While doing business in Russia Raiffeisen Bank International intends to focus on the retail segment amid toughening competition in the corporate sector, RBI CEO Karl Sevelda told Wirtschaftsblatt, Reuters reported.
Russia is an important market for the company… The bank will wait and see how the situation will unfold. The bank will continue to operate (in Russia — editorial note), but will shift its business focus to the retail sector, Sevelda said in an interview that was published on Tuesday.
While commenting on the EU’s readiness to introduce new sanctions against Russia, Sevelda called for balanced decisions, noting the restrictive measures would hurt not only Russia, but also Ukraine and the EU. He added that ethical and moral standards should not be sacrificed in favor of business.
