Raiffeisen eyes Russia unit sale or spinoff

Maria Novoselova / Vestnik Kavkaza

Raiffeisen Bank International (RBI) CEO Johann Strobl told the meeting the bank would pursue a possible sale or spin-off of its Russian business.

According to him, it would continue to reduce activity in Russia while it pursued those options, but would keep some business there to maintain its bank licence. He was heckled by a member of the audience.

"RBI will pursue possible transactions that can lead to a sale or a spin-off of Raiffeisenbank Russia and its deconsolidation from the RBI group ... in consultation with the relevant authorities," Strobl said.

© Photo :Maria Novoselova / Vestnik Kavkaza