The volume of blocked RBI assets in “C” accounts has reached almost €500 million – Kommersant

The volume of assets of Raiffeisen Bank International (RBI) blocked in Russia in type “C” accounts at the end of 2023 amounted to €477 billion, according to the reporting of the Austrian company. In September, these accounts of the banking group held €396 billion.

“There are financial assets located in Russia with an amortized value of €477 million, representing payments from issuers of local debt instruments, which currently cannot be transferred to foreign investors due to existing US and EU sanctions and are therefore stored in the Russian Deposit Insurance Agency,”— the document says.

The head of the company, Johann Strobl, said that the RBI has accumulated sufficient reserves in the event of a complete deconsolidation of the Russian structure of the bank. He clarified that the group is considering two possible options for leaving Russia – spinning off the business and selling it.

In March, the European Central Bank asked the RBI to close its business in Russia. Following this, the bank announced plans to sell the local unit. RBI Governor Johann Strobl in October saidthat the process of leaving the Russian market will continue in 2024.

More details in the text “Kommersant” “RBI reduces profits from Russia”.

Petr Buzlaev