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1. • • Johann Strobl, CEO of Raiffeisen Bank International (RBI), has stated that in the third quarter of 2024, the banking group will begin to implement the European Central Bank's (ECB) directive for significant downsizing of business operations in Russia.
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     Raiffeisen Bank to start downsizing its business in Russia in ...

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   Is Raiffeisen Bank Implementing ECB directive in Russia?

   • Johann Strobl, CEO of Raiffeisen Bank International (RBI), has stated that in the third quarter of 2024, the banking group will begin to implement the European Central Bank's (ECB) directive for significant downsizing of business operations in Russia. Source: RBC (Russian Business Consulting), a Russian news outlet; Russian media outlet Kommersant

   Raiffeisen Bank to start downsizing its business in Russia in summer, CE…

   finance.yahoo.com/news/raiffeisen-bank-start-downsizing-business-090808860.html

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   Is the ECB order affecting Russian banks?

   • The Viennese lender, which operates the largest foreign-owned bank in Russia, is shrinking its business after receiving a European Central Bank order in April to cut its loan book and reduce payment services. UniCredit SpA, another European lender still active in Russia, has taken steps questioning the legality of the ECB order.

   Raiffeisen Says It’s Accelerating Russia Wind-Down on ECB Order

   www.bnnbloomberg.ca/business/2024/07/30/raiffeisen-says-its-accelerating-russia-wind-down-on-ecb-order/

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   What happens if Raiffeisen doesn't comply with ECB regulations?

   • The ECB declined to comment. A person briefed on the central bank’s letter to Raiffeisen said it had been in the works for weeks. If Raiffeisen does not comply with the requirements outlined in the letter, the ECB plans to take enforcement action against the bank, which could include fines.

   Raiffeisen warns ECB plans could derail plan to sell Russian arm

   www.ft.com/content/56fdcc78-65c0-4be8-9de4-b06e167555f9

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   Why did Raiffeisen Bank abandon a deal with Russia?

   • Last week, Austria’s Raiffeisen Bank International was forced to abandon a deal to swap assets in Russia for ones in Europe after pressure from US authorities. The US intervention has led to concern at the ECB that RBI and other lenders could be targeted in future crackdowns.

   ECB pressures banks to speed up Russia exits on fear of US action

   www.ft.com/content/77653edb-2951-4ee2-8953-60de359c2002

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   What does the ECB's draft proposals mean for Raiffeisen?

   • The ECB’s draft proposals contain a requirement for a further 65 per cent reduction in Raiffeisen’s Russian loan book from its current level, and a corresponding decrease in its international payments business. The ECB declined to comment. A person briefed on the central bank’s letter to Raiffeisen said it had been in the works for weeks.

   Raiffeisen warns ECB plans could derail plan to sell Russian arm

   www.ft.com/content/56fdcc78-65c0-4be8-9de4-b06e167555f9

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   Will ECB cut its business in Russia by 2026?

   • The bank said existing accounts would be serviced as usual. RBI said in April that it would be required by the ECB to further decrease its business in Russia by cutting back on loans to customers and paring back international payments from Russia by 2026.

   Raiffeisen's Russian unit pauses brokerage account openings under EC…

   www.reuters.com/business/finance/raiffeisens-russian-unit-pauses-brokerage-account-openings-under-ecb-pressure-2024-08-05/

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3. www.reuters.com › business › financeRaiffeisen's Russian unit pauses brokerage account openings ...

   www.reuters.com › business › finance

   Aug 5, 2024 · RBI said in April that it would be required by the ECB to further decrease its business in Russia by cutting back on loans to customers and paring back international payments from Russia by 2026.

4. www.ft.com › content › 56fdcc78-65c0-4be8-9de4-b06eRaiffeisen warns ECB plans could derail plan to sell Russian arm

   www.ft.com › content › 56fdcc78-65c0-4be8-9de4-b06e

   Apr 18, 2024 · The ECB’s new stringent proposals “go far beyond RBI’s own plans” and may “adversely affect” ongoing attempts to sell its Russian arm, the bank said in a statement on Thursday.

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6. www.bnnbloomberg.ca › business › 2024/07/30Raiffeisen Says It’s Quickening Russia Wind-Down on ECB Push

   www.bnnbloomberg.ca › business › 2024/07/30

   Jul 30, 2024 · “In line with the ECB’s requirements, we accelerate the reduction of the business volume in Russia,” Raiffeisen Chief Executive Officer Johann Strobl said in a statement. Raiffeisen’s shares rose as much as 7.9%, erasing this year’s decline.

7. finance.yahoo.com › news › raiffeisen-bank-startRaiffeisen Bank to start downsizing its business in Russia in ...

   finance.yahoo.com › news › raiffeisen-bank-start

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   May 3, 2024 · Johann Strobl, CEO of Raiffeisen Bank International (RBI), has stated that in the third quarter of 2024, the banking group will begin to implement the European Central Bank's (ECB)...

8. www.bloomberg.com › news › articlesRaiffeisen Pulls Guidance After ECB Orders Russia Unit Cuts

   www.bloomberg.com › news › articles

   • Cached

   May 2, 2024 · Raiffeisen Bank International AG suspended its full-year targets while maintaining the guidance for its core countries, after the European Central Bank ordered a faster reduction of its...

9. www.ft.com › content › 77653edb-2951-4ee2/8953/60deECB pressures banks to speed up Russia exits on fear of US action

   www.ft.com › content › 77653edb-2951-4ee2/8953/60de

   May 17, 2024 · Last week, Austria’s Raiffeisen Bank International was forced to abandon a deal to swap assets in Russia for ones in Europe after pressure from US authorities. The US intervention has led to...

10. www.reuters.com › business › financeInsight: How Raiffeisen's bet on Russia took it to the brink

    www.reuters.com › business › finance

    Jul 4, 2024 · Now, nearly two months on, pressure on the bank to loosen its ties with Russia is mounting, from both Washington and the ECB, three people with knowledge of the process said.