2024-09-20 (11:15 CEST) RBI signs agreement on the sale of Priorbank JSC to Soven 1 Holding Limited

Raiffeisen Bank International AG (RBI) has today signed an agreement on the sale of its 87.74 per cent stake in Priorbank JSC and its subsidiaries to Soven 1 Holding Limited – thereby completing the negotiations which were announced on February 14, 2024 (Ad-hoc release February 2024). The transaction is subject to regulatory approvals and successful closing, which is expected in Q4/2024.

• At closing, the transaction is expected to have an estimated negative impact of approximately EUR 300 million on RBI Group’s consolidated profit, resulting mainly from the difference betweenpurchase price and book value of Priorbank JSC.
• At closing, the impact on RBI Group’s CET1 ratio excluding Russia is expected around -5 basis points, resulting from the estimated difference between purchase price and book value of the equity and from the deconsolidation of the RWAs of Priorbank JSC.
• At closing, the transaction is expected to have a further estimated negative impact on RBI Group’s consolidated profit of c. EUR 500 million. This will have no impact on the regulatory capital andcapital ratios of RBI Group and is related to the reclassification of predominantly historical FX losses currently recognized in other comprehensive income.
  

With the completion of this transaction, RBI will have successfully exited the Belarusian market, and thereby reduced its operational complexity in line with its de-risking strategy in Eastern Europe.

Under its new ownership Priorbank JSC will operate in a fully independent manner.