It remains unclear whether the entity would be truly independent of RBI, a decisive factor for whether it should be supervised by Austria or the ECB. If the spin-off proceeds, it could make RBI's owners, led by Austrian community banks, shareholders in a new Vienna-listed entity, with one share for each they now own.
While a spin-off has wide support among Austrian authorities, it faces hurdles, including securing European Central Bank (ECB) approval, as well as the blessing of Washington, which is probing RBI's Russia links. Raiffeisen is now the most important Western bank in Russia, offering a payments lifeline to Russians with few alternatives as Moscow is increasingly isolated over its invasion of Ukraine.Ī spokesperson said Raiffeisen would "continue to progress potential transactions which would result in the sale or spin-off of Raiffeisenbank Russia". But the last-ditch attempt faces hurdles, not least from international regulators, the people told Reuters.
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