In the article entitled “What is it like to be a banker in Russia during the war?” The media recalled that during four years of the full-scale war of the Russian Federation against Ukraine, the Austrian bank has not solved the problem of leaving the aggressor country.
Unlike other banking structures (for example, Société Générale SA and HSBC Holdings Plc), RBI continues to operate in the Russian Federation and, according to some estimates, has “received considerable profit from this, accumulating billions of dollars,” although it cannot withdraw them from Russia.
The general director of the Austrian bank, Johann Strobl, claims that Raiffeisen Bank International was allegedly looking for buyers for its Russian structures “from the very beginning,” but they could not be found.
Citing a source involved in the “crisis resolution,” Bloomberg claims the bank initially assumed “that the war would quickly end with a Russian victory and everything would return to normal.” But the “conflict” continues.
The media notes that a structural unit of Raiffeisen Bank International also operates in Ukraine, and this “aggravates Strobl’s problems” because he made efforts to ensure the safety of employees due to Russian shelling and the risk of seizure of territories.
Context
On March 23, 2023, the National Agency of Ukraine for the Prevention of Corruption announced that it had added Raiffeisen Bank International to the list of international war sponsors for continuing work in Russia and official recognition of the so-called “DPR” and “LPR” through the group’s representative office in the Russian Federation. According to NAPC, the bank paid 4.8 times more to the Russian budget in 2022 than in the entire pre-war year.
Under pressure from regulators and shareholders, on March 30, the RBI announced that it would reduce business activity in the Russian Federation and intend to work on agreements that will lead to either sale or disconnection and deconsolidation of the Russian Raiffeisenbank from the group.
In May 2024, the management of Raiffeisen Bank International promised start exiting the Russian market already this coming summer, but as of 2026 this has not happened.
