Photo by Alexander Demianchuk (Reuters / Scanpix).
Last year, the biggest Western banks paid more than 800 million to the Kremlin while remaining in Russia. You earn EUR, that is, four times more than before, despite changing your activities in Russia.
According to the Financial Times (FT), the seven largest European banks operating in Russia, Raiffeisen Bank International, UniCredit, ING, Commerzbank, Deutsche Bank, Intesa Sanpaolo and OTP, announced that their total profit in Russia in 2023 boiled 3 billion Eur.
The profit was three times higher than in 2021. and part of it was received, which the banks cannot withdraw from oil.
Due to such zeal for profitability, European banks paid about 800 million. You pay EUR, compared to EUR 200 million. Eur in 2021, according to the analysis carried out by FT.
The Austrian bank Raiffeisen Bank International (RBI), whose volume of operations in Russia is the largest, paid the most, more than half 800 million. Amounts of EUR.
20212023 RBI’s profit in Russia more than tripled to 1.8 billion. EUR and make up half of the total profit, compared to about a third before the war.
Fees paid by the European Bank, corresponding to about 0.4% of the expected 2024. The income of the Russian budget, which is not related to energy, is an example of how the remaining foreign companies help the Kremlin to maintain financial stability, despite the Western sanctions, FT reports.
The publication notes that foreign lenders benefited not only from higher interest rates, but also from international sanctions applied to Russian banks. Thanks to such a measure, the Russian competitor gained access to the international payment system and increased the attractiveness of European banks to customers abroad.
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