21 Aug 2014 16:58

Raiffeisen not affected by sanctions against Russia - RBI CEO

MOSCOW. Aug 21 (Interfax) - Sanctions against Russia have not had a significant impact on the Russian business of Raiffeisen Bank International (RBI), RBI CEO Karl Sevelda said during a conference call Thursday.

"We are not seeing any significant effect of the sanctions on our business in Russia," he said, adding that the group was nonetheless noticing slowing economic growth in Russia.

"We have also shifted our focus from corporate to retail business in Russia, I'll note," Sevelda said.

Raiffeisenbank was Russia's 12th largest bank by assets at the end of H1 2014, according to the Interfax-100 ranking.