VIENNA, August 1. /TASS/. Austrian-based Raiffeisen Bank International (RBI) will be able to spin its Russian subsidiary off in late December 2023 at the earliest, the ORF web portal says, citing RBI CEO Johann Strobl.

Strobl said in May that a decision on the spin-off may be made in late September. Furthermore, the option of divesting the business is still on the table.

RBI reiterated earlier that both options are associated with various bureaucratic barriers and take a lot of time to be implemented. The business can only be sold to a buyer not under sanctions. The bank has a number of interested buyers outside Russia, Strobl added.