Raiffeisen Bank has decided the fate of its Russian activities

The Austrian conglomerate Raiffeisen Bank International (RBI) has announced its intention to sell its Russian assets or withdraw them from the group. On this subject informed RBI Press Office.
The press release highlights that Raiffeisen Bank is considering selling or splitting its Russian subsidiary, Raiffeisenbank, into a new structure. As can be seen from the message, from the beginning of the hostilities in Ukraine, RBI “assessed all options for the future” of a credit institution in Russia, until the exit from its capital.
The RBI report noted that the Austrian group and its shareholders found themselves in an “unprecedented situation”. At the same time, the company indicates that it “is aware of the urgency to act” caused by the military operations in Ukraine.
RBI also signals that it will continue to reduce business activity in Russia. We are talking about reducing the volume of loans and operations in foreign currencies. This will lead to a decrease in the group’s payment activities and, in particular, in the income of Raiffeisenbank, the company specifies.
“The market conditions for doing business in Russia are very difficult. Local and international laws and regulations governing the sale of businesses in Russia are subject to constant change,” noted Raiffeisen Bank.
Nevertheless, the bank does not yet intend to completely stop its operations in Russia. Raiffeisenbank will continue to carry out “certain banking operations” in the country under the terms of its banking license, RBI notes, and will also provide support to customers, including those affected by the bank’s downturn.
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