RBI is thinking about withdrawing from Russia – but is seeing a jump in profits there of all places.
Raiffeisen Bank International (RBI) can’t get rid of Russia – it is the last remaining bank from Austria in Russia.
The presentation of the half-year balance sheet was dominated by this topic – the bank could have shown a good balance sheet even without the Russian profit. CEO Johann Strobl emphasized the sense of solidarity within his banking group and explained that the most important measures have already been taken in Russia: the lending business has been significantly reduced and the loan customer portfolio has been reduced by more than 20 percent.
This means that the reduction target has largely been achieved. In the coming quarters, business is likely to continue to shrink due to maturing, according to Strobl. He also confirmed that the bank in Russia is currently looking for new staff and defended this approach. Around 300 new employees are currently being recruited, and there is a lot of fluctuation in Russia. At the end of the second quarter, the number of employees in Russia was 9188, compared to 9327 at the end of 2021.