Raiffeisen is unlikely to leave Russia in 2023 – Kommersant
[ad_1]
Raiffeisen Bank International (RBI) most likely will not have time to complete the process of exiting Russia in 2023, said RBI Governor Johann Strobl. According to him, the company is primarily considering the option of selling the business. He named the withdrawal of the Russian subsidiary from the international group as a backup option.
“We previously mentioned December 31 as a possible date by which the group would exit, but now this seems unlikely,” Mr. Strobl said at a press call with investors (quoted by “RIA News”).
In March, the European Central Bank ordered Raiffeisen Bank International to close its business in Russia, after which the bank announced plans to sell the local unit or withdraw it from the group structure. In August, Mr. Strobl said the company had postponed this process until the end of the year. As follows from the reports published today, Raiffeisen’s profit in Russia for January-September 2023 decreased by 28%.
Read more in the Kommersant FM article. “Leaving added hassle”.
[ad_2]
Source link
