Raiffeisen Bank International Shares Plummet Amid Russian Court Ruling

Raiffeisen Bank International saw a 7.4% drop in shares following a ruling by a Russian court that froze its holdings in the Russian unit. This development comes as RBI faces pressure from authorities to reduce its presence in Russia due to the ongoing conflict with Ukraine.

Raiffeisen Bank International shares fell 7.4% in early Frankfurt trade on Friday, bottoming the Austrian index, after a Russian court froze RBI's holdings in its Russian unit.

RBI stated it would attempt to reverse the court decision, which is the largest such freeze involving a Western bank in Russia.

The bank has been under pressure from authorities on both sides of the Atlantic to reduce its substantial footprint in Russia following the war with Ukraine, as part of broader efforts to isolate Russia by reinforcing sanctions on banking and limiting access to Western goods.

(With inputs from agencies.)