Deals
Raiffeisen Curbs Russia, Sells Poland to Restore Capital
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Raiffeisen Bank International AG announced a U-turn in eastern Europe, saying it will scale back its Russian business and sell its operation in Poland. The shares soared.
The Polish sale is the biggest in a series of measures designed to boost the bank’s core equity Tier 1 ratio, a measure of financial strength, by 2 points to 12 percent within three years, the bank said on Tuesday. Raiffeisen swung to an expected 493 million-euro ($558 million) loss last year.