The European Central Bank is pushing Raiffeisen Bank International to scale back faster in Russia, seeking a retrenchment so drastic that it could disrupt the Austrian lender's plans to sell the unit. A draft order from the ECB would require Raiffeisen to slash Russian loans by up to 65% by 2026, compared to the third quarter of last year, the bank said Thursday, and to cut back on international payments from Russia. “The ECB’s draft requirements go far beyond RBI’s own plans to further reduce the Russian business and may adversely impact RBI’s options to sell” the unit, it said. Continue reading
ECB Turns Up the Pressure on Austria's Raiffeisen Bank Over Russia
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