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April 21 (Reuters) - Demand for the Chinese yuan is growing in Russia, the CEO of Sberbank (SBER.MM) said on Friday, adding that the lender has made use of central bank currency swaps providing yuan liquidity. CEO German Gref said Sberbank was gradually raising its interest rates on yuan deposits and had resorted to borrowing from the Russian central bank in yuan several times. Gref said shareholders at the bank's annual general meeting on Friday had supported the board's recommendation to pay a record 565 billion roubles ($6.94 billion) in dividends. Gref said the bank would take advantage of an early payment option and direct around 10 billion roubles to the budget. Gref said Sberbank was not engaged in any talks with Austria's Raiffeisen Bank International (RBIV.VI) over an asset swap.

☆ Deutsche Bank Russian profits leapt in 2022, even as assets dropped
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

April 20 (Reuters) - Deutsche Bank's (DBKGn.DE) Russian subsidiary's profits jumped by almost six times in 2022 to 5.4 billion roubles ($66.42 million), Russian audit documents showed, the latest example of a foreign lender booking strong earnings in the Russian market. Deutsche Bank said it would wind down its business in Russia in March 2022, joining other foreign lenders in leaving the country. Profit for the period leapt by more than 480% to 5.4 billion roubles. However, total assets dropped 36.3% to 81.6 billion roubles. Net interest income jumped more than 10 times to just over 7 billion roubles.

☆ Austrian banks unaffected by banking turmoil - finance minister tells NZZ
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +2 min

They are very well prepared," Brunner told Swiss newspaper Neue Zuercher Zeitung. He also defended Raiffeisen Bank International (RBI) (RBIV.VI) which has come under fire for continuing to operate in Russia despite the war in Ukraine. "As for RBI, the bank complies with all international sanctions," Brunner told NZZ. "Incidentally, there are other European banks that continue to operate legally in Russia. The minister also said Austrian inflation, which fell to an estimated 9.2% in March, was still too high and called on the European Central Bank to do more to contain price increases.

☆ Austrian banks unaffected by banking turmoil, finance minister tells Neue Zuercher Zeitung
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +2 min

They are very well prepared," Brunner told Swiss newspaper Neue Zuercher Zeitung. He also defended Raiffeisen Bank International (RBI) (RBIV.VI) which has come under fire for continuing to operate in Russia despite the war in Ukraine. "As for RBI, the bank complies with all international sanctions," Brunner told NZZ. "Incidentally, there are other European banks that continue to operate legally in Russia. "The European Central Bank (ECB) in particular can do something about this, as a member of the euro zone we are dependent on the ECB," Brunner said.

☆ The Russian ruble is at its lowest level in a year on speculation Shell is going to repatriate $1 billion of recent earnings
▼ + stars: | 2023-04-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The Russia ruble fell to its lowest since April 2022 amid speculation Shell could repatriate $1.2 billion of the currency. This comes amid a growing liquidity crunch and foreign flight on the back of Western sanctions. Meanwhile, the Chinese yuan recently surpassed the US dollar as the most traded currency in Russia. Trading at 81.6 rubles on Thursday, this marks the currency's lowest level since April 2022. "With liquidity in the currency market low, it leads to increased volatility for the ruble."

VIENNA, March 30 (Reuters) - Raiffeisen Bank International (RBI) (RBIV.VI) took aim on Thursday at "morally arrogant" critics of its dealings in Russia, although said it was considering spinning off its business there anyway amid mounting pressure. Chairman Erwin Hameseder accused critics of "black and white moral thinking" from a "risk free zone of comfort", and said most Western businesses had not left Russia. However, CEO Johann Strobl told the meeting the bank would pursue a possible sale or spin-off of its Russian business. Earlier this month, people familiar with the matter told Reuters the European Central Bank was pressing RBI to unwind its highly profitable business in Russia. The pressure comes after a top U.S. sanctions official raised concerns about RBI's business in Russia on a visit to Vienna last month, another person said.

☆ Putin: Sanctions could hurt Russia's economy
▼ + stars: | 2023-03-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —President Vladimir Putin has conceded that Western sanctions designed to starve the Kremlin of funds for its invasion of Ukraine could deal a blow to Russia’s economy. “The illegitimate restrictions imposed on the Russian economy may indeed have a negative impact on it in the medium term,” Putin said in televised remarks Wednesday reported by state news agency TASS. It is a rare admission by the Russian leader, who has repeatedly insisted that Russia’s economy remains resilient and that sanctions have hurt Western countries by driving up inflation and energy prices. Putin said Russia’s economy had been growing since July, thanks in part to stronger ties with “countries of the East and South,” likely referring to China and some African countries. Russia’s economy has showed surprising resilience to unprecedented sanctions imposed by the West, including an EU ban on most imports of oil products.

[1/5] The logo of Raiffeisen Bank International (RBI) is seen on their headquarters in Vienna, Austria, March 14, 2023. REUTERS/Leonhard FoegerVIENNA, March 23 (Reuters) - The European Central Bank is pressing Austria's Raiffeisen Bank International (RBIV.VI) to unwind its highly profitable business in Russia, five people with knowledge of the matter told Reuters. One person said such a plan could include the sale or closure of its Russian bank. A Raiffeisen spokesperson said that it was examining options for its Russia business "including a carefully managed exit" and that it was "expediting" its assessment, adding that it had also reduced lending in the country. HIGH STAKESIn January, the U.S. sanctions authority launched an inquiry into Raiffeisen over its business related to Russia.

[1/4] FILE PHOTO-Austria's foreign minister Alexander Schallenberg speaks during an interview with Reuters in Vienna, Austria, March 16, 2023. REUTERS/Lisa LeutnerSummarySummary Companies Foreign minister says Russia important for Europe'Part of European culture, whether we like it or not'Schallenberg defends Raiffeisen against criticismVIENNA, March 22 (Reuters) - Russia will always remain important for Europe, Austria's foreign minister said, saying that to think otherwise was delusional. Schallenberg said it was for Austria to enforce sanctions and pointed the finger at other Western banks doing business in Russia. "Austrian companies have to stick to Austrian rules, part of which are the European Union sanctions." "There are enough American banks, one with the name Bank of America, present in Russia," said Schallenberg.

☆ File Raiffeisen’s sanctions-bypass idea in the bin
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 16 (Reuters Breakingviews) - Raiffeisen Bank International thinks it may have found a clever way to repatriate a small part of its Russian assets. Hence the idea to swap its stranded roubles against the frozen euros accumulated by Sberbank, the Kremlin-owned bank forced to unwind its operations by the war in Ukraine. Up to 400 million euros of its assets are now sitting idle in a frozen fund. Promoters of the idea, now being tested with regulators, reckon this might conform with sanctions because the swap would not involve sending hard currency to Russia. In reality, it would allow Russia’s largest bank to recover its frozen money, opening a massive loophole in the sanctions regime.

☆ Raiffeisen Bank's Russian branch halts opening of new corporate accounts
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, March 3 (Reuters) - The Russian branch of Austrian lender Raiffeisen Bank International <RBIV.VI. said on Friday that it was temporarily suspending the opening of accounts for new corporate clients and restricting the opening of new foreign currency for existing corporate clients. In a statement to Reuters, the bank's press service said: "The bank faced a large number of new applications for opening accounts and, in the face of increased requirements, including for checks and currency payments from correspondent banks, decided to concentrate on servicing the existing volume of transactions". The U.S. Department of the Treasury Sanctions Enforcement Office launched an investigation earlier this year against Raiffeisen Bank International in connection with the bank's activities in Russia. Reporting by Reuters; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Austria plays down concerns over U.S. scrutiny of RBI over Russia business
▼ + stars: | 2023-03-02 | by ( Alexandra Schwarz-Goerlich | ) www.reuters.com time to read: +2 min

VIENNA, March 2 (Reuters) - Austria's finance ministry on Thursday played down concerns about U.S. sanctions officials scrutinising Raiffeisen Bank International (RBIV.VI) over its Russia business. "The inquiry from the U.S. sanctions authority is a normal process that gives no cause for concern, because sanctions authorities naturally keep informing themselves about Austrian companies doing business in Russia," Austria's finance ministry told Reuters in a statement. The Austrian finance ministry said it would in due course address questions from parliament about Raiffeisen, as the lender's activities drew more domestic political scrutiny. "A risky deal for the Austrian Raiffeisen, which instead of - like other European banks - ending its business in Russia, is focusing on intensifying business relations," Greens lawmaker Nina Tomaselli said in a parliamentary question. The finance ministry welcomed the prospect of such a deal, suggesting it could prevent losses to savers and deposit insurance of hundreds of millions of euros.

☆ One year of war in Europe: How the dollar, energy and food prices swirled
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +6 min

LONDON, Feb 24 (Reuters) - Russia's invasion of Ukraine has disrupted economies and markets around the world, from energy and food prices to European banks, emerging market stocks and the Russian currency. Below are five charts that show how Europe's biggest conflict since World War Two has shaped global financial markets in the last 12 months. But when Russian tanks rolled into Ukraine in late February, European natural gas prices rocketed by almost 400% in two weeks. Energy prices soared, bringing the threat of blackouts, recession and a worrying switch back to dirtier sources of fuel. Food price pressures are easing, but that does little to soften the blow for many developing nations, where food and energy prices make up a larger share of spending.

The pan-European STOXX 600 index (.STOXX) closed 0.1% higher ahead of a slew of economic data due later this week. Telecom Italia (TIM) (TLIT.MI) fell 2.7% as a government-sponsored offer rivalling KKR's bid for the former phone monopoly's prized grid failed to materialise over the weekend. The EURO STOXX index (.STOXXE), which houses major companies in the eurozone, inched down 0.1%. On the economic front, euro zone consumer confidence rose by 1.7 points in February from January, as expected, figures showed. Forvia, the European car parts maker born from Faurecia's (EPED.PA) takeover of Hella (HLE.DE), forecast stable 2023 sales, sending Faurecia nearly 2.3% higher.

☆ Raiffeisen stock slumps after U.S. sanctions authority asks about Russia business
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

Feb 20 (Reuters) - Shares in Raiffeisen Bank International fell more than 7% at the open on Monday after the Austrian Bank had said on Friday it had received a request for information from the United States' sanctions authority about its business related to Russia. Earlier in February, Raiffeisen reported it earned more than half of its 2022 profit from Russia, a market it is considering exiting after the country's invasion of Ukraine. RBI has operated in Russia since the collapse of the Soviet Union and is Russia's 10th-largest bank by assets. The bank's shares have fallen 19% since the start of the war in February last year. Reporting by Bartosz Dabrowski in Gdansk Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

☆ European shares flat as Telecom Italia drags eurozone stocks
▼ + stars: | 2023-02-20 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +2 min

The pan-European STOXX 600 index (.STOXX) was flat after opening marginally higher. That also boosted oil prices, lifting European energy stocks (.SXEP) by 0.3%. The EURO STOXX index (.STOXXE), which houses major companies in the eurozone, dipped 0.1%. Telecom Italia (TIM)(TLIT.MI) shares dropped 3% as a government-sponsored offer rivalling KKR's bid for the former phone monopoly's prized grid failed to materialise over the weekend. The European autos and auto parts sector index (.SXAP) rose 0.6%.

An Austrian official said that Austrian authorities were monitoring the situation at Raiffeisen and its business in Russia closely because of the bank's importance. Almost a year since Moscow launched what it calls a "special military operation" in Ukraine, Raiffeisen is among a handful of European banks that remain in Russia. Raiffeisen made a net profit of roughly 3.8 billion euros last year, thanks in large part to a 2 billion euro plus profit from its Russia business. Alternatively, OFAC can also resort to less stringent measures such as levying fines and sending warning letters over sanctions violations. OFAC has sanctioned five major Russian banks, including state-backed Sberbank (SBER.MM) part of a response to that country's invasion of Ukraine, as well as wealthy oligarchs.

☆ Analysis: Washington pushes for harsher action against banks with Russia ties
▼ + stars: | 2023-02-14 | by ( John O'Donnell | ) www.reuters.com time to read: +6 min

"We are looking at additional banks and financial institutions to see how Russia deals with the outside world. Some European banks, including UniCredit (CRDI.MI) and Raiffeisen Bank International (RBIV.VI), have large businesses there and must follow local rules to grant payment holidays to soldiers. ENFORCEMENTO'Brien said that the United States would step up enforcement, something the EU also hopes to improve. "We are now looking at how sanctions, including financial sanctions, can be most effective," he said. "While the majority of important Russian banks are sanctioned, there is a lot outside that perimeter that you could go after," said Nicolas Veron, of Washington think tank the Peterson Institute for International Economics.

[1/4] A Russian police officer stands in front of a branch of the Raiffeisen Bank in Moscow, Russia, February 27, 2016. It made a net profit of roughly 3.8 billion euros last year, thanks in large part to a 2 billion euro plus profit from its Russia business. Of UniCredit's more than 20 billion euro total revenue last year, Russia accounted for more than 1 billion euros. Meanwhile, Russian savers lodged more than 20 billion euros with the bank, which offers a place to deposit funds with fewer sanctions risks. It banned investors from so-called unfriendly countries from selling shares in banks, unless the Russian President grants an exemption.

☆ Austria's Raiffeisen says Ukrainian sanctions target its leasing unit
▼ + stars: | 2023-01-29 | by ( ) www.reuters.com time to read: +1 min

VIENNA, Jan 29 (Reuters) - A Russian leasing unit of Austrian lender Raiffeisen Bank International (RBIV.VI) is among the companies targeted by sanctions that Ukraine announced overnight, RBI said on Sunday. Ukrainian President Volodymyr Zelenskiy announced a wave of sanctions overnight targeting 182 Russian and Belarusian companies along with three individuals. Ukraine often calls on companies including RBI to leave Russia, though its latest sanctions are unlikely to have a significant impact on RBI's Russian business. "The political decision of the Ukrainian government to put around 30 Russian leasing companies, including Raiffeisen Leasing Russia, on a sanctions list means that leased goods of Raiffeisen Leasing Russia's customers can be confiscated on Ukrainian territory," an RBI spokesperson said. "Raiffeisen Leasing Russia is a wholly owned subsidiary of Raiffeisenbank Russia.

☆ Factbox: Companies count the cost of ditching Russia
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +6 min

INDITEX (ITX.MC)Zara owner will book a provision of 216 million euros after agreeing to sell its Russia stores to UAE-based Daher Group. TRATON (8TRA.DE)Volkswagen's (VOWG_p.DE) truck division Traton in September said disposing of some assets in Russia would cause a 550 million euro loss. CREDIT AGRICOLE (CAGR.PA)Credit Agricole provisioned more than 500 million euros related to its Russian exposure in Q1. LINDEThe world's largest industrial gases company's exit from Russia recorded impairments of $993 million from its Russia exit. SIEMENS (SIEGn.DE)The Munich-based engineering and tech firm said in May it would take a 600 million euro hit in Q2 for exiting Russia.

☆ Enlisted Russian Raiffeisen Bank employee killed in Ukraine conflict - lawyer
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies This content was produced in Russia, where the law restricts coverage of Russian military operations in UkraineMOSCOW, Oct 21 (Reuters) - A Russian employee of Austria's Raiffeisen Bank International (RBI) (RBIV.VI) was killed after being mobilised to fight against Ukraine, despite his bank writing to the draft office seeking an exemption, his lawyer told Reuters on Friday. Izmailov had gone to his recruitment office on Sept. 23 intending to explain that he was entitled to deferment. Raiffeisen in Russia declined to comment and its head office in Austria, as well as the Russian Defence Ministry, did not immediately respond to inquiries. Raiffeisen has operated in Russia since the collapse of the Soviet Union 30 years ago and its business there - which is Russia's No. 10 bank by assets - contributed almost a third to group net profit of 1.5 billion euros ($1.5 billion) last year.

☆ Experţii UE au ajuns la un acord privind sancţiunile economice împotriva statului Belarus
▼ + stars: | 2021-06-19 | by ( ) www.jurnal.md time to read: +4 min

Sursa foto: EuronewsExperţii UE au ajuns la un acord privind sancţiunile economice împotriva statului BelarusExperţii Uniunii Europene au ajuns vineri la un acord privind sancţiunile economice împotriva statului Belarus, ca penalizare în urma obligării unui avion al Ryanair să aterizeze la Minsk pentru arestarea unui ziarist disident, au anunţat Ministerul austriac de Externe şi trei diplomaţi, transmite Reuters. Sancţiunile economice de amploare vor fi cea mai puternică reacţie a UE de până acum la aterizarea forţată a cursei Ryanair şi arestarea jurnalistului disident, numită de UE drept piraterie de stat. Creditele de export ale UE vor fi la rândul lor oprite. UE a impus deja trei runde de sancţiuni persoanelor fizice, inclusiv lui Lukaşenko, de anul trecut, îngheţându-le activele în UE şi interzicându-le călătoriile. Guvernele UE vor acum să lovească sectoarele care sunt esenţiale pentru economia din Belarus, pentru a impune pedepse reale lui Lukaşenko.

Persons: Alexandr Lukashenko, Lukaşenko, Luni Organizations: Europene, Reuters, UE, Raiffeisen, NATO Locations: Belarus, Minsk, UE, Austriei, Raiffeisen Bank International, Britanie, Canada, Statele Unite, Ryanair, Grecia, Lituania, Belarusului, Rusiei, Germania, Belarusul

☆ Президент Совета Moldindconbank – «Человек года 2020» в Молдове
▼ + stars: | 2021-05-26 | by ( ) newsmaker.md time to read: +1 min

Президент Совета Moldindconbank, Герберт Степич получил награду «Человек года 2020» в номинации «Успешные иностранцы в Молдове» по версии авторитетного журнала «VIP Magazin». В Совет Moldindconbank входят профессионалы с большим опытом работы в специализированных учреждениях Австрии, Болгарии, Греции, Великобритании, США и Республики Молдова. Председатель Совета Moldindconbank отвечал за международное расширение того, чем сегодня является Raiffeisen Bank International (RBI), где он занимал должность генерального директора до 2013 года. Герберт Степич получил множество наград, таких как: «Великая Золотая Награда за Честь и Заслуги перед Австрийской Республикой» в 2012 году; «WU-Manager of the Year 2005» от Венского университета экономики и бизнеса; «Trend Manager of the Year» 2005», «European Banker of the Year 2006» и «European Manager of the 2007». Герберт Степич получил от Венского университета экономики и бизнеса ученую степень доктора, он — вице-президент Международной торговой палаты Австрии.

Persons: Герберт Степич, Николай Бориссову, Николай Бориссов Organizations: Raiffeisen Bank, Совет, Председатель правление банка, Совет банка, Венский университет экономики и бизнеса, Международная торговая палата Locations: Молдова, Австрия, Болгария, Греция, Великобритания, США, Республика Молдова, Центральная, Восточная Европа

Distincția a fost oferită de către organizatori președintelui Comitetului de conducere al Băncii, Nikolay Borissov, care o va transmite beneficiarului. Consiliul Moldindconbank este format din specialiști de valoare, cu bogată experiență obținută la instituții de profil din Austria, Bulgaria, Grecia, Marea Britanie, SUA și Republica Moldova. Herbert Stepic este cunoscut în mediul bancar internațional ca promotor al investițiilor bancare occidentale în Europa Centrală și de Est. Președintele Consiliului Moldindconbank a fost responsabil pentru extinderea internațională a ceea ce este astăzi Raiffeisen Bank International (RBI), în care a deținut funcția de Director General până în 2013. Herbert Stepic deține și titlul de doctor în științe la Universitatea de Economie și Afaceri din Viena și este Vicepreședinte al Camerei Internaționale de Comerț din Austria.

Persons: Herbert Stepic Organizations: Raiffeisen, Universitatea de Economie Locations: Austria, Bulgaria, Grecia, Britanie, SUA, Republica Moldova, Europa Centrală, Est, Raiffeisen Bank International, Viena

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