Austrian lender generated more than half of its profits in Russia and Belarus in the first six months of the year
Bank ditched asset-swap plan connected to oligarch Oleg Deripaska after letter warning of potential secondary sanctions
The parties had conducted an ‘attempted sanctions evasion scheme’ connected to the Russian oligarch, Washington says
Austrian bank continues to make big profits in the country after Putin’s invasion of Ukraine
Western lender with largest operations in Russia decides to ‘walk away’ from deal after pressure from regulators
Bank has reduced Russian loan book but profits and headcount have increased since full-scale Ukraine invasion
Plus, Raiffeisen Bank touts Russian growth in job ads and an investment banking boost in the US
Austrian lender, which has pledged to exit Russia, orders internal probe following FT findings
Shares in Austrian bank fall 8.7% on concerns over Deripaska asset swap deal
Continued ownership of unit has made the Austrian bank a symbol of western accommodation with Vladimir Putin’s Russia
Asset swap will hand oligarch cash in exchange for his stake in Austria’s Strabag construction firm
Operations in the country remain central to bank even as it scales back its lending
Beijing has pushed renminbi as alternative global currency to dollar
Bumper increase in past six months doubles staff costs for largest western lender still operating in country
Austrian lender has come under growing pressure from regulators over status of its business in Russia
Austrian lender in talks with Kremlin-owned bank in an attempt to reduce exposure to Russia
Bank is one of many western companies struggling to exit after Putin’s intervention
A fire sale of the bank’s shares would do investors little good
Full withdrawal would sever one of the lender’s most consistently profitable units
Western executives have limited ways to exit: sell up, wind down or pass the business to the state
Austrian bank generates a third of its profits in the country and has 4.2mn customers and 9,400 staff there
CEO says bank has €473mn of exposure to sanctioned financial institutions and other sanctioned companies
Austrian bank’s exposure to Russia means good profits and low debt levels but steep political risks
Central bank takes action as US threatens ‘massive consequences’ if Moscow invades Ukraine
Carefully managed insolvency process excludes foreign lender
