RBI allows rebranding of Raiffeisenbank after its sale or spin-off
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The Austrian banking group Raiffeisen Bank International (RBI) considers it likely that the brand of its subsidiary in Russia, Raiffeisenbank, will change after its separation from the group or sale. About this newspaper Kleine Zeitung reported the RBI press service.
“Most likely, during the sale or separation (of a subsidiary from the RBI.— “Ъ”) rebranding will occur, and you need to be prepared for any circumstances. The decision on what trademark this could be has not yet been made, and, of course, this also depends on the possible buyer. However, the current trademark application does not indicate an imminent deal,” Kleine Zeitung quotes a bank representative as saying.
In March, the European Central Bank demanded from the RBI to close its business in Russia, Reuters reported, citing sources. That same month the bank announced about plans to curtail business activity in Russia, as well as sell the local division or withdraw it from the group structure.
In August, RBI Governor Johann Strobl said the group had postponed the spin-off or sale of the Russian business to the end of the year. At the beginning of September Raiffeisenbank filed application for registration of a new logo in Russia. The bank cited the need to expand the capabilities of trademarks as the reason for updating the logos.
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