By Cristina Roca

Raiffeisen Bank International AG has no plans to leave Russia, a spokesman for the Vienna-listed bank told Dow Jones Newswires on Tuesday.

Earlier on Tuesday, Reuters reported that Raiffeisen was looking into leaving Russia and Ukraine, citing unnamed sources. According to Reuters, the decision wasn't imminent but could take place if Raiffeisen's businesses in the two countries needed further cash or capital.

Shares in the bank, which made roughly a third of its pretax profit in Russia last year, have lost 43% of their value over the past week as conflict in Ukraine escalated sharply. At 1533 GMT, shares in Raiffeisen traded 7.8% lower at EUR13.53.

Write to Cristina Roca at cristina.roca@wsj.com

(END) Dow Jones Newswires

March 01, 2022 10:50 ET (15:50 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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