Top ECB official piles pressure on Euro-zone banks to leave Russia

📆 6/15/2023 1:54 PM
📰 BusinessInsider

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The EU is losing patience with European banks still making money in Russia. A top official is now pressuring them to exit the market 'as soon as they can.'

The European Union is losing patience with the bloc's banks still operating in Russia — and one top European Central Bank official is publicly putting pressure on lenders to exit the country.

. In particular, Austria's Raiffeisen Bank almost quadrupled its net profit to 141 billion rubles, per the independent Russian news outlet.citing three people familiar with the matter.More than a year after Russia invaded Ukraine, a mere 526 companies have made a clean break with the country, from Yale University. That's despite 1,000 companies announcing they were voluntarily cutting back on operations merely two months after the Ukraine war started.

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