News from Russia🇷🇺: Raiffeisen Bank will Accelerate Business Reduction Due to EU Demand

News from Russia🇷🇺: Raiffeisen Bank will Accelerate Business Reduction Due to EU Demand


The bank announced this in its quarterly earnings report. As previously indicated, the deadline is now clear.

➡️ The bank's exit process from Russia will begin in the third quarter of 2024, with active preparations currently underway.

➡️ By 2026, RBI must reduce lending to customers by 65% compared to the third quarter of 2023.

➡️ A similar reduction is expected in the international payments segment.

➡️ Lending will continue, but only as an exception. The main focus will be on the recovery of previously granted loans.

➡️ Why…⁉️ — In mid-May, the U.S.🇺🇸 warned that Raiffeisen Bank International's access to the dollar system could be limited due to its ties with Russia.

#news #Russia