Austria's Raiffeisen Bank International said on Tuesday it reduced its loan volume by 30% in Russia at the end of last year, as it sought to pare back its business in the country in response to unrelenting regulatory pressure.

Bloomberg reported, citing official documents, that the Austrian Raiffeisen Bank International AG (RBI) allegedly benefited from business dealings that supported the Russian war industry, which is crucial for conducting military activities in Ukraine.

Austria's Raiffeisen Bank International AG is making money from companies that supply products to Putin's army. Source: Bloomberg Details: Last year, Raiffeisen's Russian unit received more than RUB 62 million (approx.

Austria's Raiffeisen Bank International said on Tuesday it reduced its loan volume in Russia to 4.2 billion euros ($4.32 billion) at the end of last year, as it sought to pare back its business in the country in response to unrelenting regulatory pressure.

Austrian Raiffeisen Bank International AG (RBI) has come under scrutiny after Bloomberg revealed that it benefited from activities supporting the Russian war industry in Ukraine. The company reportedly gained approximately CAD 830,