OREANDA-NEWS The Austrian banking group Raiffeisen Bank International is considering the possibility of a partial sale of shares in its Russian subsidiary - up to 60%, said the head of the group, Johann Strobl.

"Currently, we assume that the highest probability that we will be able to sell is about 60%. So we will have to keep 40% for ourselves," he replied to a question about the group's plans for the Russian business.

Strobl noted that at least five regulators would be involved in such a deal. At the same time, the group intends to obtain approval not only from Russian and European regulatory authorities, but also from the American Office of Foreign Assets Control (OFAC) in order to achieve a "smooth transaction" and "reduce the risks between the signing of the transaction and its closure."

The head of the group added that the group also does not abandon the scenario of allocating Russian business.
Raiffeisenbank has been operating in Russia with the Austrian Raiffeisen Bank International AG (RBI) since 1996. Raiffeisen Bank International is currently considering possible options for Raiffeisenbank's future, including an exit from capital. In January of this year, the head of the group stated that RBI considers the sale of Raiffeisenbank a more likely scenario than the separation of this Russian "daughter" into a separate structure.

According to the group's financial statements, Raiffeisen Bank International's (RBI) profit after tax from operations in Russia in the first half of the year increased by 2.8% year-on-year to 705 million euros. This is 53% of the group's total profit (1.324 billion euros).