this post was submitted on 22 Apr 2024
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Austria's Raiffeisenbank International expects 'request' by European regulator to accelerate business reduction in Russia (www.rbinternational.com)
submitted 1 year ago by 0x815@feddit.de to c/europe@feddit.de
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Cross posted from: https://feddit.de/post/11352731

Raiffeisen Bank International (RBI) expects to be told by European Central Bank (ECB) to slash lending and payments involving Russia, the Austrian bank says on its website.

Under the current draft of the requirements, loans to customers would decrease up to 65% by 2026 compared to the third quarter of 2023, as would international payments originating from Russia.

Austria's Raiffeisen, the biggest Western bank in Russia, did not say what it expects the new ECB’s draft requirements to be, but says they "go far beyond RBI’s own plans [to reduce the Russian business]" and may "adversely impact RBI’s options to sell [the Russian subsidiary] AO Raiffeisenbank".

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