Austrian banking group scales back operations in Belarus

May 19, BPN. Raiffeisen Bank International, an Austrian banking group, is reducing its correspondent relations in Belarus, spokeswoman Ingrid Ditz confirmed to BPN today.

“I can say that RBI has decided to sharply reduce the correspondent relations in the region and has informed banks about it,” Ditz said. She didn’t specify which banks are affected.

Media reports said RBI told some Belarusian banks that it would end correspondent relations July 31, but the group has not commented officially.

Raiffeisen owns a majority stake in Priorbank (Pryjorbank), which was incorporated in Belarus on July 12, 1991.

Two weeks ago, RBI said that it closed its correspondent accounts to all Russian banks except its subsidiary Raiffeisenbank Russia.