2024-11-29 RBI successfully closes the sale of Priorbank JSC

Raiffeisen Bank International AG (RBI) has today closed the sale of Priorbank JSC to Soven 1 Holding, a deal which was announced in February 2024 and signed in September 2024.

“This is an important step in our commitment to de-risking our exposure to Eastern Europe. At the same time, we are grateful to our colleagues at Priorbank for their commitment throughout the sales process, and for the excellent service delivered to our customers in Belarus since 2003," commented CEO Johann Strobl on the sale.

The transaction will have an effect of minus 5 basis points on the CET1 ratio of RBI Group excluding Russia at the end of 2024, resulting from the difference between the proceeds of the sale and the book value of the equity. There is an approx. EUR 830 million negative impact to the income statement, recognized under gains/losses from discontinued operations, of which around EUR 480 million have previously been deducted from Group equity and result from the reclassification of other comprehensive income items. The deconsolidation is effective as of today’s closing.