MOSCOW, November 17. Russian Raiffeisenbank can be for sale, instead it is close in size to the Polish “daughter” Raiffeisen Bank International (RBI). According to the newspaper “Kommersant”, such a possibility is discussed at the Board level of the group.
The need to reduce investments in risky assets is still a challenge for RBI, it is impossible without the sale of subsidiary banks, however, buyers for largest Bank in Russia (top-15) not a lot – while interest in the asset confirmed Alfa-Bank, the newspaper notes.
According to newspaper sources, the deal in Poland had virtually collapsed due to objective reasons – in Poland, tougher Bank regulation, and generally in a falling market there is now no opportunity for such transactions.
Russian Raiffeisenbank in terms of assets close to the Polish “daughter” and takes about 10% of the assets of RBI (in Russia – the assets of 12.2 billion Euro, in Poland – 14.7 billion euros), but its contribution to the profit of the parent structure is much more significant – over 50% of the profit of the group. According to international reporting, for the first nine months of 2015 Russian business RBI has brought a net profit of 253 million euros, the Polish – only 40 million euros. The total profit of the group for the period amounted to 432 million euros.
To consider selling its most lucrative asset RBI is forced due to the need to reduce investments in risky assets. After passing the stress test by the ECB in October 2014, on which RBI has shown one of the weakest among major European banks ‘ results, his head Karl Sevelda has said publicly about the plans of an exit from several markets in Central and Eastern Europe.
According to sources of the newspaper, with the regulators RBI – the Central Bank of Austria and ECB – we constantly hear the call for the reduction of presence in Russia. However, the RBI yesterday said that “a Russian Bank is cheap, hoping to sell at least one capital, reports the newspaper’s source. According to experts, these expectations for the price in the current market high.