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Raiffeisen expects ECB’s request to expedite Russian business reduction

"Under the current draft of the requirements, loans to customers would decrease significantly by 2026 (up to 65 per cent vs. Q3/2023), as would international payments originating from Russia," the banking group said

VIENNA, April 18. /TASS/. Austria-based Raiffeisen Bank International AG (RBI) expects that the European Central Bank (ECB) will soon demand expediting the process of business wind-down in Russia.

The bank expects that ECB "in the near term to issue a request for an acceleration of the business reduction in Russia, which RBI has been conducting since February 2022."

"Under the current draft of the requirements, loans to customers would decrease significantly by 2026 (up to 65 per cent vs. Q3/2023), as would international payments originating from Russia," the banking group said.

"The ECB’s draft requirements go far beyond RBI’s own plans to further reduce the Russian business and may adversely impact RBI’s options" to sell its Russian subsidiary, RBI said, adding that the bank still intends to live Russia.