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Protests erupted during Raiffeisen Bank International's Annual General Meeting, focusing on the bank's operations in Russia. An activist shareholder interrupted the meeting, accusing the bank of "warmongering," while CEO Johann Strobl reiterated plans to further reduce Russian business amid ongoing legal disputes with Rasperia. Additionally, the bank faces a €50 million increase in levy costs this year, which has been criticized as a hindrance to economic growth.
During Raiffeisen Bank's Annual General Meeting in Vienna, a shareholder interrupted the proceedings with loud accusations regarding the bank's investments in Russia, claiming they support the ongoing war. Despite attempts by Supervisory Board Chairman Erwin Hameseder to restore order, the meeting was briefly halted. Raiffeisen Bank is in the process of withdrawing from Russia but faces a legal dispute with Rasperia, which is seeking 1.9 billion euros in damages related to frozen investments.
RBI's Annual General Meeting faced protests, with activists accusing the bank of "warmongering" and demanding an end to its operations in Russia. Despite these disruptions, RBI reaffirmed its commitment to scaling back its Russian business, while also preparing to seek damages from Rasperia if a court ruling is upheld. In Vienna, RBI shares saw a temporary increase of 1.54%, reaching 26.40 euros.
The Austrian Raiffeisen Association (ÖRV) is launching an information campaign to promote cooperatives in light of the UN's declaration of 2025 as the International Year of Cooperatives. Under the motto "We-Power," the campaign aims to raise awareness of the cooperative model's social and economic benefits, encouraging more people to join. With 1,400 of Austria's 1,800 cooperatives under Raiffeisen, the initiative highlights the importance of local decision-making and community investment, emphasizing that cooperatives can effectively address social issues while fostering regional prosperity.
The Austrian Raiffeisen Association (ÖRV) is gearing up for the International Year of Cooperatives in 2025, aiming to showcase the impact of its 1,400 cooperatives and 2 million members. A high-profile campaign will launch in March to promote sustainable practices and regional contributions, alongside events and a comprehensive Raiffeisen Social Report to highlight societal benefits. Additionally, a nationwide online training course for employees will enhance understanding of cooperative operations, while initiatives for member recruitment and promotion will be emphasized throughout the year.
The Austrian Raiffeisen Association criticizes the government's plan to increase the bank levy, calling it "pure arbitrariness" that will hinder economic recovery. Advocate General Erwin Hameseder argues that the measure will restrict banks' ability to provide loans, essential for growth, while Secretary General Johannes Rehulka contends that successful banks are being unfairly penalized. The association also questions the support for the levy from the OeNB Governor, highlighting a contradiction in promoting higher equity while imposing greater burdens on banks.
Erwin Hameseder, Chairman of Raiffeisen Holding, has been named Austria's most important manager for the second consecutive year, according to Industriemagazin's annual ranking. Hameseder, who has led Raiffeisen-Holding Niederösterreich-Wien since 2012, is recognized for his extensive networking and vision for European independence.Following him are Verbund CEO Michael Strugl in second place and UNIQA CEO Andreas Brandstetter in third, noted for his impactful withdrawal from Russia. Infineon CEO Sabine Herlitschka remains the highest-ranked woman at fourth, with OMV CEO Alfred Stern close behind.
Erwin Hameseder
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Raiffeisen RBI shareholders meeting disrupted by protests over Russian business ties
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Raiffeisen Bank International AG
RAIFFEISEN-HOLDING NIEDERÖSTERREICH- WIEN eG
Raiffeisenlandesbank Niederösterreich- Wien AG
Strabag SE
AUT
RUS
Oleg Deripaska
Johann Strobl
Erwin Hameseder
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Raiffeisen Bank meeting disrupted by protest over Russian investments
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Euro
Raiffeisen Bank International AG
RAIFFEISEN-HOLDING NIEDERÖSTERREICH- WIEN eG
Raiffeisenlandesbank Niederösterreich- Wien AG
Strabag SE
AUT
Oleg Deripaska
Erwin Hameseder
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Erwin Hameseder named Austria's most important manager for second consecutive year
Euro
RAIFFEISEN-HOLDING NIEDERÖSTERREICH- WIEN eG
OMV
UNIQA
VERBUND AG
Infineon Technologies AG
AUT
Alfred Stern
Erwin Hameseder
Michael Strugl
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Sabine Herlitschka
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07:00 30.11.2024
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