Raiffeisenbank responded to the National Bank of Ukraine on the demand to leave the Russian market
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Raiffeisenbank, in response to the request of the National Bank of Ukraine (NBU), announced the difficulties associated with leaving the Russian market, while he assured that the credit institution was considering all strategic opportunities. This was reported by the press service of the Ukrainian branch of the bank.
“RBI is considering all strategic options for the future of Raiffeisenbank Russia, including a carefully planned exit. However, given the complexity of the situation, including the restrictive measures established by the Russian Federation, this process continues,” the statement said.
The bank also said that it had already reduced lending in Russia, as a result of which the volume of the loan portfolio decreased by a quarter.
Earlier, the NBU demanded that international banks finally leave Russia. With such a demand, Kyiv turned to Raiffeisen Bank International, Credit Agricole, Intesa Sanpaolo, as well as OTP Bank and ING Bank.
On March 17, the Austrian RBI, the parent company of the Russian Raiffeisenbank, allowed a “carefully considered” exit from the capital of the Russian subsidiary. On May 4, the head of the Austrian RBI, Johann Strobl, said that there were several potential applicants for the purchase of the Russian subsidiary, without disclosing their names.
Russian President Vladimir Putin approved a list of 45 banks in respect of which transactions with their shares or shares in the authorized capital are prohibited at the end of October 2022. The list includes two systemically important Raiffeisenbank, Unicredit Bank, “Deutsche Bank”, Commerzbank, Citibank, OTP Bank, Intesa Bank, as well as banks of leaders in the IT and e-commerce sectors (“Yandex”, VK, Ozon).
Transactions made in violation of the decree are considered null and void, and their owners are deprived of the rights to their shares, the document said. At the same time, operations can be removed from the ban on the basis of a special decision of the president.
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