The managers developed a secret barter scheme: Sberbank acquires Raiffeisen’s assets in Russia, and RBI acquires Sberbank’s assets in Vienna.
Raiffeisen Bank International (RBI) is planning an asset swap operation in Russia and Austria with Sberbank. Falter writes about it.
Raiffeisen Bank International is working on a project called Roter Vogel to acquire the remaining assets of Sberbank Europe, according to RBI board documents obtained by Falter.
“In essence, this is a hidden barter developed by Raiffeisen managers, led by CEO Johann Strobl: the state-owned Russian Sberbank receives Raiffeisen’s assets in Russia, and the RBI receives assets of Sberbank in Vienna,” the newspaper wrote.
The document states that Sberbank of Russia will receive a claim for the payment of dividends and / or subordinated loans from the RBI or, alternatively, from Raiffeisen Bank Belarus.
In particular, we are talking about the profit of Raiffeisen Bank Russia in 2022 in the amount of € 2 billion. Alternatively, the entire Priorbank, Raiffeisen’s Belarusian subsidiary, could be transferred to Sberbank.
“This is the purchase price the RBI is willing to pay for the remaining assets of Sberbank Europe,” Falter concluded.
It was earlier reported that India uses SWIFT for dollar settlements with the Russian Federation.
European banks hit a 20% fall in Credit Suisse shares
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.