Russia: Austrian Banks Demonstrate Serenity

Austrian Banks Fear Escalation of Conflict in Eastern Europe / Picture: © Vindobona.org

For the two biggest CESEE lender Bank Austria and RBI (Raiffeisen Bank International), the unrests in Ukraine and the potential sanctions against Russia are a massive threat. Both banks are heavily involved in the two markets.

The U.S. rating agency S&P has cut Russia´s sovereign bond rating by one notch to BBB-. The outlook is negative. According to S&P, the Russian…