Raiffeisen Bank

Business in Russia

Raiffeisenbank is a universal Russian bank, a subsidiary of the Austrian banking group Raiffeisen Bank International. Included in the list of systemically important Russian banks. Raiffeisenbank ranks second in terms of assets in the RBI Group and first in terms of profit. According to information from the Raiffeisen International Group's public reports, at the end of the third quarter of 2022, compared to the end of the first quarter of 2022, the bank's credit exposure in Russia increased by 22%. Growth is observed for both the retail and corporate portfolios. From April 10, Raiffeisenbank refuses to connect new "Salary" service packages. Still operating in Russia with increasing revenue volumes in 2022 vs 2021 (+$665mn or +46%). Austria and RBI, which is also at the centre of a U.S. inquiry over its Russian links, are resisting this in the hope that the war in Ukraine will end soon. By order dated September 13, the Bank of Russia canceled Raiffeisenbank's license to operate as a specialized depository of investment, share investment and non-state pension funds. Austria is seeking to have Raiffeisen Bank International, the biggest Western bank in Russia, struck off a Ukrainian blacklist in return for signing off fresh European Union sanctions on Russia. The National Agency on Corruption Prevention (NACP) temporarily excluded the Austrian Raiffeisen Bank from the list of companies sponsoring Russia's war before consultations (but returned it back later). The United States has threatened to impose sanctions against the Austrian group Raiffeisen Bank International (RBI) for doing business in Russia. Raiffeisen Bank will begin exiting Russia in summer 2024. U.S. warned Raiffeisen access to dollar system could be curbed over Russia. Austria's Raiffeisen Bank International (RBIV.VI), opens new tab, the biggest Western bank in Russia, believes a sale of 60% of its business there is the most likely scenario as it seeks to withdraw from the market, its CEO said. Raiffeisen Bank International AG (RBI) has closed a deal to sell a stake in the Belarusian Priorbank to UAE-based Soven 1 Holding. A Russian court awarded more than 2 billion euros ($2.1 billion) of damages against the biggest Western bank in Russia, Austria's Raiffeisen Bank International, in a landmark ruling underscoring the perils of doing business in Russia. The case, in which lawyers for Raiffeisen accused the court of using intimidation tactics, is one of the most significant rulings against a Western company still operating in Russia, with one of the largest awards of damages yet. Hungarian Prime Minister's Son-in-Law Istvan Tiborc Considers Buying Russia's Raiffeisenbank. Raiffeisen International transferred billions in cash to Russia shortly before the outbreak of the war. Raiffeisen Capital made significant investments in Russian stocks. The Central Bank of the Russian Federation has written off 1.87 billion euros from the correspondent account of the Austrian Raiffeisenbank in favor of the company Rasperia, according to a court decision. Revenue decreased in 2024 vs 2023. Raiffeisen Bank International said that Russia's central bank had debited 174 million euros ($199 million) from the Austrian lender's account to complete the payment of damages imposed by Russia. Austria's Reserve Bank suffers losses after debt write-off over Russian lawsuit Austria's Raiffeisen Bank International suffered losses in the second quarter after a 1.2 billion euro ($1.4 billion) write-off over a Russian lawsuit. The bank's consolidated loss for the quarter was 557 million euros, compared with a profit of 661 million euros a year earlier. "The Arbitration Court of the Northwestern District lifted the arrest of Raiffeisenbank shares imposed in September 2024 by the Arbitration Court of the Kaliningrad Region." In April-July 2025, the Bank of Russia forcibly wrote off about 2.1 billion euros from Raiffeisenbank accounts to pay off claims. Raiffeisen Bank International AG (RBI) said it co

Decision trail

Decision date 29/08/2023 · Reference ↗

The unprecedented situation leads RBI to consider its position in Russia. We are therefore assessing all strategic options for the future of Raiffeisenbank Russia, up to and including a carefully managed exit from Raiffeisenbank in Russia. RBI and its subsidiary banks continue to operate in compliance with local and international sanction laws. The Russian subsidiary of JSC Raiffeisenbank not only officially recognizes the so-called Donetsk and Luhansk "people's republics", but also provides favorable credit terms to the Russian occupiers in Ukraine. Raiffeisen Bank's Russian branch halts opening of new corporate accounts. The National Agency on Corruption Prevention included the Austrian banking group Raiffeisen Bank International in the list of international sponsors of the war for the continuation of the bank's work in Russia and the official recognition of the so-called "DPR" and "LPR". As reported, Raiffeisen paid 4.8 times more to the Russian budget in 2022 than for the entire pre-war year - 559 million euros (~$615million). It should be noted that this is equal to the cost of about 95 Kalibr missiles, with which the terrorist state regularly fires at peaceful Ukrainian cities. In addition, the bank plays along with Russian propaganda, calling the war a "special military operation". Raiffeisen Bank boosts pay for Russian staff by €200mn. Austria's RBI says Russian spin-off unlikely in 2023. Austria is seeking to have Raiffeisen Bank International, the biggest Western bank in Russia, struck off a Ukrainian blacklist in return for signing off fresh European Union sanctions on Russia. The National Agency on Corruption Prevention (NACP) temporarily excluded the Austrian Raiffeisen Bank from the list of companies sponsoring Russia's war before consultations (but returned it back later). Ukraine refuses to take Raiffeisen off Russia war blacklist. Raiffeisen Bank trumpets Russia growth plans in dozens of job ads. The head of Raiffeisen Bank International (RBI), Johan Strobl, said that in the third quarter of 2024, the banking group will begin to comply with the order of the European Central Bank (ECB) to significantly reduce business in Russia. Raiffeisen ceases all outgoing dollar payments from Russia due to US pressure. A Russian court has issued a preliminary injunction, by which shares of AO Raiffeisenbank are subject to a transfer ban with immediate effect. Raiffeisen Bank International AG (“RBI”) is the 100% shareholder of AO Raiffeisenbank. Court refuses to lift arrest on Raiffeisenbank shares. A Russian court on 05.12.2024 rejected an appeal by Raiffeisen Bank International (RBIV.VI), opens a new tab, against the freezing of shares of its local unit in a lawsuit filed by Russian investment company Rasperia, court documents showed. Raiffeisen’s Russian unit received more than 62 million rubles ($620,000) in fees for its services from one Russian chemical company in 2024, bank statements and other documents show. That firm supplied a sanctioned company with ingredients needed for producing military systems, according to the statements. Raiffeisen Bank International, the largest western bank still doing business in Russia, has halted attempts to sell its unit in the country amid a rapprochement between Washington and Moscow. Austrian banking group Raiffeisen Bank International (RBI) has denied reports that the sale of its Russian subsidiary has been suspended. This was reported by the company's press service. Raiffeisen Bank International AG has lost an appeal against a court ruling that ordered it to pay more than 2 billion euros ($2.3 billion) in damages to a company formerly owned by sanctioned Russian billionaire Oleg Deripaska. The EU is preparing to lift sanctions on assets linked to Russian oligarch Oleg Deripaska to compensate Austria's Raiffeisen Bank International for losses incurred for payments made in Russia.

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1. 03/08/2026 — scaling back · Imported from KSE LeaveRussia

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