March 14, 2019 / 11:11 AM / 4 months ago

Austria's Raiffeisen expects solid growth in Russia

LONDON, March 14 (Reuters) - Raiffeisen Bank International’s (RBI) Russian business has been robust and solid in recent years, and will continue its profitable growth, its finance chief said on Thursday.

“We really can... prove that Russia has a very robust and very resilient model,” said CFO Martin Gruell at an investor conference in London. “We truly believe that this will continue to going forward.”

RBI is one of several European banks facing allegations of involvement in a Baltic money laundering scandal and of failing to prevent tainted Russian money flowing through their branches across the world. The bank reaffirmed on Thursday that it was not aware of any criminal behaviour and does not expect any fine related to the allegations.

Gruell said the recent fall in the lender’s share price, which wiped off around 1 billion euros ($1.13 billion) of its market share, was “totally unjustified”. ($1 = 0.8845 euros) (Reporting by Kirsti Knolle Editing by Tassilo Hummel)

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