Raiffeisen Bank will start a sharp reduction of its Russian business by the end of this year, its CEO has announced Austria’s Raiffeisen Bank International (RBI), one of the last major Western lenders in Russia, will start its withdrawal from the country in the third quarter of this year under pressure from the EU regulator, CEO Johann Strobl announced on Thursday. The Vienna-based lender said in April it was expecting to receive a request from the European Central Bank (ECB) to speed up its business reduction in Russia. The ECB’s draft of the requirements demands that RBI slash loans to customers by a further
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