Raiffeisenbank and Unicredit Bank remained on the Central Bank’s list of systemically important credit institutions, which the regulator approved on November 2. This is stated in a message on its website.

Raiffeisenbank and Unicredit Bank remained on the Central Bank’s list of systemically important banks
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In addition to the subsidiaries of Austria’s Raiffeisen Bank International (RBI) and Italy’s UniCredit, the list includes 11 banks: Gazprombank, Sovcombank, VTB, Alfa Bank, Sberbank, Moscow Credit Bank, Otkritie, Rosbank”, “T-Bank”. , “Promsvyazbank” and “Rosselkhozbank”. The register has not changed since 2021, when Tinkoff was included (changed its name to T-Bank).

The list includes credit organizations, the financial condition of which determines the stability of the Russian banking system. The Central Bank noted that systemically important banks represent approximately 79% of the total assets of the entire domestic banking sector.

In July, Vedomosti sources reported that by the fall the regulator would consider excluding Raiffeisenbank and Rosbank from the list of systemically important credit institutions, as the former has been reducing its presence in Russia for several years and the latter is in the process of integration. with T-Bank “

RBI and UniCredit are trying to stop operating in Russia from 2022 and are reducing their presence in the Russian market. In October 2024, Bloomberg sources said that Russian authorities intend to block attempts by these banks to sell their businesses in the country to anyone who may fall under Western sanctions.

The agency noted that the exit of credit institutions is complicated by the rules for the sale of assets to foreigners. In particular, they will have to offer a 60% discount and pay a 35% contribution to the budget.

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Author:

Bogdan Muzychenko

Source: RB

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I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.

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