Alfa denied on Monday an Austrian newspaper report that it was in exclusive talks to buy Raiffeisen Bank International's Ukrainian unit.
"There are no exclusive talks with Raiffeisen on behalf of Alfa Group," a spokesman for Russia's biggest privately owned lender said in response to a weekend report by Der Standard, which said RBI wanted 1.3 billion euros ($1.77 billion) for the unit.
"In this light, it is difficult even to comment on the amount," the Alfa spokesman said, without giving further details.
Alfa Banking Group owns Alfa Bank.
RBI is also looking at offers for its Hungarian unit as it sharpens its focus on core markets.
A spokeswoman for RBI had said Sunday: "We do have several offers for Aval, which we are looking at at the moment. No decision has been taken whatsoever, though."