Finance
Raiffeisen Posts First Loss in Nine Years as Provisions Surge
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Raiffeisen Bank International AG posted its first quarterly net loss in nine years after it was forced to set aside €840 million to deal with an adverse court ruling in Russia.
The lender reported a €926 million ($955 million) net loss in the fourth quarter after it recorded the provisions in its Russian unit, according to a a statement. The bank also incurred €156 million of costs related to Polish foreign-currency loan litigation.