RBI sees no signs of expropriation of Russian business, CEO says

Raiffeisen ​Bank International currently sees ​no signs of an ‌expropriation ​of its Russian business, CEO Michael Hoellerer said on Monday, after several attempts ‌by the Austrian lender to sell the division have failed.

"I have never received any direct statement on this matter from the ‌Russian authorities," Hoellerer said, despite recognising the risk of compulsory ‌administration or even expropriation of Western companies in Russia. However, the Austrian lender wants to leave the country as soon as possible. "If I ⁠had the ​chance to ⁠pull out of Russia tomorrow, I would do so," Hoellerer said.

The ⁠bank has been considering a withdrawal since the start of Russia's ​full-scale invasion of Ukraine in 2022. Such a move would ⁠be complex and would require numerous approvals, particularly from Russian authorities. Russia ⁠this ​month placed the Russian operations of German retailer Metro under state administration.

The move followed similar measures against ⁠Swiss food group Nestlé and French retailer Auchan, with the Kremlin saying ⁠in both ⁠cases that hostile actions by "unfriendly" countries had played a role.