(ANSA) – MILAN, MARCH 17 – Raiffeisen Bank, one of the European banks most exposed to Russia, is considering leaving the country due to the war in Ukraine. “This unprecedented situation prompts RBI to consider its position in Russia. We are evaluating all strategic options for the future of Raiffeisenbank Russia, up to a carefully managed exit of Raiffeisenbank,” CEO Johann Strobl said in a statement.
Raiffesenbank Russia is the tenth bank in the country by assets and the eighth by retail accounts, with more than 9,300 employees, 115 branches and 1,600 billion rubles of assets at the end of 2021. The Austrian group, present in 13 countries of Central Europe and from the East, has assets in Russia of 22.9 billion euros, an exposure of 354 million to sanctioned financial institutions and 119 million euros to other sanctioned companies, in addition to 4.4 billion of exposure to the Ukraine, where it is the country’s fifth largest bank.
As a result of the impacts of the war, Raiffeisen, which generates a third of its profits in Russia, announced the suspension of the dividend in early March. This extends the list of credit institutions, including the Italian companies Intesa and Unicredit, which are reviewing their presence in Russia or who have announced a departure from the country. (HANDLE).
Source: Ansa
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