Raiffeisen Bank International plans to expand its activities in the CIS countries
The Austrian banking group is looking for new growth points amid restrictions in Russia
Quick Look
- Raiffeisen Bank International plans to expand its presence in Kazakhstan and other countries in the region to find new growth points.
- The bank is also completing transactions to purchase assets in Romania and the Balkans, seeking to compensate for indicators affected by restrictions in the Russian Federation.
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Why It Matters
Raiffeisen Bank International faces restrictions on its activities in Russia, which negatively affects the group's financial performance.
Raiffeisen Bank International plans to find new growth points in Russia's partner countries. This was reported by Bloomberg, citing sources in this company.
According to the agency, the Austrian bank, which is soon going to receive 3.15 billion euros, has decided to work more actively in Kazakhstan and other countries in the region. In recent years, this credit institution has demonstrated poor performance due to restrictions imposed on its activities in Russia.
It is also noted that Raiffeisen is currently completing the purchase of the Romanian division of BBVA for 591 million euros, as well as the takeover of the Balkan consumer finance company Addiko. In June, the bank expanded investor access to Uzbek securities, including government bonds. Before that, he ran a small leasing business in Kazakhstan.
Open Questions
- What is the exact expansion schedule in Kazakhstan?
- What other countries in the region are being considered for expansion?
