Raiffeisen Bank International (RBI) is currently not prepared to exit the Russian market under a “zero compensation” scenario, which would entail leaving without any reimbursement for its Russian assets, RBI’s CEO Johann Strobl stated during a recent conference call, Russian media reported on October 30.
“I understand your question regarding the option of simply leaving under a 'zero compensation' scenario. I understand your point of view, and we are certainly considering it. However, we are not yet at the stage where we would exit without any compensation,” Strobl said.
The CEO added that Raiffeisen Bank continues to reduce its business operations in Russia and will adhere to this strategy.
However, Strobl clarified that no specific plan for a complete exit from the Russian market is in place.
“We may explore options for either partial or full exit from the business, but until that is possible, accelerated business reduction remains our main scenario,” he said.
As one of the largest Western banks operating in Russia, RBI initially announced plans to scale back its presence in Russia shortly after the beginning of the full-scale Russian invasion of Ukraine in 2022.
Earlier, The United States issued a direct warning to Austria’s RBI that its continued operations in Russia could lead to restrictions on its access to the dollar system.
