RBI assessing 'all strategic options' for future of Raiffeisenbank Russia, could consider position in country

MOSCOW. March 17 (Interfax) - Raiffeisen Bank International (RBI), which has said on several occasions that Russia is a key market, might consider its position in the country.

The situation in Ukraine "is having a devastating impact on the country's people and economy. Our thoughts and support are with all those people whose lives have tragically changed forever as a result,", RBI said in a statement.

"This unprecedented situation leads RBI to consider its position in Russia. We are therefore assessing all strategic options for the future of Raiffeisenbank Russia, up to and including a carefully managed exit from Raiffeisenbank in Russia," said RBI-CEO Johann Strobl.

"RBI and its subsidiary banks continue to operate in compliance with local and international sanction laws, changing financial market requirements, and in line with our Code of Conduct," the group said.

"RBI's subsidiary banks are self-funded, well-capitalized, and have insignificant cross-border exposure to Russia. We have a duty of care to our employees and our customers. Across the RBI Group, we are doing everything we can to support them and the humanitarian effort," it said.

RBI has said on several occasions, especially when the geopolitical situation has escalated and tougher sanctions imposed against Russia, that the Russian market is important for it, and that it intended to continue working on it. "Russia is a key market for RBI," it said at the beginning of March, when rumors that it might exit Russia circulated.