Raiffeisenbank’s parent company, the Austrian RBI, allowed a “carefully considered” exit from the capital of its Russian subsidiary. Raiffeisenbank intends to continue operating on the Russian market regardless of RBI’s decision
Photo: Oleg Yakovlev / RBC
Austria’s Raiffeisen Bank International (RBI), the parent company of Russia-based Raiffeisenbank, is evaluating various “strategic options for the future”, including a “carefully considered exit” from Russia. This is stated in message groups.
“The war in Ukraine has a devastating impact on the population and economy of the country. This unprecedented situation leads the RBI to reflect on its position in Russia. Therefore, we are evaluating all strategic options for the future of Raiffeisenbank in Russia, including a carefully considered exit from Raiffeisenbank in Russia,” said RBI CEO Johann Strobl.
According to him, the group and its subsidiaries continue to work taking into account the existing sanctions, market requirements and their own code. RBI’s subsidiaries are self-financed, well capitalized and have negligible cross-border exposure in Russia.
The review of RBI’s participation is now considered “only as a last resort”, no specific decisions have been made, RBC was told in the press service of Raiffeisenbank. “Raiffeisenbank will continue to work on the Russian market, regardless of the format of the participation of the RBI group in its capital,” the press service of the financial organization assured, adding that now the bank provides all services in full and is ready to ensure their availability in the future.
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