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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.
Raiffeisenbank Russia has appealed a Kaliningrad court ruling that ordered it to pay €2 billion in damages to Rasperia, a shareholder in Strabag, and to take over its shares. The appeal, submitted on February 21, indicates that a sale of Raiffeisenbank Russia remains prohibited due to an interim injunction, which is likely to stay in effect until a final ruling is made.
RBI plans to appeal a Russian court ruling that mandates it and other Strabag shareholders pay €2.044 billion to Rasperia Trading Limited, which is unable to access its 24.1% share package due to sanctions. The bank may also pursue legal action in Austria to recover Rasperia's assets. Meanwhile, Kremlin officials warn that Western sanctions will have repercussions for those involved.
Raiffeisen Bank International AG faces a significant financial setback following a Russian court ruling that may impose over €2 billion in damages on its Russian subsidiary. The case involves Rasperia Trading, linked to sanctioned billionaire Oleg Deripaska, and construction firm Strabag SE. CEO Johann Strobl plans to appeal the ruling, asserting that Raiffeisenbank Russia has been wrongly implicated. Analysts estimate the bank may need to set aside at least €400 million as it navigates legal challenges while attempting to exit the Russian market, where it holds €4.45 billion in excess capital hindered by local controls.
Raiffeisen Bank International faces a potential €1.9 billion fine in a Russian court over claims related to Western sanctions and its subsidiary's activities. The upcoming hearing on December 25 could significantly impact the bank's balance sheet, as it has been under pressure from the ECB and US sanctions authorities to reduce its Russian operations. Despite being active in Russia for over 30 years, RBI has struggled to navigate the complexities of sanctions and legal disputes, with nearly €6 billion of equity currently tied up in the country.
Raiffeisen Bank International faces a potential €1.9 billion fine in a Russian court over claims from investment holding Rasperia, linked to sanctions affecting its subsidiary. The bank, under pressure from the ECB and US authorities, is exploring a majority sale but is hindered by a court order. With over 30 years in Russia, RBI's operations are significantly impacted by sanctions, tying up nearly €6 billion in equity.
Raiffeisen Bank International faces a potential €1.9 billion fine in a legal dispute over its Russian operations, with a court hearing scheduled for December 25. The lawsuit, initiated by Russian investment holding Rasperia, could significantly impact the bank's balance sheet, as it has over €6 billion tied up in Russia due to sanctions. Despite not being directly accused of misconduct, RBI is under pressure from the ECB and US authorities to reduce its Russian activities.
Raiffeisen Bank International faces a potential financial setback in Russia, with a court ruling on a €1.9 billion lawsuit from Rasperia scheduled for December 25. The case, linked to sanctions affecting Strabag's shares, could significantly impact RBI's balance sheet, although the bank remains well-capitalized and plans to contest any negative judgment. Meanwhile, RBI is under pressure from the ECB and US authorities to reduce its Russian operations, with nearly €6 billion in equity currently inaccessible due to sanctions.
RBI faces potential billions in damages from a lawsuit linked to its Russian subsidiary, which could significantly impact its balance sheet. The bank is under pressure from the ECB and US sanctions to reduce its Russian operations, with profits there currently frozen due to sanctions. Despite exploring withdrawal options, RBI's plans are hindered by a Russian court's prohibition on selling its subsidiary.
Raiffeisen Bank International AG has finalized the sale of an 87.74% stake in Belarusian JSC Priorbank to UAE-based Soven 1 Holding, following an agreement made in September 2024. The transaction is expected to negatively impact the group's consolidated profit by approximately 830 million euros. CEO Johann Strobl emphasized the importance of this move in mitigating risks associated with Eastern European operations.
Johann Strobl
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Raiffeisen RBI shareholders meeting disrupted by protests over Russian business ties
Euro
Raiffeisen Bank International AG
RAIFFEISEN-HOLDING NIEDERÖSTERREICH- WIEN eG
Raiffeisenlandesbank Niederösterreich- Wien AG
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AUT
RUS
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Johann Strobl
Erwin Hameseder
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Euro
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Raiffeisen Bank International AG
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AUT
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RUS
AUT
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UniCredit S.p.A.
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ITA
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Raiffeisen Bank International AG
UniCredit S.p.A.
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