Page 136 - RusRPTApr23

March, the National Agency for the Prevention of Corruption (NAPC) of Ukraine included Raiffeisen Bank International in the list of international "war sponsors".
ECB demands Raiffeisen Bank exit Russian market. The European Central Bank (ECB) has demanded that the Austrian banking group Raiffeisen Bank close its business in Russia. This was reported by Reuters . According to the interlocutors of the agency, the ECB does not demand to immediately leave the Russian market, but insists on the formation of an action plan to terminate the bank's activities in Russia. One of them specified that such a plan could include the sale or closure of the Russian division. However, Raiffeisen Bank does not intend to provide such a plan. Austrian officials considered the ECB's actions unreasonable interference, Reuters notes. A spokesman for Raiffeisen Bank said the banking group had already cut lending in Russia, was accelerating its business valuation, and was indeed exploring options for a "well-managed exit" from the Russian market. At the moment, Raiffeisen Bank is the most important Western bank in Russia, the agency notes. It handles about a quarter of all euro transfers to the country. At the same time, according to the Financial Times, the "daughter" of Raiffeisen Bank International in Russia serves 40-50% of Russia's payments with other countries. Also, the Russian division brings the group about half of all profits. In February, the US Treasury launched an investigation into the Austrian group Raiffeisen Bank International in connection with its Russian business. In the same month, Raiffeisen Bank International limited its correspondent network in Russia to five banks. According to Der Standard, Raiffeisen Bank is exploring the possibility of an exchange with Sberbank of Raiffeisenbank (a subsidiary of Raiffeisen Bank in Russia) for the assets of Sberbank Europe.
Starting April 3, 2023, Raiffeisenbank will change the terms of currency transfers for private clients. This was reported by the press service of the credit institution. Outgoing transfers in US dollars to other banks will only be available to customers with Premium or Premium 5 packages, as well as customers of Friedrich Wilhelm Raiffeisen . The minimum transfer amount will be $20,000. Restrictions do not apply to incoming transfers, the bank stressed. It is clarified that transfers in euros can still be made by all bank customers, taking into account the minimum transfer amount of $20,000 established from April 3. For other currencies, the limits remain the same: 10,000 pounds sterling and Swiss francs, 70,000 yuan and 1,000,000 yen . The bank noted that the commission for all transfers will be fixed - $300 or euros, as well as the equivalent for other currencies. The last time Raiffeisenbank changed the terms of currency transfers for individuals from March 6th. For online transfers, the minimum amount was set at $10,000 or the equivalent in another currency at the exchange rate of the Central Bank. For transfers at a bank branch, the limit depended on the currency.
136 RUSSIA Country Report Russia April 2023 www.intellinews.com