Raiffeisen Bank International in response to the National Bank of Ukraine announced the difficulties of leaving Russia
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The international group Raiffeisen Bank International, in response to the requirement of the National Bank of Ukraine to leave the Russian market, reported that a “daughter” of RBI operates in the Russian Federation, and it is obliged to obey local laws. Its departure from the Russian market, as explained in the RBI, is hampered by the actions of the Russian authorities.
On January 11, the National Bank of Ukraine stated that it considers it unacceptable that, during the 11th month of hostilities, some international banks have not yet made a final decision to leave Russia. Prior to this edition Der Standard and Kleine Zeitung reported that the Ukrainian authorities demanded sanctions against two top managers of RBI, and the Russian “daughter” of the group provides favorable lending terms to the Russian military.
“Contrary to the information provided on social networks,” the RBI press release dated January 17 states, “we can assure you that RBI, either independently or through its subsidiaries, does not conduct any business activities in the territories of Donetsk and Lugansk regions, as well as Crimean peninsula”.
“RBI is considering all strategic options for the future of Raiffeisenbank of Russia, including a carefully planned exit from the bank. However, given the complexity of the situation, including the restrictive measures established by the Russian Federation, this process continues,” the banking group said in a statement.
Raiffeisen Bank International is represented in Russia by a subsidiary, JSC Raiffeisen Bank. Now it operates as an independent legal entity. March 17, 2022 in the Russian subsidiary reportedthat, despite the actions of the RBI, the organization will continue to work in the Russian Federation. In the fall of 2022, the Bank of Russia obliged credit institutions to provide credit holidays for mobilized citizens.
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