EQS-Adhoc: Raiffeisen Bank International AG: AO Raiffeisenbank (Russia) will book a provision for Q4/2024 related to today’s Russian court decision

EQS-Ad-hoc: Raiffeisen Bank International AG / Key word(s):
Miscellaneous/Miscellaneous
Raiffeisen Bank International AG: AO Raiffeisenbank (Russia) will book a
provision for Q4/2024 related to today’s Russian court decision

20-Jan-2025 / 18:44 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS
Group.
The issuer is solely responsible for the content of this announcement.

══════════════════════════════════════════════════════════════════════════

AO Raiffeisenbank (Russia) will book a provision for Q4/2024 related to
today’s Russian court decision

Vienna, 20 January 2025. In the legal proceedings initiated by Rasperia
Trading Limited (“Rasperia”) against STRABAG SE, STRABAG SE’s Austrian
core shareholders and RBI’s (Raiffeisen Bank International) wholly owned
Russian subsidiary AO Raiffeisenbank, a Russian court has today rendered
its verdict. The court has decided that STRABAG SE and its Austrian core
shareholders are liable to pay EUR 2.044 billion to Rasperia and that the
verdict can be enforced against AO Raiffeisenbank’s assets.

AO Raiffeisenbank will appeal this verdict with suspensive effect. Subject
to further developments in Russian courts, RBI Group will take legal
actions in Austria, in full compliance with EU sanction law, to mitigate
damages by seeking enforcement against Rasperia’s assets in Austria.

AO Raiffeisenbank will book a provision for Q4/2024, in accordance with
IFRS and Russian accounting standards. Pending an external audit opinion,
the provision would reflect the amount awarded to Rasperia by the Russian
court today (EUR 2.044 billion) minus the expected proceeds from
enforcement of legal recourse against Rasperia’s assets in Austria. These
consist of 28.5 million STRABAG SE shares, including the attached
dividends from years 2021, 2022, and 2023, and the cash distribution from
the March 2024 capital reduction.

In its verdict, the Russian court has also acceded to Rasperia’s request
according to which the ownership rights for the shares of STRABAG SE held
by Rasperia are to be transferred to AO Raiffeisenbank. However, Russian
verdicts have no binding effect in Austria and the transfer of shares is
therefore not enforceable. Furthermore, Rasperia’s STRABAG SE shares are
subject to an asset freeze under EU sanctions which also currently
prevents their transfer.

For further information please contact:

John P. Carlson, CFA
Head of Group Investor Relations
Raiffeisen Bank International AG
Am Stadtpark 9
1030 Vienna, Austria
ir@rbinternational.com
phone +43 1 71 707 2089
[1] www.rbinternational.com

 

End of Inside Information

══════════════════════════════════════════════════════════════════════════

20-Jan-2025 CET/CEST News transmitted by EQS Group. www.eqs.com

══════════════════════════════════════════════════════════════════════════

Language: English
Company: Raiffeisen Bank International AG
Am Stadtpark 9
A-1030 Vienna
Austria
Phone: +43-1-71707-2089
Fax: +43-1-71707-2138
E-mail: ir@rbinternational.com
Internet: www.rbinternational.com
ISIN: AT0000606306
WKN: A0D9SU
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange;
Luxembourg Stock Exchange, SIX, Vienna Stock Exchange
(Official Market)
EQS News ID: 2071175

 
End of Announcement EQS News Service

2071175  20-Jan-2025 CET/CEST

References

Visible links
1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=24cf7753bad7222932da6e751ef1854f&application_id=2071175&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS. www.ots.at
© Copyright APA-OTS Originaltext-Service GmbH und der jeweilige Aussender