Western banks, including Raiffeisen Bank Intl, UniCredit, ING, Commerzbank, Deutsche Bank, Intesa Sanpaolo, and OTP, paid the Kremlin over €800mn in taxes in 2023, a fourfold increase from prewar levels. Despite promises to minimize Russian exposure post-Ukraine invasion, these banks saw profits rise due to higher interest rates and international sanctions on Russian banks.
Ru business news 3/May/2024: Raiffeisen Bank International's profit in Russia for Q1 2024 reached 326 million Euro which is 8,2% higher than in 2023. The share of Russia when it comes to RBI's profit is 45%. Its profitability in Russia is at 29,1% https://t.co/IbKdE5Z6VO
⚡️Austria's Raiffeisen Bank International (RBI) is making plans to begin its exit from the country in the summer of 2024, Russian media reported on May 3, citing the company's chairman, Johann Strobl. https://t.co/ELZqhdzoPf
March 2022, Raiffeisen CEO, Johann Strobl: "All of you must understand we are not walking away from Russia". He kept his word and in the first quarter of 2024, about half of Raiffeisen Bank’s net income came from operations in Russia and Belarus. Sanction Raiffeisen! https://t.co/pYrTC341ga
The head of Raiffeisen Bank International, Johan Strobl, said that in the third quarter of 2024 the banking group will begin to comply with the European Central Bank order to significantly reduce its business in Russia. Previously Ukraine had put Raiffeisen on the 'sponsors of… https://t.co/S4HhBwAMLs
Western banks in Russia paid €800mn in taxes to Kremlin last year via @FT https://t.co/aTMYURsWuA
The seven top European banks by assets in Russia reported a combined profit of more than €3bn in 2023 as they benefited not just from higher interest rates but also from international sanctions on Russian banks https://t.co/CnhpOTSWB0 https://t.co/unKbKgAcke
EU banks paying more Russian taxes since Ukraine conflict – FT Raiffeisen, UniCredit and others with a presence in Russia have seen profits increase threefold since 2021 https://t.co/9tRpaQX7RZ https://t.co/pHDEfJn3tD
So shameful. There are things more important than profits, like not funding terrorism. I hope the employees and shareholders of these companies will rethink their actions. Western banks in Russia paid €800mn in taxes to Kremlin last year https://t.co/wPewUYTlfc via @ft
Raiffeisen Bank Intl, UniCredit, ING, Commerzbank, Deutsche Bank, Intesa Sanpaolo, and OTP paid the Kremlin more than $858 million in taxes last year, “a fourfold increase on prewar levels, despite promises to minimize their Russian exposure,” reports FT. https://t.co/imZ5qOdEIc
Western banks paid 4 times more taxes to Russia in 2023 than before the war https://t.co/LN2FC2IXRT https://t.co/92Xh7mxnZC
Western banks have paid 800 million euros in taxes in Russia for the year 2023 - that is four times more than in the pre-war year 2021. This is reported by the Financial Times https://t.co/l8NuS5FSQk
"The largest western banks that remain in #Russia paid the Kremlin >€800mn in taxes last yr, a fourfold increase on prewar levels, despite promises to minimise their Russian exposure after the full-scale invasion of #Ukraine" https://t.co/w1sTBa9jYe