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Raiffeisen Eyes Russia Unit Sale or Spinoff Amid Pressure

  • Lender has faced criticism for reaping record profit in Russia
  • Bank hasn’t set deadline and move could ultimately fail
Updated on

Raiffeisen Bank International AG plans to sell or spin off its Russian subsidiary, narrowing options for a unit that has faced criticism for making record profits since the start of the war in Ukraine. 

“The RBI Group will continue to progress potential transactions which would result in the sale or spinoff of Raiffeisenbank Russia and deconsolidation,” Chief Executive Officer Johann Strobl told a shareholder meeting in Vienna Thursday.