Kommersant met two contenders for Raiffeisenbank’s Russian business

The newspaper’s interlocutor on the financial market did not reveal the names of potential buyers, but emphasized that it is important for Raiffeisenbank to sell the business to an unsanctioned entity to minimize the risks of the credit institution falling under sanctions after the sale. .

An RBI representative confirmed to Kommersant that the group is “working on the sale of a majority stake in Raiffeisenbank.” The timing of the deal’s closure is unknown as it must be approved by Russian and European regulators, the RBI clarified.

According to another source of the newspaper, none of the potential buyers have yet signed binding documents for the purchase and sale of shares. Only after this will the buyer be able to submit a petition to the Central Bank and the Federal Antimonopoly Service to approve the transaction, Kommersant clarified.

In addition, the sale of the business is complicated by a court order in MCAO Rasperia’s lawsuit over transactions in Raiffeisenbank shares. The credit institution is mentioned in the lawsuit, but no claims are filed against it. However, in September 2024, the Arbitration Court of the Kaliningrad Region refused to withdraw the provisional measures. The next meeting will take place on October 16.

• The RBI has been considering selling Russian companies since 2022, but the process has been delayed due to a ban on trading in shares of 45 banks without special permission from Vladimir Putin.

• At the same time, Raiffeisenbank is gradually reducing its activities in Russia. In July 2024, the credit institution suspended the opening of brokerage accounts and in September it limited outgoing transfers in foreign currency.