Latest news with #RaiffeisenBank
Reuters
11-08-2025
- Business
- Reuters
Raiffeisen's Russian unit reports H1 profit rise to $1.05 billion
MOSCOW, Aug 11 (Reuters) - Austrian lender Raiffeisen Bank International's ( opens new tab Russian subsidiary reported a 17.8% year-on-year increase in first-half profits, the unit said in a results filing. Raiffeisenbank, the subsidiary, reported first-half profit of 83.9 billion roubles ($1.05 billion), up from 71.3 billion roubles a year earlier, according to Russian accounting standards. With Western sanctions over the conflict in Ukraine blocking most major Russian banks from access to the SWIFT global payments system, RBI, the biggest Western bank in Russia, has been profiting from handling valuable international money transfers and earning high interest on deposits. The bank has come under intense pressure from the United States as well as European regulators to pare its ties to Russia, something it is now doing. In the second quarter, RBI swung to a loss after a 1.2 billion euro ($1.4 billion) write-off over a legal dispute in Russia. The Russian unit of Italian lender UniCredit ( opens new tab posted a 39% year-on-year rise in first-half profit, net of currency effects, boosted by a sharp drop in loan loss provisions and trading gains, according to financial data the lender published in late July. A Russian court last week lifted interim measures that effectively banned RBI from selling its subsidiary. RBI said just one hurdle had been removed, while others hampering any sale, such as regulatory approval from the Russian authorities, remain. ($1 = 79.8455 roubles) ($1 = 0.8628 euros)
Reuters
05-08-2025
- Business
- Reuters
Russian court lifts temporary freeze of Raiffeisen's shares in its Russian unit
MOSCOW, Aug 5 (Reuters) - A Russian court has lifted interim measures that froze shares owned Austria's Raiffeisen Bank International ( opens new tab in its Russian subsidiary, a lawyer for the bank and the Russian unit, Raiffeisenbank, told Reuters on Tuesday. In June, a Russian court rejected RBI's bid to lift an injunction banning the sale of its local subsidiary. The ban, now lifted, was tied to a lawsuit brought by Russian investment firm Rasperia after a collapsed deal in which RBI was ordered last year to pay around 2 billion euros ($2.31 billion) in damages. RBI did not immediately respond to a request for comment. ($1 = 0.8667 euros)
Reuters
10-06-2025
- Business
- Reuters
Investment firm Rasperia asks court to keep Raiffeisenbank proceedings inside Russia
June 10 (Reuters) - Russian investment company Rasperia has filed a new lawsuit involving Raiffeisen Bank International's ( opens new tab local subsidiary, seeking to prevent any legal proceedings from taking place outside Russia, court filings showed. RBI has paid more than 2 billion euros ($2.28 billion) in damages in a separate case brought by Rasperia. The transfer of interest was completed last week, a key step in RBI's struggle to gain Russian regulatory clearance for the sale of its subsidiary in the country. Rasperia named Raiffeisenbank - RBI's Russian subsidiary - and other Russian-based entities connected to Vienna-based construction company Strabag ( opens new tab in the new lawsuit, filed on Monday. The court filings noted that Rasperia was seeking to prohibit the "initiation or continuation of proceedings" in courts outside of Russia. RBI, Raiffeisenbank, Strabag and Rasperia did not immediately respond to requests for comment. Rasperia's lawyer, Igor Ozerskiy of K&P Group, said the new lawsuit was aimed at preventing the defendants from pursuing arbitration proceedings in the Netherlands and was requesting that entities violating the proposed ban be fined 1 billion euros. Ozerskiy said that Rasperia believes the Russian court decision in the damages case should be unconditionally enforced. RBI has been under intense pressure from the United States and European regulators to pare its ties to Russia, and is in the process of doing so. Also on Monday, a different Russian court postponed a decision on whether to lift an order, first imposed in September 2024, banning the sale of RBI's local unit. That decision is now scheduled for June 18, court filings showed. The bank vowed in late April to fight against Russian court rulings that ordered it to pay damages over a collapsed investment deal that RBI hoped would allow it to unlock some of the billions of euros it has frozen inside Russia. RBI had sought to buy a stake in Strabag from Rasperia, but pulled out under pressure from Washington. ($1 = 0.8760 euros)
Reuters
05-06-2025
- Business
- Reuters
Austria's Raiffeisen completes damages payment to Russia
VIENNA, June 5 (Reuters) - Raiffeisen Bank International ( opens new tab said on Thursday that Russia's central bank had debited 174 million euros ($199 million) from the Austrian lender's account to complete the payment of damages imposed by Russia. The payment of interests, which completes the transfer of the more than 2 billion euros in damages due, has previously been seen as a key step in the struggle for Russian regulatory clearance of Raiffeisen's plans to sell its Russian subsidiary. Last year, the bank came under intense pressure from the United States as well as European regulators to pare its ties to Russia, something it is in the process of doing. The lender has been working on a sale of its Russian subsidiary for more than three years since Russia's invasion of Ukraine. Russia's central bank had previously taken almost 1.9 billion euros from the lender to settle a court dispute in Russia. Earlier this year, a Russian court awarded more than 2 billion euros of damages against RBI in a dispute that erupted after an unsuccessful attempt to unlock some of the bank's frozen billions in Russia. ($1 = 0.8839 euros)
Finextra
21-05-2025
- Business
- Finextra
Raiffeisen Bank goes live with Temenos Core in Bosnia-Herzegovina
Temenos (SIX: TEMN) today announced that Raiffeisen Bank dd Bosnia-Herzegovina, a member of Austrian-based Raiffeisen Bank, has successfully gone live with Temenos Core for retail banking. 0 The core modernization marks a significant milestone, enabling Raiffeisen Bank dd Bosnia-Herzegovina to enhance customer experience and drive greater efficiency. Raiffeisen Bank is one of Austria's leading corporate and investment banks, with €200bn of total assets and subsidiaries in 11 Central and Eastern European markets. Its Bosnian network unit is the second largest bank in Bosnia-Herzegovina, serving around 500,000 customers across the retail, corporate and SME segments. By migrating from its legacy system to Temenos, Raiffeisen Bank dd Bosnia-Herzegovina has migrated its current account operations in the country to the same modern, agile core banking solution already in use in other markets of RBI, including Kosovo, Slovakia and Poland. This will help the bank to streamline operations and automate processes for increased efficiency and an improved customer experience. Deployed on Red Hat's OpenShift hybrid cloud, Temenos' scalable, cloud-based solution will help Raiffeisen Bank dd Bosnia-Herzegovina to future-proof its operations, supporting its growth ambitions and enabling the migration of additional capabilities over time. Temenos' flexible, API-based architecture and comprehensive functionality will also enable the bank to drive faster time to market and reinforce its reputation for innovation in Bosnia-Herzegovina. The successful implementation was the result of close collaboration between Temenos, delivery partner Tech Mahindra and Raiffeisen Bank's own specialist team, certified for its in-depth knowledge of Temenos solutions. Kreshnik Halili, Board Member for Operations and IT, Raiffeisen Bank dd Bosnia-Herzegovina, said: 'This go-live with Temenos is an important part of Raiffeisen's mission to transform continuous innovation into superior customer experience. Temenos' modern, integrated core banking solution, which has already proven its worth in other parts of the RBI group, will give us increased efficiency and flexibility for our operations in Bosnia-Herzegovina. This will help us to drive continued growth in this important market, building on our leading position and strong reputation for innovation.' Mark Yamin-Ali, Managing Director - Europe, Temenos, commented: "Congratulations to Raiffeisen Bank dd Bosnia-Herzegovina on this successful implementation. We're proud to build on our longstanding relationship with one of Austria's largest banking groups, helping them bring the benefits of Temenos' market-leading core banking solution to another European market. This success showcases Temenos' strong delivery capability as we work to modernize financial institutions by building on the most trusted, industry-leading technology solutions.'
