Raiffeisen Assessing Options for Raiffeisenbank Russia Including Market Exit

   By Sarah Sloat

Austria's Raiffeisen Bank International AG is assessing all strategic options for its Raiffeisenbank Russia unit in light of Russia's invasion of Ukraine, the bank said Thursday.

Raiffeisen is "assessing all strategic options for the future of Raiffeisenbank Russia, up to and including a carefully managed exit from Raiffeisenbank in Russia," Chief Executive Johann Strobl said.

Raiffeisen is one of the European banks most exposed to the conflict in Ukraine. As previously reported, it made 33% of its pretax profit in Russia last year. Ukraine accounted for another 8.4% of 2021 pretax profit.

Earlier in March the bank suspended its dividend, citing the impact of the war on its operations. It had also suspeneded new lending in Russia and Ukraine.

Write to Sarah Sloat at sarah.sloat@wsj.com

(END) Dow Jones Newswires

March 17, 2022 04:51 ET (08:51 GMT)

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