Raiffeisen Bank International is included in the list of “war sponsors” in Ukraine
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The National Agency for the Prevention of Corruption of Ukraine has included the Austrian banking group Raiffeisen Bank International in the list of international “sponsors of the war” for the continuation of work in Russia and the recognition of the DPR and LPR through its representative office in the Russian Federation, the agency’s press service reported in Telegram.
The NAPC includes foreign individuals and organizations in the “list of international sponsors of the war”, whom the agency suspects of financial assistance to Russia in conducting a military operation in Ukraine. Currently, the agency has included in the list, among others, Procter & Gamble, Leroy Merlin, Bonduelle, Yves Rocher, Auchan Holding and Metro AG.
“The bank took 200% advantage of the sanctions that led to the exit of its competitors from the Russian market. Thus, in 2022, the bank paid 4.8 times more to the Russian budget than in the entire pre-war year. The Russian division of Raiffeisen Bank paid €559 million to the Russian budget. This is equal to the cost of about 95 Kalibr missiles, with which the terrorist state regularly fires on peaceful Ukrainian cities, ”the ministry said in a statement.
According to the agency, the National Bank of Ukraine stated that there was no progress in the decision to withdraw the bank from the Russian market. In addition, NAPC claims that Raiffeisenbank (RBI’s subsidiary in the Russian Federation) provides favorable lending terms to Russian military personnel in Ukraine (loan holidays and preferential loans). “In addition, the bank plays along with Russian propaganda, calling the war a “special military operation,” the agency added.
According to the Financial Times, Raiffeisenbank serves 40-50% of Russia’s payments with other countries. Also, the Russian division brings the group about half of all profits. In February, the US Treasury began an investigation into the Austrian group Raiffeisen Bank International in connection with its Russian business. According to the Austrian publication Der Standard, RBI studies the possibility of exchanging its Russian subsidiary with Sberbank for the assets of Sberbank Europe. In 2022, Raiffeisenbank increased profit under RAS by 3.6 times, to more than 141 billion rubles, follows from the statements published in March. This is the second result in the entire banking system after Sberbank.
Read more about the financial results of Raiffeisenbank in the material “Raiffeisenbank became the second in Russia”.
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