Media: Raiffeisen Bank International wants to swap assets with Sberbank

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Media: Raiffeisen Bank International wants to exchange assets with Sberbank

Media: Raiffeisen Bank International wants to swap assets with Sberbank – RIA Novosti, 03/15/2023

Media: Raiffeisen Bank International wants to exchange assets with Sberbank

Raiffeisen Bank International intends to exchange its assets in Russia for the assets of Sberbank in Vienna, the Austrian newspaper Standard reported, citing data … RIA Novosti, 03/15/2023

2023-03-15T14:14

2023-03-15T14:14

2023-03-15T14:14

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VIENNA, March 15 – RIA Novosti. Raiffeisen Bank International intends to swap its assets in Russia for the assets of Sberbank in Vienna, Austrian newspaper Standard reported, citing data from the weekly Falter. It should be noted that Raiffeisen Bank International is working on the absorption of the remaining assets of Sberbank Europe. “Russian state-owned Sberbank will receive Raiffeisen’s assets in Russia, in exchange Raiffeisen Bank International will receive Sberbank’s assets in Vienna,” the media reported. According to the publication, the documents for the meeting of the board of directors of Raiffeisen Bank International, which was held last week on Tuesday, are already available. They are strictly confidential and deal in detail with the structure of the transaction. It is specified that the deal was drawn up by the managers of Raiffeisen. The Austrian Financial Market Supervisory Authority previously announced a ban on the business activities of Sberbank’s European subsidiary, Sberbank Europe AG, under the direction of the European Central Bank. It was noted that the bank was prohibited from making payments and other operations. Afterwards, in May 2022, the Austrian regulator approved the sale of most of the assets of Sberbank Europe AG. At that time, Timur Kozintsev, senior vice president and head of the Sberbank International bloc, said that Sberbank was continuing its systematic work to exit the European market. Meanwhile, last week Sberbank Director German Gref said that in 2022 the bank was able to return its assets worth more than $6 billion from abroad. The consolidated profit of the entire RBI in 2022 increased 2.6 times to 3.627 billion euros, and most of it fell on the Russian market, where its financial result increased 4.3 times, to 2.058 billion euros. At the same time, according to the current Russian legislation, RBI cannot distribute the profits received in Russia.

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Media: Raiffeisen Bank International wants to exchange assets with Sberbank