Gref denies talks between Sberbank and Raiffeisen on asset swap – Kommersant
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Sberbank has not held any asset swap talks with Austrian Raiffeisen Bank International (RBI). This was stated by the head of the financial organization German Gref.
“I don’t know anything about it. As always, someone’s notions, a lot of gossip and rumors are launched. But no negotiations of this kind are or have been conducted,” Mr. Gref said during a press conference following the annual meeting of the bank’s shareholders.
March 15 edition of Der Standard reportedthat Raiffeisen Bank International is exploring the possibility of exchanging its Russian subsidiary, Raiffeisenbank, with Sberbank for the assets of Sberbank Europe. At RBI’s AGM on March 30, Group CEO Johann Strobl explained: “We have accepted the invitation to present theoretical considerations for a possible asset swap, but this is still a theoretical discussion and there is nothing more to say about it.”
Raiffeisenbank is the Russian division of Raiffeisen Bank International. At the end of March, RBI announced its intention to sell or spin off its business in Russia. The bank promised to cut business activity in the country. This process will be expressed in the reduction of the total volume of transactions in foreign currency by Raiffeisenbank, as well as in the slowdown in the rate of issuance of loans. At the end of 2022, the Russian Raiffeisenbank increased profit under RAS by 3.6 times, more than up to 141 billion rubles.
More details – in the publication “Kommersant” “Raiffeisenbank is looking for a way out.”
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