Raiffeisen Bank International
Austrian banking group serving corporate, retail and institutional customers across Austria and Central and Eastern Europe.
Last updated August 27, 2026
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Overview
Raiffeisen Bank International (RBI) is an Austrian banking group headquartered in Vienna and a central institution within the decentralized Raiffeisen Banking Group. It combines two roles: it serves as a central financial entity for the Austrian Raiffeisen network and acts as the holding company for the group's banking operations outside Austria. RBI is listed on the Vienna Stock Exchange, while its ownership structure remains closely connected to the regional Raiffeisen-Landesbanken, which collectively control a majority of its equity. The modern RBI was created in 2010 through the combination of the international operations of Raiffeisen Zentralbank Österreich (RZB) and Raiffeisen International Bank-Holding AG. The transaction brought the international banking business into a single listed institution while leaving RZB's core role as the central organization of Austria's decentralized cooperative banking system distinct. RBI began operating on 11 October 2010 and inherited a broad network in Central and Eastern Europe, including retail and corporate banks, leasing companies, asset-management businesses and other financial-services operations. The group expanded and reorganized its regional footprint over time. It opened a Hong Kong branch in 2013, later closed offices in China, sold its Slovenian banking subsidiary in 2016, and exited Bulgaria after selling Raiffeisenbank Bulgaria and related businesses to KBC in 2022. It also acquired Crédit Agricole Srbija through its Serbian subsidiary in 2022, strengthening its position in the Serbian market. Its regional network has included operations in Albania, Bosnia and Herzegovina, Croatia, the Czech Republic, Hungary, Kosovo, Romania, Serbia, Slovakia, Ukraine and Russia, although the scope and ownership of individual businesses have changed. A major institutional turning point came in March 2017, when RBI absorbed Raiffeisen Zentralbank in a reverse merger. Since then, RBI has been a significant institution under European Banking Supervision and is directly supervised by the European Central Bank. The merger consolidated the listed international bank and the central Austrian Raiffeisen institution, making RBI the principal group-level banking entity. RBI's business model spans retail banking, small and medium-sized enterprise banking, corporate banking, investment banking, payments, leasing, asset management and other financial services. Its brand positioning reflects the cooperative Raiffeisen tradition, but its international subsidiaries operate as commercial banks in their respective markets. The group has historically emphasized local market knowledge combined with centralized risk management, capital allocation, treasury, technology and group governance. RBI's continued presence in Russia and Belarus has become the defining issue surrounding its recent public profile. The group remained one of the largest Western banking institutions operating in Russia after the 2022 invasion of Ukraine, exposing it to regulatory, reputational and geopolitical pressure. The United States Treasury requested information about the Russian business in 2023 and warned in 2024 that the bank could face consequences affecting access to the U.S. financial system. Ukraine also designated RBI an international sponsor of war in 2023, though the bank was later excluded from Ukraine's list connected with a subsequent EU sanctions package. RBI has stated that it has pursued potential transactions that could result in the sale or spin-off of its Russian subsidiary and its deconsolidation from the group, subject to applicable law and regulatory approval. The Russian and Belarusian operations have therefore remained central to the group's strategy, compliance obligations and stakeholder relations.
History
Raiffeisen Bank International emerged from the internationalization of Austria's cooperative Raiffeisen banking system. Before RBI was formed, Raiffeisen Zentralbank Österreich served as the central institution of the decentralized Austrian Raiffeisen Banking Group, while Raiffeisen International Bank-Holding AG operated as a listed holding company for banking businesses in Central and Eastern Europe. In February 2010, RZB announced a possible combination of its internationally oriented activities with Raiffeisen International. The boards approved the proposal in April, shareholders approved it in July, and the new bank began operations on 11 October 2010. The transaction created a listed group capable of coordinating a substantial regional banking network while preserving the cooperative relationship with Austria's regional Raiffeisen banks. By the end of 2010, the group reported more than 14 million customers and approximately 3,000 branches. Its geographic model relied on locally incorporated banks serving households and businesses, supported by RBI's group-level treasury, capital-markets, risk-management and strategic functions. During the following years, RBI adjusted its international footprint. It opened a Hong Kong branch in 2013 as part of its support for cross-border business, but later closed its Xiamen branch and Harbin office. In 2016, it sold Raiffeisen Banka in Slovenia to Apollo Global Management and the European Bank for Reconstruction and Development. In 2017, RBI suspended a planned initial public offering of Raiffeisen Bank Polska. The most important structural change occurred in March 2017, when RBI merged with Raiffeisen Zentralbank in a reverse takeover. The transaction had been approved at an extraordinary general meeting in January. After the merger, RBI became the main group-level institution for both the Austrian central function and international subsidiaries. It has been classified as a significant institution under European Banking Supervision and is directly supervised by the European Central Bank. RBI also remains a member of the Austrian Raiffeisen Association, which represents and supports Austrian Raiffeisen cooperatives. RBI continued to consolidate selected markets. In Serbia, its subsidiary agreed in 2021 to acquire Crédit Agricole Srbija. The transaction received regulatory approval and transferred ownership on 1 April 2022, bringing the Serbian business into the Raiffeisen group. The two banks were subsequently expected to merge. In Bulgaria, RBI agreed in November 2021 to sell Raiffeisenbank Bulgaria and related businesses to KBC. Bulgarian competition authorities approved the transaction in 2022, and completion on 7 July 2022 ended RBI's presence in that market. The group's Russian and Belarusian operations have generated sustained political and regulatory controversy. In 2020, RBI arranged Belarusian government bonds while opposition figures, protesters and journalists faced repression under President Alexander Lukashenko. Opposition representative Pavel Latushko accused RBI of supporting the Belarusian government; RBI rejected the allegation that it economically supported human-rights violations. After Russia's full-scale invasion of Ukraine in February 2022, RBI became one of the largest Western banks still operating in Russia. Its continued presence attracted criticism from Ukraine, Western governments and civil-society organizations. The U.S. Treasury sought information about the Russian business in 2023, while Ukraine named RBI an international sponsor of war in March of that year. RBI said it was examining transactions that could lead to the sale or spin-off of Raiffeisenbank Russia and its removal from the consolidated group, subject to legal and regulatory requirements. The issue has remained a major strategic constraint and reputational challenge for the bank.
- 2022
Serbian acquisition completed
[1]Ownership of Crédit Agricole banka Srbija transfers to Raiffeisen's Serbian subsidiary on 1 April.
- 2022
Bulgarian exit
[1]KBC completes its purchase of RBI's Bulgarian banking and associated financial-services operations on 7 July.
- 2021
Agreement to acquire Crédit Agricole Srbija
[1]RBI agrees to acquire Crédit Agricole's Serbian banking subsidiary through Raiffeisen banka a.d. Beograd.
- 2017
Merger with Raiffeisen Zentralbank
[1]RBI completes the reverse merger with its former parent, consolidating the group's central Austrian and international banking functions.
- 2016
Slovenian divestment
[1]RBI sells Raiffeisen Banka in Slovenia to Apollo Global Management and the European Bank for Reconstruction and Development.
- 2013
Hong Kong expansion
[1]RBI opens a Hong Kong branch to support business involving Asia and its European markets.
- 2010
RBI is established
[1]The international operations of RZB and Raiffeisen International are combined, and Raiffeisen Bank International begins operations on 11 October.
Products and positioning
A cross-border Austrian banking group combining the cooperative Raiffeisen tradition with commercial banking franchises in Central, Eastern and Southeastern Europe.
Banking
Retail banking
RBI's local subsidiaries provide individuals with current accounts, savings products, consumer lending, mortgages, cards, digital banking and everyday payment services. Product menus differ by country because the businesses are separately regulated local banks, but they share the Raiffeisen brand and group infrastructure.
Banking
Corporate and SME banking
Corporate and SME banking supports companies with working-capital finance, investment loans, deposits, cash management, trade finance, foreign exchange and cross-border banking. This is a core part of RBI's role as a bridge between Austrian and European clients and markets in Central and Eastern Europe.
Financial services
Investment banking and capital markets
The group provides selected advisory, financing, securities, foreign-exchange, treasury and capital-markets services to corporations, financial institutions and institutional investors. These activities complement the local commercial-bank franchises and support cross-border transactions.
Financial services
Leasing
RBI-affiliated leasing companies finance vehicles, equipment and other business assets. Leasing has historically operated alongside local banking subsidiaries and forms part of the group's broader offering to businesses and retail customers.
Asset management
Asset management
The group has operated asset-management businesses connected with its regional banking network, offering investment products and portfolio-management services. The presence and product range vary by market and may change as subsidiaries are reorganized or divested.
Controversies
2023
Russian operations and international-sponsor designation
RBI's continued operation of its Russian subsidiary after the invasion of Ukraine led to scrutiny by the U.S. Treasury and designation by Ukraine's National Agency on Corruption Prevention as an international sponsor of war. RBI stated that it was assessing a sale or spin-off of the Russian business, while continuing to cite legal and regulatory constraints.
2020
Belarusian government-bond controversy
RBI arranged Belarusian government bonds during a period of political repression following mass protests. Opposition representative Pavel Latushko accused the bank of supporting the Lukashenko government and called for an end to relationships with Belarusian state banks. RBI rejected the accusation that it supported human-rights violations.
Brand decisions
2023
Explore sale or spin-off of Russian subsidiaryStrategyBackground
RBI faced sanctions-related, political and reputational pressure because it remained active in Russia after the invasion of Ukraine.
Action taken
The group said it would pursue potential transactions that could sell or spin off Raiffeisenbank Russia and remove it from RBI's consolidated group, subject to law and regulatory approval.
Aftermath
The Russian business remained a central unresolved issue in RBI's international strategy and compliance environment.
2022
Sell Bulgarian operations to KBCM&ABackground
RBI agreed to divest its Bulgarian banking operations and associated financial-services subsidiaries.
Action taken
KBC acquired Raiffeisenbank Bulgaria and related businesses, completing the transaction in July 2022.
Aftermath
RBI exited the Bulgarian market and KBC expanded its regional banking presence.
2021
Acquire Crédit Agricole SrbijaM&ABackground
RBI sought to strengthen its Serbian banking franchise through the acquisition of Crédit Agricole's local subsidiary.
Action taken
RBI's Serbian subsidiary agreed to acquire Crédit Agricole Srbija, subject to regulatory approval.
Aftermath
The transaction closed in April 2022 and was followed by plans to merge the two Serbian banking businesses.
2017
Merge with Raiffeisen ZentralbankM&ABackground
The group pursued a structural consolidation of the listed bank and its former parent.
Action taken
RBI completed a reverse merger with Raiffeisen Zentralbank in March 2017.
Aftermath
RBI became the principal group-level institution and was subsequently directly supervised by the European Central Bank as a significant institution.
2010
Combine international banking operationsM&ABackground
RZB and Raiffeisen International sought to place the international banking activities in a single listed institution while retaining RZB's central role in the Austrian cooperative network.
Action taken
They obtained shareholder approval and established RBI, which began operations in October 2010.
Aftermath
The transaction created the group structure that RBI uses to manage its Austrian central function and international subsidiaries.
Recent events
- Unconfirmed
RBI partners with AxeTrading and Integral on bond trading solution[3]
Reported:
Raiffeisen Bank International partnered with AxeTrading and Integral to provide real-time streaming FX prices in its bond-trading workflow. The collaboration enabled faster pricing for local-currency bond clients and reduced response times to quote requests.
- Unconfirmed
EBRD and Raiffeisen banks team up to expand lending in Albania[4]
The EBRD, Raiffeisen Bank International, and Raiffeisen Bank Albania are joining forces to support lending to Albanian businesses. The EBRD is providing Raiffeisen Bank Albania with an unfunded guarantee of up to €100 million, enabling the bank to increase lending; at least €10 million is allocated to green projects.
Sources4 sources
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