abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb

Cette page n’est pas disponible en Français et est affichée en English

Article

28 Fév 2023

Auteur:
Sam Jones, Owen Walker and Anastasia Stognei, Financial Times

Russia: Austria’s Raiffeisen Bank making record profits while 'stuck' in Russia

'How Austria’s Raiffeisen got stuck in Russia — while making record profits', Financial Times, 26 February 2023

For years, Austria’s Raiffeisen Bank vaunted its staying power in Russia as western rivals came and went...

[But] one year into Russia’s bloody invasion of Ukraine, as western companies flee the country, fearful of the reputational and legal risk of continuing to do business there, Raiffeisen finds itself stuck. The bank’s huge Russian subsidiary is trapped in the grip of Vladimir Putin’s regime, the policies of which allow it to rack up unprecedented profits, while barring those gains from leaving Russian territory.

Earlier this month, Raiffeisen — a bank dating back to the days of the Austro-Hungarian empire, with a virtually ubiquitous presence across eastern Europe — reported it had made €3.6bn in profit in 2022, compared with €1.4bn in 2021. Of that, €2.2bn, more than 60 per cent, was attributable to businesses in Russia and Belarus, up fourfold from 2021...

Raiffeisen is not alone. Many western businesses remain in Russia. Banks such as HSBC and Bank of America are among them. But Raiffeisen stands out both for the size of commercial activities and its role at the centre of other, remaining businesses’ operations: Raiffeisen, a senior executive at the bank told the Financial Times, now handles 40-50 per cent of all the money flows between Russia and the rest of the world...

A spokesperson for Raiffeisen stressed that the bank was fully complying with EU and US sanctions against Russia, but declined to comment further on its ongoing business in Russia...

Raiffeisen has severed relationships with about three dozen big Russian clients — oligarchs and businesses — since the invasion began. In the last year it has reduced its lending to Russian businesses by 30 per cent, which management believes is a remarkable achievement...

Including company comments

ENDS

Fait partie des chronologies suivantes

Ukraine : L'indignation mondiale face à l'invasion russe entraîne des sanctions et des demandes de désinvestissement des entreprises

Ukraine invasion: Banks & financial institutions seek to cut ties with Russia

Ukraine invasion: Banks & financial institutions seek to cut ties with Russia

Informations sur la confidentialité

Ce site utilise des cookies et d'autres technologies de stockage web. Vous pouvez définir vos choix en matière de confidentialité ci-dessous. Les changements prendront effet immédiatement.

Pour plus d'informations sur notre utilisation du stockage web, veuillez vous référer à notre Politique en matière d'utilisation des données et de cookies

Strictly necessary storage

ON
OFF

Necessary storage enables core site functionality. This site cannot function without it, so it can only be disabled by changing settings in your browser.

Cookie analytique

ON
OFF

Lorsque vous accédez à notre site Web, nous utilisons Google Analytics pour collecter des informations sur votre visite. Autoriser ce cookie nous permettra de comprendre en plus de détails sur votre parcours et d'améliorer la façon dont nous diffusons les informations. Toutes les informations analytiques sont anonymes et nous ne les utilisons pas pour vous identifier. Outre la possibilité que vous avez de refuser des cookies, vous pouvez installer le module pour la désactivation de Google Analytics.

Cookies promotionels

ON
OFF

Nous partageons des nouvelles et des mises à jour sur les entreprises et les droits de l'homme via des plateformes tierces, y compris les médias sociaux et les moteurs de recherche. Ces cookies nous aident à comprendre les performances de ces items.

Vos choix en matière de confidentialité pour ce site

Ce site utilise des cookies et d'autres technologies de stockage web pour améliorer votre expérience au-delà des fonctionnalités de base nécessaires.