RBI’s Russian Subsidiary Sells its Pension Fund Business

BusinessDeals ♦ Published: October 19, 2015; 16:00 ♦ (Vindobona)

RBI’s Russian subsidiary (AO Raiffeisenbank) closed the sale of its pension fund business (ZAO NPF Raiffeisen) to the Russian BIN Group. The transaction will result in a one-off gain before tax of around EUR 87 million for RBI, which will be booked in the fourth quarter of 2015. It has been agreed that the parties will not disclose the price at which the transaction took place.

RBI’s Russian subsidiary sells its pension fund business / Picture: © Vindobona.org

It will also reduce risk-weighted assets (RWA) by EUR 327 million.

In total, RBI’s common equity tier 1 ratio (fully loaded) will be strengthened by approximately 20 basis points as a result of this transaction.

ZAO NPF Raiffeisen is a top-20 Russian non-state pension fund and was founded in 2004. As of 30 June 2015, the fund manages roughly EUR 550 million in…