Raiffeisen is one of the only major Western lenders remaining in the sanctioned country European banking group Raiffeisen’s profitability in Russia has continued to decline, falling 5.7% from January to September to just over $1 billion, the group’s latest report has shown. According to the document, released this week, operating income was down 19.2% to €2.1 billion ($2.2 billion). The Austrian lender’s loan portfolio declined by two thirds over the nine-month period, to €6.3 billion. For the third quarter, the bank's profit in Russia after tax amounted to €339 million, which is 2.3 times less than in the same pe
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