The Austrian banking group Raiffeisen Bank International continues to work on the sale or spin-off of its Russian subsidiary Raiffeisenbank. Frank media writes about this.
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What is known
But since both options require numerous approvals from various Russian and European authorities, as well as from regulators in these countries, the process is not entirely in the hands of the RBI, which makes it difficult for the group to make a realistic forecast about when it will will complete the deconsolidation of its Russian bank.
Read: Raiffeisen promises to start winding down its business in Russia in the summer
Current capital reserves can fully absorb even a full deconsolidation of the Russian Raiffeisenbank at a hypothetical book value of zero, the group's report states.
In accordance with the requirements of the European Central Bank, the group will further reduce its business in Russia. The first consequences for clients, such as payment restrictions, have already come into force, with additional measures to follow, the group reports.
- Banks
