Raiffeisen Bank International AG (RBI) has successfully concluded the sale of Priorbank JSC to Soven 1 Holding.

CEO Johann Strobl emphasized the sale as a significant step in reducing risk exposure in Eastern Europe. He expressed gratitude to Priorbank's staff for their dedication and service to customers in Belarus since 2003.

The sale is expected to impact the Group's Common Equity Tier 1 ratio, excluding Russia, by a reduction of 5 basis points by the end of 2024. This adjustment reflects the difference between the sale proceeds and the book value of the equity.

Furthermore, the Group will recognize a negative effect of approximately EUR 830 million on its results from discontinued operations. Around EUR 480 million had previously been deducted from Group equity due to the reclassification of items in other comprehensive income. The deconsolidation of Priorbank will be effective from the closing date.