Support The Moscow Times!

Raiffeisen Bank to Sell Off Ukrainian Unit, Boost Capital

BUCHAREST — Raiffeisen Bank International is in talks to sell its Ukrainian unit, its chief executive said, as the bank seeks ways to raise about 2 billion euros ($2.7 billion) to pay back state aid and meet new capital regulations.

"We are constantly testing the environment in which we are acting and naturally we also hold talks — but we will decide when the time is right," Karl Sevelda told Austrian journalists in Bucharest.

"Of course, some markets are under special review," he said, adding that interested parties were enquiring about buying the Aval unit "all the time."

Forbes magazine wrote recently there were two potential buyers for RBI's Aval, which made a profit of 33 million euros in 2012.

Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.