Raiffeisen Bank International rejects sanctions evasion claims

Raiffeisen Bank International Grizzly Research short-selling sanctions evasion Russian banking

Raiffeisen Bank International (RBI) is facing intense scrutiny following a report by short-seller Grizzly Research, which alleges the bank's Russian subsidiary has been involved in bypassing Western sanctions. The report claims the Russian branch facilitated trade transactions worth $1.191 billion involving restricted goods, including components used in military production such as tank parts and machinery for nuclear warheads.

Following the report, RBI shares experienced a significant drop, falling between 8% and 9% on the stock market. In response, RBI has decisively rejected the allegations, labeling them as containing numerous misleading statements and factual errors. The bank specifically disputed claims regarding customer terminations and criticized the report's interpretation of Liquidity Coverage Ratios (LCR). RBI is currently reviewing legal options and may initiate proceedings against the authors.

In a show of support, Petrus Advisers Ltd. announced it has purchased RBI shares, describing the Grizzly Research report as fact-poor and lacking substance. Petrus stated that the allegations appear intended to cause harm rather than provide accurate research.

Entities

European Central Bank · Grizzly Research · JSC Raiffeisenbank · Petrus Advisers Ltd. · Raiffeisen Bank International · Raiffeisen Bank International AG · Rupert Reif · Vienna Stock Exchange

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] RBI claims the report contains a fundamental misunderstanding of its Liquidity Coverage Ratios (LCR). anlegerplus.de
[● 2 SOURCES] RBI shares fell by approximately 8 to 9 percent following the publication of the report. www.parkiet.com
[● 2 SOURCES] The bank is considering legal action against the authors of the report. anlegerplus.de
[○ 1 SOURCE] The report alleges the Russian branch was involved in trade transactions worth $1.191 billion involving goods subject to import/export restrictions. www.parkiet.com
[○ 1 SOURCE] Grizzly Research claims $106.75 million worth of goods were used for producing military components, including tank parts and nuclear warhead machinery. www.parkiet.com
[● 2 SOURCES] RBI has decisively rejected the allegations in the short-seller report, calling them misleading and factually incorrect. anlegerplus.de
[● 2 SOURCES] Petrus Advisers Ltd. has purchased RBI shares and stated the report is fact-poor and lacks substance. www.presse-nachrichten.de · www.presseportal.de
[● 3 SOURCES] Grizzly Research claims Raiffeisen Bank International (RBI) facilitated the bypassing of Western sanctions through its Russian subsidiary. www.parkiet.com · www.diepresse.com