Ukraine refused to exclude Raiffeisen from the list of “war sponsors” – Kommersant
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Ukraine did not remove the status of “war sponsor” from the Austrian group Raiffeisen Bank International (RBI), sources said Reuters. At the end of 2023 Kyiv suspended this status, since, according to media reports, Vienna blocked the 12th package of sanctions.
Ukrainian officials, in a letter to the RBI in February, asked what the bank was doing to exit Russia. “A few blind spots remain… There is no timeline for the sale,” the letter said. A representative of the Austrian group said that the bank cannot specify the timing of its exit from Russia, as it depends on the decisions of regulatory authorities.
Kyiv also expressed concern that Raiffeisenbank is issuing preferential loans to the Russian military. The credit institution notes that this measure is mandatory in Russia.
The letter ends by noting that the suspended “war sponsor” status remains in effect, but may be lifted upon receipt of “positive news.” The letter was sent by RBI after the group informed Kyiv of its intention to exit Russia by the third quarter of 2024, a source in Kyiv told Reuters.
Austria publicly supports Ukraine in its confrontation with Russia, but Reuters sources claim that Vienna does not want to completely sever long-standing ties with Moscow, hoping that at some stage it will be possible to restore relations. The Austrian government considers it unfair to include the RBI in the list of “war sponsors.” The authorities note that this list, for example, does not include the Italian UniCredit, which continues to actively operate in Russia.
The annual net profit of RBI in Russia in 2023 amounted to more than 56% in the structure of the consolidated net profit of the Austrian group (€1.3 billion for the Raiffeisenbank group in the Russian Federation out of €2.4 billion in total). However, compared to the record year of 2022, the performance of the group’s Russian business decreased. Thus, net interest income decreased by almost 8%, to €1.4 billion. Net commission income fell by 43%, to €1.15 billion. Operating income decreased by 30%, to €2.7 billion.
About Raiffeisen’s intention to leave the Russian Federation – in the Kommersant publication “RBI reduces profits from Russia”.
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