Frankfurt/Moscow, September 6 (FinanceFlashNews) – Shares of Raiffeisen Bank International (RBI) fell by 7.4% on the Frankfurt Stock Exchange after a Russian court decided to freeze the assets of its Russian subsidiary. According to Reuters, this is the largest asset freeze imposed on a Western bank in Russia, signaling increased risks for foreign financial institutions in the country.
RBI plans to challenge the ruling while facing intense pressure from Western regulators, urging it to reduce its Russian presence due to sanctions related to the ongoing Ukraine conflict. The bank has tried to sell its Russian assets, but it has described the process as complicated and time-consuming.
Despite these efforts, Raiffeisen Bank International remains the largest Western bank still active in Russia. Its Russian subsidiary reported a 1.3 billion euro profit in 2023, with more than 9,900 employees working in 490 branches across the country.
The geopolitical landscape continues to escalate, and Bloomberg notes that RBI is under pressure due to deteriorating relations between Russia and the West, as well as growing sanctions and regulatory scrutiny.
Keywords: Raiffeisen Bank International, Russian court, asset freeze, Western banks, sanctions, profits.
