MOSCOW, September 13 Raiffeisenbank refused the special depository license because it transferred clients for servicing to a “subsidiary” specially created for these purposes, the press reported — bank service.
«Raiffeisenbank refused the license to operate a specialized depository, since in 2023 it transferred all clients for servicing to a subsidiary company, RBRU Specialized Depository, specially created for these purposes. The company received a license from the regulator on November 16, 2022,» — the bank reported.
«Refusal of the license to operate a specialized depository does not affect the depository activities of the bank. There are no changes in the work of the bank and its subsidiaries, as well as for our clients, no,” the credit institution emphasized.
The Bank of Russia on Wednesday revoked Raiffeisenbank's license to operate as a special depository for investment funds, including mutual funds and non-state pension funds, on the basis of an application to renounce the license.
Raiffeisenbank is a subsidiary of the Austrian Raiffeisen Bank International AG. Working in Russia since 1996. Raiffeisen Bank International is currently considering possible future options for its Russian subsidiary, including an exit from its capital. In May, the Austrian bank said it could not say whether a sale or spin-off of the Russian business would be preferable for the group.