Russian Court Upholds Verdict Against Raiffeisen Bank International Subsidiary

A Russian appeal court has upheld a first-instance verdict in favor of Rasperia Trading Limited against STRABAG SE, its Austrian shareholders, and RBI's Russian subsidiary, AO Raiffeisenbank.

As a result of this confirmed verdict, AO Raiffeisenbank is mandated to pay EUR 2.044 billion plus interest in damages. However, Raiffeisen Bank International (RBI) Group expects no additional profit & loss impact beyond the EUR 840 million provision already recorded in Q4/2024. This provision accounted for the damages awarded to Rasperia, offset by anticipated proceeds from enforcing legal recourse against Rasperia's assets in Austria.

AO Raiffeisenbank plans to appeal this verdict further in Russia. Concurrently, RBI Group is finalizing its claim against Rasperia in Austria, with filing expected in Q2/2025. Additionally, a transfer ban on AO Raiffeisenbank shares, imposed to secure payment, is expected to be lifted once the damages are disbursed.