Dec 18 (Reuters) – Austrian lender Raiffeisen said on Thursday Russian unit AO Raiffeisenbank would book provisions of 339 million euros ($397.38 million) in the fourth quarter in relation to a second lawsuit by Russian investment company Rasperia.
The bank said a ruling by the Arbitration Court of the Kaliningrad Region decided that Strabag and its Austrian core shareholders are liable to pay the amount to Rasperia and that the verdict can be enforced against AO Raiffeisenbank’s assets.
Raiffeisen was ordered in January to pay damages of 2 billion euros to Russian investment company Rasperia in a landmark ruling that was one of the harshest against a Western company still doing business in Russia.
It is the biggest Western bank still operating there.
The bank said its unit would appeal the verdict with suspensive effect.
The verdict has no impact on financial results of RBI Group excluding Russia, the bank said.
Shares in Raiffeisen fell as much 3.6% to 35.84 euros after the announcement, extending earlier losses.
($1 = 0.8531 euros)
(Reporting by Linda PasquiniEditing by Madeline Chambers)
