Raiffeisen Bank has restrictions on servicing companies in defense sector in accordance with policy of international group

Raiffeisen Bank has restrictions on servicing companies in the defense sector in accordance with the policy of the international group.

Ukrainian News Agency was informed about this by the press service of the bank.

Previously, information was spread on social networks that the bank was sending out letters demanding disclosure of information on the execution of defense orders (including a requirement to provide data on end use), and also, in the same letter, a demand to stop such operations.

The bank informed Ukrainian News Agency that Raiffeisen Bank does not in any way require the client to stop activities related to the defense sector.

But according to the policy of the international group (Austria is a neutral country) and correspondent banks, it has certain restrictions on servicing companies in the defense sector and the production of dual-use products.

As Ukrainian News Agency earlier reported, all information about the client's activities and financial condition that became known to the bank in the process of servicing the client is a banking secret, the disclosure/transfer of which is carried out only in the cases and on the grounds determined by the legislation of Ukraine.

The Czech Centre Against Terrorism and Hybrid Threats has launched an investigation into Raiffeisen Bank International (RBI). The reason for this was the appeal of the Association for the Rights of Citizens and Entrepreneurs, who are dissatisfied with the fact that the subsidiary company of the group continues to work on the russian market.

In the spring of this year, the RBI outlined 2 exit options: the sale of russian assets or their withdrawal from the structure, that is, the actual recognition of losses. Later, the CEO of the Austrian group, Johann Strobl, announced that the deadline for the separation of the russian business, scheduled for September 30, has been postponed. According to Reuters, russian officials made it clear to the group that they would not want it to leave because Raiffeisenbank provides international payments.

Raiffeisen Bank plans to sell or separate of russian business.