Raiffeisen Bank International (RBI) has completed the sale of its Belarusian subsidiary, Priorbank JSC, to Emirati firm Soven 1 Holding.
The transaction was confirmed after receiving the necessary official approvals, signifying RBI's complete exit from the Belarusian market.
The divestiture is expected to have a significant financial impact, with the bank estimating a burden of approximately EUR 830 million on its consolidated results for the year.
The purchase price details have not been disclosed.
This decision by RBI reflects its strategic response to the changing market conditions in Belarus.