RBI chief says staying in Russia is increasingly untenable, focuses on legal dispute
Raiffeisen Bank International CEO Michael Höllerer reiterated the bank’s desire to exit Russia, citing growing difficulties, and said the priority is resolving the lawsuit with shareholder Rasperia.
Michael Höllerer, chief executive of Raiffeisen Bank International, told a club of business reporters that the bank’s long-term presence in Russia is no longer viable and that it would depart at the first chance. He explained that a complete exit is complicated by the need for multiple approvals, including from Russian authorities. Consequently, the bank is prioritising the resolution of a court-ordered dispute with its Russian shareholder Rasperia, which involves Strabag shares, dividends since 2021 and a recent cash payout that are currently frozen under EU sanctions.
Höllerer said RBI intends to sell the assets via an investment bank and will not retain any ownership in Strabag. He also dismissed recent allegations of misconduct at the Russian subsidiary and said the bank has engaged regulators to confirm its compliance procedures.
Why it matters
The story shows how Western banks navigate legal and regulatory challenges while trying to withdraw from Russia’s market.
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