Raiffeisen Bank confirmed it provides payment holidays for Russians fighting in Ukraine despite claims to quit the Russian market

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As was reported, Russian subsidiary banks of foreign parent financial institutions, in particular Raiffeisen Bank International (Vienna), Citibank (New York), Credit Europe Bank (Amsterdam) and OTP Bank (Budapest), are providing credit payment holidays to Russians fighting against Ukraine. Ukraine’s National Bank publicly appealed to the management of international banking groups to implement their previous statements and quit the Russian market.

Raiffeisen Bank International released a statement where it confirms operations in Russia, “given the complexity of the situation including, the restrictive measures established by the Russian Federation.”

Raiffeisen Bank International (RBI) has a subsidiary bank in the Russian Federation, which is a separate legal entity and must operate in accordance with current Russian legislation, which includes preferential terms.

RBI is considering all strategic options for the future of Raiffeisenbank Russia, including a carefully planned exit from the bank. However, given the complexity of the situation and, including, the restrictive measures established by the Russian Federation, this process continues,” the statement reads.

 

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