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Raiffeisen says Russia, Ukraine business holding up
June 23, 2014 / 10:12 AM / in 3 years

Raiffeisen says Russia, Ukraine business holding up

VIENNA, June 23 (Reuters) - Raiffeisen Bank International’s business in Russia and Ukraine is holding up well despite a political standoff between the countries, which has fuelled East-West tensions, RBI Chairman Walter Rothensteiner said on Monday.

“Business in both countries is going relatively without complaint,” Rothensteiner, who is also chief executive of RBI’s unlisted parent Raiffeisen Zentralbank (RZB), told reporters. Russia is RBI’s most profitable single market.

Rothensteiner reiterated that RBI, which this month repaid 1.75 billion euros ($2.38 billion) in Austrian state aid it got in 2009 to help weather the financial crisis, would repay by year’s end the non-voting capital it raised at the same time from private investors.

A third of the remaining 750 million euros is owed to RZB, a third to Germany’s DZ Bank and a third to other private investors, he said. ($1 = 0.7366 Euros) (Reporting by Michael Shields; Editing by Georgina Prodhan)

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