Raiffeisen Bank plans to sell the "daughter" in Russia or withdraw it from the structure of the group

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AK&M 30 March 2023 16:09

The Austrian Raiffeisen Bank International (RBI) plans to sell a subsidiary bank in Russia or to separate Raiffeisenbank in Russia from the RBI group. This is reported by Raiffeisen Bank International.

Raiffeisenbank will continue some banking operations in Russia in accordance with the terms of its banking license and will support customers, including those affected by the decline in business activity in Russia, the report emphasizes.

After the RBI Group's decision to further reduce business activity in Russia, Raiffeisenbank Russia will continue to reduce loans to customers and reduce the volume of transactions in foreign currency.

Raiffeisenbank JSC is a subsidiary of Raiffeisen Bank International Group, a leading corporate and investment bank in the financial markets of Austria. RBI Group operates an extensive network of subsidiary banks, leasing companies and a wide range of providers of other specialized financial services in 14 markets.