After Russia launched its full-scale war against Ukraine in 2022, Austria’s Raiffeisen Bank International (RBI) repeatedly promised to wind down its business in Russia and sell or spin off its Russian subsidiary. AO Raiffeisenbank still operates in the Russian Federation, however, and remains the largest Western bank on the Russian...
Raiffeisen shares plunge more than 8% after sanctions-evasion allegations
Shares of Austria’s Raiffeisen Bank International (RBI) fell more than 8% in Thursday trading in Vienna on September 17. At one point the drop reached nearly 9%. By midday the stock was trading around €59.6–€59.8. The sell-off followed a report published by U.S. investment fund Grizzly Research. The fund said...