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RBI in a Balancing Act Between Sanction Risks and Solid Management
Raiffeisen Bank International (RBI) is currently caught between geopolitical tensions and its own business progress. Recent developments have led the bank to take cautious steps to avoid sanction risks on the one hand and to present its robust quarterly results on the other, which show that the bank remains strong even without the income from Russia and Belarus.
International sanctions are not something RBI wants to risk by making uncareful business decisions. / Picture: © Raiffeisen Bank International AG / S. Klimpt
In a recent conference call, RBI CEO Johann Strobl stated, as reported by ORF, that the bank may cancel its planned purchase of a stake in Austrian construction group STRABAG if there is a risk of a sanctions violation. For around 24 percent of STRABAG, RBI proposes to pay almost 1.1 billion euros. The US Treasury Department…
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