio 1 20 Coverage Ratio 2 25
31/12/2019 1.93% 41.70% 90.90%
31/12/2020 2.91% 46.82% 96.36%
30/03/2021 2.76% 44.88% 92.83%
4808 Annex
RLBV LOAN PORTFOLIO 1.8 BILLION EUR (as of: March 2021)
Loan book by current ratings
Average
Ba1 to B1 Poor
20.9% B2 bis Ca
1.2%
In default
C
2.8%
Excellent to good
Aaa to Baa3
75.2%
4908 Annex
RLBV SECURITIES PORTFOLIO 2.1 BILLION EUR (as of: March 2021)
Loan book by country-specific economic risk
Austria 60.16%
France 10.34%
European Financial Stability Fund 2.39%
Germany 6.19% 0.24%
1.21%
European Investment Bank 4.15%
Netherlands 4.37% 1.65%
Belgium 1.49%
Norway 1.65%
Poland 1.59% 0.14%
Spain 2.19%
Other European institutions 1.56% 4.37%
Luxembourg 0.10% 0.71%
1.49% 1.59%
Finland 1.21% 6.19%
Italy 0.48% 0.33%
0.10% 0.22%
Denmark 0.14%
60.16%
Sweden 0.24% 10.34%
European Stability Mechanism 0.48%
Ireland 0.71% 0.48%
Slovakia 0.22% 2.19%
Czech Republic 0.33%
5008 Annex
RLBV SECURITIES PORTFOLIO 2.14 BILLION EUR (as of: March 2021)
Loan book by current ratings
not rated
0.65%
AAA
34.64%
BBB
10.14%
A
18.82%
AA
35.76%
5108 Annex
LEGAL COMPARISON
COVERED BONDS
Austria Germany
Strong internal guidance
Specific legal regulations yes yes by the implementation
regulations in the
Separate cover pools (public, mortgages over real property) yes1 yes German Law on Covered
Bonds
Cover register yes yes
Limited to European cover assets2 yes no
Statutory minimum over-collateralisation yes yes
Fiduciary and/or cover pool monitor yes yes
Insolvency procedure prescribed by law yes yes
Over-collateralisation at current values yes3 yes
1
not mandatory, only voluntary
2
limited to EEC (European Economic Area) and Switzerland
3
present value cover voluntary – option available as per issuer's statutes
5208 Annex
REAL ESTATE MARKET
Average prices for buildable land 2019
8-25 Euro/m²
26-75 Euro/m²
76-175 Euro/m²
176-375 Euro/m²
376-1,713 Euro/m²
Results in districts with
low transaction volumes
are not represented
All results are median values.
5308 Annex
REAL ESTATE MARKET
Average apartment prices 2019
880-1,500 Euro/m²
1,501-2,500 Euro/m²
2,501-3,500 Euro/m²
3,501-4,500 Euro/m²
4,500-10,649 Euro/m²
Results in districts with
low transaction volumes
are not represented
All results are median values.
5408 Annex
DISCLAIMER
This is a marketing notification from Raiffeisenlandesbank Vorarlberg Waren- und Revisionsverband rGenmbH, Rheinstrasse 11, 6900 Bregenz (hereafter: RLBV). It is
expressly stated that investments in financial instruments are exposed to the risk of price fluctuations or price losses or even total losses. The presentation
is for informational purposes only and does not constitute an offer, a recommendation to buy or sell, a financial analysis/investment analysis or a product recommen-
dation. The recipients of this presentation acknowledge that, despite careful research, no liability in connection with this presentation shall be assumed by RLBV, its
officers, employees or advisers, and is thus expressly excluded. The actual presentation, as well as any additional verbal or written information provided in this context
(collectively, "Information"), are based on preliminary, general information available to RLBV at the time of preparation. All data used for this presentation are based on
the knowledge and the market assessment of the persons entrusted with the production on the given date.
This document describes the general economic/political market environment or, respectively, depicts general corporate data without making any recommendation
thereby in terms of an investment decision. It has not been prepared in compliance with legislation promoting independence from financial analyses and is not
subject to the prohibition of trading following the release of financial analyses. The models and data included in this presentation do not contain any statements with
regard to future performance and do not present scenarios or simulations; they only serve to provide non-binding information and are not a substitute for consultation.
Past performance is in no way indicative of future performance and, particularly, this information is not a reliable indicator of future results. Investors must make their
own assessment concerning the risks and benefits associated with the investment opportunities referred to in this document. Before acquiring securities, find out about
the associated opportunities and risks from your investment adviser. As of 02/2021
Sources: Slide 04: Österreichische Bundesfinanzierungsagentur (Austrian Federal Financing Agency) | Slide 05: Land Vorarlberg, WKO/Statistik Austria/Eurostat,
Statistik Austria/Statistische Ämter des Bundes und der Länder (Statistical Offices of the Federation and the States) | Slide 07: Statistik Austria | Slide 08: Statistik
Austria | Slide 10: Statistik Austria & Federal Statistical Office | Slide 13: Retail Banking Report 2019 Integral and OeNB | Slide 33: Österreichisches Pfandbriefforum
(Austrian Covered Bond Forum)
Pictures: Udo Mittelberger (Slide 22: RLBV Bregenz building), iStock photo (Slide 01: Rhine Valley Vorarlberg; Slide 11: aerial view of Vienna; Slide 14: Bregenzerwald -
Au;), Dietmar Walser (Slide 03: Liebherr-Werk Nenzing GmbH; Slide 26: Paddle Steamer Hohentwiel; Slide 45: Alp "Schöner Mann", Hohenems), Statistik Austria (Slide
53: average prices for buildable land Austria; Slide 54: average apartment prices Austria; Slide 9: average house prices), RLBV PR and Advertising (Slide 13: collage
of Raiffeisen testimonials; Slide 41: Raiffeisenbank in Bregenz; Slide: 31: Bregenz Festival)
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