Image: (EPA)
In April, the RBI subsidiary had its best-known outdoor advertising with a gable cross and the lettering “Raiffeisenbank” dismantled on a high-rise building in the center of Moscow.
“There would most likely be a rebranding in the course of a sale or spin-off and you want to be prepared for all circumstances,” said a spokeswoman for Raiffeisen Bank International (RBI) on Monday in response to an APA request. There is still no decision as to which brand that could be and of course this also depends on a possible buyer, she explained. However, the current trademark registration does not indicate an imminent transaction.
New trademarks
The trademarks filed, each featuring a Latin “R” surrounded by an arrow and the word “bank” in either Russian or English, could be used to cover a wide range of financial services, according to official filings. The Russian online media “Frank Media”, which specializes in the banking sector, recalled last Friday that in 2013 Raiffeisenbank Russia had registered a trademark called “R Connect. Come in, it’s open” for online banking, which was no longer used Status formally expired on September 5, 2023. The “R” of the new trademarks was taken from this historic logo.
According to APA research, Raiffeisenbank Russia has not yet secured two obvious Internet domains for a possible appearance as “R Bank”: rbank.ru belongs to Mosoblbank, which has been sanctioned by the USA since 2015, a person who is the owner of r-bank.ru stated that he had no plans to pass on this domain, but that he would be willing to overwrite it for five million rubles (49,700 euros).
International criticism
After international criticism, particularly related to the important role of the unsanctioned Raiffeisenbank Russia in international transfers to and from Russia, the parent company RBI announced in March 2023 that it would seek to sell or spin off its Russian business. However, concrete steps towards implementation, which would at least require the approval of authorities in the EU and Russia, have not been announced; as of the beginning of September, the Russian government commission responsible for a possible sale had not been involved. According to public statements, the main focus is currently on a spin-off, which, according to statements by RBI boss Johann Strobl in the summer, could not take place until the end of December 2023 at the earliest.
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