Raiffeisen called it unlikely that the group would leave Russia in 2023
[ad_1]
Austrian departure Raiffeisen Bank International (RBI) from Russia is unlikely this year, said group CEO Johann Strobl.
“We previously informed you about the possible date of the allocation – December 31, which today seems very unlikely,” said the head of the group, his words brought ORF portal.
He clarified that the bank must exhaust its sale options before deciding on a spin-off. According to the CEO, a sale or spin-off is possible, but the group needs numerous regulatory approvals in Russia and Europe.
Strobl said in May that the group plans to complete the separation of the bank’s Russian business by the end of the third quarter of 2023.
RBI announced its intention to minimize its presence in Russia in March. The company is considering two scenarios for winding down the business – selling a subsidiary or withdrawing an asset from the group. On September 5, Raiffeisenbank sent several applications to Rospatent for registration of new trademarks in black and white and color versions – “R Bank” and “R Bank”, wrote “Vedomosti”. The list of branded goods and services includes applications, ATMs, banking services, insurance, etc.
Earlier, the RBI published IFRS reports, according to which the company’s net commission income fell by 40.3%, amounting to 667 million euros in the third quarter. The group explained that this is due to a decrease in transaction income and margins on foreign currency transactions in Russia.
[ad_2]
Source link
