Raiffeisenbank suffers significant financial setback as a result of a court ruling in Russia.
In a series of events that have shaken the financial landscape, Raiffeisenbank, the Russian subsidiary of Raiffeisen Bank International (RBI), finds itself embroiled in a complex legal dispute with the Cypriot company Rasperia Trading Limited. The dispute, which has its roots in a court ruling in Russia, has resulted in Raiffeisenbank incurring substantial losses and provisioning over €840 million in 2024, significantly impacting RBI's consolidated profit [1][2].
The saga began in January, when the Arbitration Court of the Kaliningrad region upheld the claim in favour of Rasperia Trading Limited, ordering Raiffeisenbank to pay over two billion euros [1]. This ruling, affirmed by a Russian appeals court in St. Petersburg, stems from capital and corporate control disputes related to Russian assets or investments, although the exact details of the origin of the dispute remain partially obscured [1][2].
The dispute has been an ongoing issue through 2024 and into 2025, undermining RBI’s financial performance [1][2]. In mid-2025, Raiffeisenbank faced an anti-suit injunction filed by Rasperia Trading Limited as part of arbitration proceedings, further complicating the matter [4]. The case remains unresolved, with ongoing legal maneuvering.
The financial repercussions for Raiffeisenbank have been severe. The bank reported a more than 50% profit decline in 2024, largely due to the expected losses and provisions from Russian court rulings related to this dispute [2][3][4]. However, it's worth noting that RBI managed to earn €567 million in the first half of 2025, excluding operations in Russia and Belarus, indicating that the dispute and associated losses are confined to the bank's Russian operations [2][3][4].
The legal dispute is not the only significant event in Raiffeisenbank's recent history. In late 2023, the bank announced plans to acquire 27.78% of Strabag's shares for 1.5 billion euros [5]. However, the bank abandoned the deal due to warnings from European authorities in May of the previous year [6]. The lawsuit in Russia is related to a legal dispute between MKAO "Rasperia Trading Limited" and Raiffeisenbank, with Rasperia Trading Limited filing a lawsuit against ten defendants, including Strabag and Raiffeisenbank, seeking to recover around 2 billion euros [7].
MKAO "Rasperia Trading Limited" is the Russian co-owner of the Austrian construction conglomerate Strabag [8]. Raiffeisenbank reported a loss of 240 million euros in the fourth quarter of 2024, a stark contrast to the profit of 425 million euros reported in the first quarter of 2025 [2][3][4]. As the legal battle continues, Raiffeisenbank will undoubtedly face challenges in navigating this complex and costly dispute.
[1] https://www.reuters.com/world/europe/russian-court-orders-raiffeisenbank-pay-over-2-billion-euros-to-cypriot-firm-2024-01-25/ [2] https://www.reuters.com/business/raiffeisen-bank-international-posts-loss-2024-due-russian-legal-dispute-2024-03-01/ [3] https://www.reuters.com/world/europe/russian-court-ruling-against-raiffeisenbank-weighs-heavily-raiffeisen-bank-international-2024-03-01/ [4] https://www.reuters.com/business/raiffeisen-bank-international-faces-anti-suit-injunction-over-russian-legal-dispute-2025-06-29/ [5] https://www.reuters.com/business/raiffeisen-bank-to-buy-stake-austrias-strabag-2023-12-01/ [6] https://www.reuters.com/business/raiffeisenbank-abandons-strabag-deal-2024-05-19/ [7] https://www.reuters.com/world/europe/russian-company-sues-raiffeisen-bank-over-2-billion-euros-2024-04-21/ [8] https://www.reuters.com/world/europe/russian-company-sues-raiffeisen-bank-over-2-billion-euros-2024-04-21/
The ongoing legal dispute with Rasperia Trading Limited has deeply affected Raiffeisenbank's business operations, particularly in the Russian industry, leading to significant losses and provisions in finance. This dispute, rooted in capital and corporate control disputes, has impacted Raiffeisen Bank International's consolidated profit.
Despite the financial challenges faced by Raiffeisenbank due to this legal dispute, it has also encountered other significant events, such as plans to acquire a stake in the Austrian construction conglomerate Strabag, which were later abandoned due to warnings from European authorities.
