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Raiffeisen Group suspends sale of its Russian division — FT

One of the people close to the talks told FT that global uncertainty as well as the changing relationship between the US and Russia were behind the halt

LONDON, April 18. /TASS/. Banking group Raiffeisen Bank International (RBI) has suspended efforts to sell its Russian division amid a warming of relations between Russia and the United States, the Financial Times (FT) reported, citing sources.

"Raiffeisen Bank International, the largest western bank still doing business in Russia, has halted attempts to sell its unit in the country amid a rapprochement between Washington and Moscow, according to people familiar with the situation," the report said.

One of the people close to the talks told FT that global uncertainty as well as the changing relationship between the US and Russia were behind the halt. "It is in order to assess the situation and if the position of the US might change," the source said.

As previously reported, RBI has set aside a provision of 840 mln euro to cover potential losses stemming from legal claims involving its Russian division. Consequently, in the Q4 of 2024, the Russian branch of Raiffeisen posted net losses amounting to 240 mln euro.

Raiffeisen Bank has operated in Russia since 1996 and is a subsidiary of Raiffeisen Bank International AG - one of Austria’s largest banking groups.

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