Future RBI Chief Höllerer Promotes Exit from Russia and Expansion into Eastern Europe
At this year’s annual general meeting of Raiffeisen Bank International (RBI) in Vienna, the course for the future was set. Michael Höllerer, who will take over from Johann Strobl in July, outlined a clear strategy: a more systematic withdrawal from Russia, coupled with massive growth in the core markets of Central and Eastern Europe.
The Supervisory Board of Raiffeisen Bank International AG (RBI) has appointed Michael Höllerer to succeed Johann Strobl as CEO of RBI / Picture: © Raiffeisen Bank International AG / S. Klimpt
It was a symbolic gesture. Michael Höllerer, currently still CEO of Raiffeisenlandesbank Niederösterreich-Wien, stepped down from the RBI Supervisory Board as planned, in order to prepare for his upcoming role as CEO. Starting July 1, he will steer the fortunes of Austria’s second-largest bank and take on a legacy marked above all by a geopolitical test of endurance.
Russia: The Difficult Farewell
The issue of Russia remains the elephant in the room. Despite massive pressure from the ECB and international authorities, the RBI remains one of the most significant Western banks in the country. Höllerer spoke plainly at the Annual General Meeting: The reduction of business in Russia will not only continue, but the bank intends to push forward with the exit “more consistently within our sphere.”
The reality, however, is complex. While the rest of the RBI group posted a stellar result of over 1.4 billion euros in 2025, the Russian division most recently recorded losses of around 86 million euros. A sale or spin-off has so far failed due to the dense regulatory hurdles in the Kremlin—every transaction requires Vladimir Putin’s personal approval. Höllerer has now signaled that he wants to minimize dependence on these external factors and focus on deconsolidation that protects the bank’s core capital. Without Russia, the common equity Tier 1 (CET1) ratio already stands at a solid 15.5 percent.
Expansion: Looking toward Southeast Europe
While scaling back in the East, RBI is poised to make a leap in the South. An official takeover bid for Addiko Bank has been announced. With an offer of 23.05 euros per share, RBI is making a move for the institution specializing in Southeast Europe.
The plan envisions an interesting division of labor between retention and resale. RBI intends to retain the profitable units in Croatia, Slovenia, and the group headquarters in Austria. Units in Serbia, Bosnia and Herzegovina, and Montenegro are to be transferred to the Serbian Alta Group d.o.o. as part of a “carve-out.”
However, shareholder representatives reacted cautiously at the annual general meeting. Critics argue that the offered price is “not ambitious” and does not adequately reflect Addiko Bank’s potential.
Synergies in the “Giebelkreuz sector.”
In addition to the international strategy, Höllerer also aims to strengthen the internal structure. Cooperation within the Austrian Raiffeisen Banking Group is to be intensified. Höllerer, who knows the sector inside out from his work at the Landesbank, is regarded as a bridge-builder between the regional Raiffeisen banks and the internationally active RBI.
Despite concerns about Russia, there was good news for shareholders: The Executive Board proposed a dividend of 1.60 euros per share for the 2025 fiscal year—a significant increase intended to reinforce confidence in the bank’s profitability outside the crisis region.
About Michael Höllerer
Born in 1978, this lawyer has more than 20 years of experience in the banking sector. Among other roles, he worked in the cabinet of the Ministry of Finance before pursuing a career within the Raiffeisen Group.
His inauguration on July 1, 2026, marks the end of the era of Johann Strobl, who steered the bank safely through the most difficult years since the end of the Cold War.