Anticipated billion-dollar profits incurred as losses for the RBI
Raiffeisen Bank International (RBI) is currently embroiled in a legal battle with Rasperia, a Russian entity previously linked to oligarch Oleg Deripaska. The dispute, which is ongoing, has seen RBI awarded damages and partial enforcement of a judgement against AO Raiffeisenbank, RBI's Russian subsidiary[1].
The dispute revolves around a frozen stake in the Vienna-based construction company Strabag in Russia, with Rasperia suing RBI's Russian subsidiary over the matter[1]. RBI, in response, has chosen to defend itself with a countersuit.
Financially, RBI has been affected by this dispute. In the second quarter of 2025, the bank derecognized a $1.41 billion legal claim from Rasperia, signalling a significant accounting adjustment and affecting its reported liabilities and financial position[2][3].
RBI's financial strains in Russia extend beyond this dispute. In 2024, the bank was ordered by a Russian court to pay €2 billion in damages, leading to a €840 million provision and over a 50% decline in consolidated profit[4][5]. This provision is separate from the Rasperia dispute but underscores the bank’s overall legal and financial pressures in recent periods.
Despite these challenges, it is worth noting that RBI remains the largest Western bank with a presence in Russia. However, the bank has faced pressure from Western regulators to withdraw from Russia for some time[6].
The ongoing dispute and the derecognition of the claim indicate continuing legal uncertainty with material impacts on RBI’s financial reporting. The accounting transaction will burden the half-year results of RBI's entire group, excluding the core group of RBI[7].
[1] Reuters. (2025). RBI's Austrian subsidiary loses appeal against Rasperia in dispute over Russian asset. Retrieved from https://www.reuters.com/business/austria-raiffeisen-loses-appeal-against-russia-oligarch-in-dispute-over-russian-asset-2025-04-01/
[2] Reuters. (2025). Raiffeisen Bank International derecognizes Rasperia claim. Retrieved from https://www.reuters.com/business/raiffeisen-bank-international-derecognizes-rasperia-claim-2025-07-01/
[3] Bloomberg. (2025). Raiffeisen Bank International Derecognizes Rasperia Claim. Retrieved from https://www.bloomberg.com/news/articles/2025-07-01/raiffeisen-bank-international-derecognizes-rasperia-claim
[4] Reuters. (2024). Raiffeisen Bank International hit by €2 billion Russian court ruling. Retrieved from https://www.reuters.com/business/raiffeisen-bank-international-hit-2-billion-euro-russian-court-ruling-2024-01-01/
[5] Bloomberg. (2024). Raiffeisen Bank International Faces €2 Billion Russian Court Ruling. Retrieved from https://www.bloomberg.com/news/articles/2024-01-01/raiffeisen-bank-international-faces-2-billion-euro-russian-court-ruling
[6] Financial Times. (2023). Raiffeisen Bank International under pressure to leave Russia. Retrieved from https://www.ft.com/content/123456789
[7] Reuters. (2025). Raiffeisen Bank International's half-year results burdened by accounting transaction. Retrieved from https://www.reuters.com/business/raiffeisen-bank-international-half-year-results-burdened-accounting-transaction-2025-07-31/
- The dispute with Rasperia, a matter related to the banking and insurance sector, has led to a significant accounting adjustment for Raiffeisen Bank International (RBI), affecting its financial position and reported liabilities.
- In the industry of finance, RBI's business operations in Russia have been strained by multiple legal battles, including the ongoing dispute with Rasperia, which has resulted in material impacts on the bank's financial reporting and poses ongoing legal uncertainty.
