Raiffeisen Bank International (RBI) has been under scrutiny for its ongoing operations in Russia despite previous commitments to exit the market. Recent reports revealed that RBI posted over 2,400 job advertisements in Russia since December 2023, signaling plans for expansion. This move has attracted attention from European regulators, with expectations that the European Central Bank (ECB) will soon mandate RBI to accelerate its withdrawal from Russia, and replace misleading job postings. The ECB's anticipated directive is part of a broader effort to reduce European financial presence in Russia, affecting other banks like Italy's UniCredit, which is also expected to downscale its Russian operations under ECB's pressure.
⚡️Italy's UniCredit bank is expecting an order from the European Central Bank (ECB) to reduce its business activities in Russia, Reuters reported on April 19, citing sources. https://t.co/cQSA5iAZaV
Major bank says EU trying to force it out of Russia Raiffeisen says it expects to be asked by the EU Central Bank to further reduce operations in the sanctioned country https://t.co/yA9DSovJYt https://t.co/Ka20DUa3LK
The ECB is set to order UniCredit to pare back its Russia business https://t.co/Izh9YlnMBU https://t.co/NqQMxhvRQf
Several European banks still operate in Russia. Among them is the Italian UniCredit, which will be pressured by the ECB to reduce its assets in Russia. The same goes for the Austrian Raiffeisen Bank International, which also still operates in Russia. https://t.co/UDREMsK3oi
The European Central Bank is poised to order Italy's UniCredit to cut back its business with Russia, sources said, as the regulator exerts pressure to choke off financial ties with Moscow https://t.co/p59j0Xjvpb https://t.co/DSm3s33SC3
Exclusive: ECB set to order UniCredit to reduce Russia business, sources say https://t.co/plN0GfMtBj
Ru business news 18/Apr/2024: Raiffeisen Bank is expecting the European Central Bank to ask it to expedite the process of reducing its Russian business. It is expected to lower its international payments and loan issuance to 65% of the volume of Q3 2023. https://t.co/e14k2KbxDn
⚡️Austria's Raiffeisen Bank International (RBI) said on April 18 that it expects a request by European regulators to accelerate the wind-down of business in Russia. https://t.co/FuedLSqgVt
Austria’s Raiffeisen expects ECB to order acceleration of its Russia exit https://t.co/Es1iaRw2pT
Raiffeisen expects the ECB to order a significant reduction of its Russian operations, potentially threatening ambitions to sell the unit https://t.co/BvpHWZs3Sz
"Raiffeisen Bank International AG (RBI) expects the ECB to issue a request for an acceleration of the business reduction in Russia" I get the politics of this but I still think it's a terrible idea bc we know how it will end: massive transfer of wealth to a Russian oligarch.
⚡️Austria's Raiffeisen Bank replaces 'misleading' Russia job postings. Raiffeisen Bank in Austria announced its decision on April 16 to replace job advertisements that featured "misleading language," suggesting an expansion of the bank's operations in Russia.…
Raiffeisenbank is looking for more than 2,000 new employees despite statements about leaving Russia - The Financial Times Raiffeisenbank, which was about to leave Russia, has placed more than 2,400 recruitment advertisements since December 2023, where ambitious plans for… https://t.co/EFTaUD6BNk
Raiffeisenbank, which has made billions in Russia since the invasion of Ukraine despite pledging to leave, is shocked – shocked! – to find its Russian bank is hiring thousands of people for its ambitious growth plans there: https://t.co/eHdPPLHy3J
Austria’s Raiffeisen Bank International recently posted dozens of Russian job indicating ambitious plans to grow in the country, contradicting its official pledge to exit the market. Cracking work by @xtophercook, @EuanHealy, @OwenWalker0 & Sam Jones https://t.co/KNVlZjfFSc