VIENNA – Austria’s Raiffeisen Bank International said its banks in Russia and Ukraine are well-capitalised and self-financing, and that provisions were already made last year as part of its risk policy.
“As part of our forward-looking risk policy, we already made provisions last year and increased our rouble hedge and set up a hryvnia hedge,” said the bank in a statement on Thursday.
The bank, which expanded to Russia following the collapse of the Soviet Union and is now one of the European banks with the largest presences there, added that it expected further sanctions and that it could not yet assess at this point whether they would have an impact on it.
(Reporting by Alexandra Schwarz-Goerlich; Writing by Miranda Murray; Editing by Madeline Chambers)