The Austrian group Raiffeisen Bank International (RBI) is considering leaving the Russian market. The branch of the bank in Russia will continue to work.
“This unprecedented situation makes RBI rethink its participation in the Russian market. Therefore, we are evaluating all strategic options for the future of Raiffeisen Bank, including an elaborate exit from Russia,” the company says.
The Russian structure stated that it would continue to work even in this case.
“Raiffeisen Bank will continue to work on the Russian market, regardless of the format of participation of the RBI group in its capital. In addition, the review of RBI participation is now considered solely as a last resort, no specific decisions have been made. We provide all financial services in full and are ready to ensure the uninterrupted availability of transactions for our clients in order to protect their interests as much as possible. Our safety margin will allow us to feel confident in any crisis situation,” the bank told the Kommersant newspaper.
RBI subsidiaries generally continue to operate in accordance with local and international laws, subject to sanctions restrictions in the event of RBI's departure. The company notes that "RBI's subsidiaries are self-financed, well capitalized and have little cross-border exposure to Russia."
RBI in Russia is represented by a structural unit of Raiffeisen Bank, as well as leasing, insurance and management companies. At the end of 2021, Raiffeisen Bank ranked 10th in terms of assets in the Interfax-100 rating.
Earlier, the German banks Commerzbank and Deutsche Bank, as well as the American JP Morgan Chase and Goldman Sachs Group, announced the termination of work in Russia.
bbabo.Net