Raiffeisen Bank International To Hasten Business Reduction in Russia

Raiffeisen Bank International AG (RBI) anticipates a directive from the European Central Bank (ECB) to expedite its business downsizing in Russia, ongoing since February 2022. The bank expects to significantly reduce customer loans and international payments from Russia by 2026, targeting a decrease by up to 65% compared to third quarter levels of the previous year. These measures exceed RBI's initial reduction plans, potentially complicating the sale of its Russian unit, AO Raiffeisenbank.

The ongoing geopolitical tensions and increased sanction compliance demands have prompted RBI to take considerable steps to safeguard its capital and liquidity positions. The ECB’s forthcoming intensified requirements underscore a strategic shift that could impact RBI's operational flexibility in Russia. RBI remains focused on the deconsolidation of AO Raiffeisenbank, looking to achieve this through a potential sale.