After the Austrian bank announced on Friday that it had gotten a request for information from the US sanctions authority about its business with Russia, shares of Raiffeisen Bank International dropped more than 7% at market open on Monday.
Raiffeisen stated earlier in February that it received more than half of its 2022 profit from Russia, a market it is thinking about leaving in light of the nation’s attack of Ukraine.
Since the fall of the Soviet Union, RBI has been operating in Russia and currently ranks tenth in terms of assets.
Since the beginning of the conflict in February of last year, the bank’s shares have decreased by 19%.