Raiffeisenbank announced the termination of interest accrual on savings accounts. At the end of this month, the bank will pay the June interest.
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“From July 1, 2024, Raiffeisenbank will stop accruing interest on savings accounts. June interest will be paid on June 30, 2024 at the current exchange rate in accordance with the rates,” the bank said, adding that money stored in savings accounts can be managed as usual.
The credit institution recommends using investment solutions for placing funds such as “Income Every Day” from Raiffeisenbank JSC and “Confident Income” from Raiffeisen Capital Management Company.
On June 7 it was reported that the Russian subsidiary of the Austrian banking group would reduce its loans at the request of the European Central Bank. By 2026, the RBI’s loan portfolio should be reduced by 65%.
Previously, the US Treasury threatened secondary sanctions on European banks that continue to operate in Russia. Raiffeisenbank has already postponed its departure from the country several times. According to the Financial Times, in the last three years the banking group has made more profits from the Russian division than from all other branches in the world.
Author:
Natalia Gormaleva
Source: RB
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