The Austrian "Raiffeisen Bank International" (RBI) has no plans to exit Russia this year, reports APA.

RBI's CEO Johann Strobl stated that they previously mentioned a possible separation date by December 31, which now seems very unlikely.

According to Strobl, before deciding on the separation of the Russian subsidiary, they need to explore all options for its sale.

The head of RBI noted that both options - selling or separating the Russian business - remain possible.

He stated that the reason for postponing the schedule for the separation of the Russian subsidiary is that they have not yet found a simpler way of deconsolidation through a sale.

However, RBI needs to obtain numerous approvals from regulators in Russia and Europe for this process, and it is currently unclear how much time this will take.