Raiffeisen Bank Closes the Correspondent Accounts of Russian Banks

Austria’s Raiffeisen Bank has suspended the correspondent accounts of all banks in Russia except for its Russian subsidiary. This was stated in the presentation about the results of Q1 of 2023.

The Austrian bank also said it continues to study possible options for the future of the Russian business, which may result in its sale or separation from RBI. The bank’s business activity in Russia will also continue to decrease.