(Reuters) – Shares in Raiffeisen Bank International fell more than 7% at the open on Monday after the Austrian Bank had said on Friday it had received a request for information from the United States’ sanctions authority about its business related to Russia.
The bank told Reuters on Friday it had received the request from the U.S.
Treasury Department’s Office of Foreign Assets Control (OFAC) in January to “clarify payments business and related processes maintained by RBI in light of the recent developments related to Russia and Ukraine.”
Earlier in February, Raiffeisen reported it earned more than half of its 2022 profit from Russia, a market it is considering exiting after the country’s invasion of Ukraine.
RBI has operated in Russia since the collapse of the Soviet Union and is Russia’s 10th-largest bank by assets.
The bank’s shares have fallen 19% since the start of the war in February last year.
(Reporting by Bartosz Dabrowski in Gdansk; Editing by Paul Carrel)
