The bank is now examining all options for doing business in the country – “up to and including a carefully managed exit from Raiffeisenbank in Russia,” said RBI boss Johann Strobl in a broadcast on Thursday. “This unprecedented situation is causing RBI to reconsider its position in Russia.”
RBI and its subsidiaries would continue to act “in accordance with local and international sanctions laws.” The bank also pointed out that the subsidiaries are self-financed and well capitalized.
RBI is heavily invested in Russia. Business in the country most recently accounted for almost a third of the group’s net profit. The subsidiary has equity of EUR 2.4 billion and a credit volume of EUR 11.6 billion. The total exposure is EUR 22.9 billion.
Source: Nachrichten
