Austria’s Raiffeisen Bank International (RBI) says it is unwilling to divest from Russia without compensation. In a conference call Wednesday to discuss the bank’s third-quarter performance, CEO Johann Strobl answered at least four questions about the company’s Raiffeisenbank subsidiary. He highlighted that the RBI prioritizes its “accelerated reduction” in Russia, but rejects a “zero scenario” in which it abandons its Russian assets in exchange for nothing.

Strobl declined to offer a concrete timeline for exiting the Russian market.

Raiffeisen Bank International is one of the largest Western banks still operating in Russia. The company announced plans to divest from the country in the first weeks after the large-scale invasion of Ukraine, and the European Central Bank has pressured the RBI to develop an exit plan. While Raiffeisenbank has cut several important services for clients in Russia, the RBI ran into legal trouble in early September when a Kaliningrad court ordered interim measures against Austrian construction group Strabag SE and several other companies, preventing the RBI from doing business with them. entities. Spokesmen said the Kaliningrad ruling would “inevitably lead to further delays” in the sale of Raiffeisenbank.