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Raiffeisen doesn't see big hit from Russia sanctions
August 8, 2014 / 2:26 PM / 3 years ago

Raiffeisen doesn't see big hit from Russia sanctions

VIENNA, Aug 8 (Reuters) - Raiffeisen Bank International on Friday played down the potential impact of Western sanctions on its crucial Russian business.

“We don’t expect the new U.S. or EU sanctions to have any significant direct effect on RBI’s business,” Chief Risk Officer Johann Strobl said in comments released by emerging Europe’s second-biggest lender.

He also expressed confidence that the Raiffeisen group would hold up well in the European Central Bank-led Asset Quality Review (AQR) health checks of euro zone major banks, including its unlisted parent, Raiffeisen Zentralbank.

“The AQR process and stress tests are still ongoing. As of yet, there has been no response from the ECB. Nevertheless, we believe that we will pass both the AQR and stress test,” he said. (Reporting by Michael Shields; editing by Jason Neely)

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