Russian ruling on Strabag forces RBI subsidiary to make provisions

Vienna/Kaliningrad – A ruling by a Russian court that Strabag shareholders should pay 2 billion euros is forcing the Russian RBI subsidiary to make large provisions. AO Raiffeisenbank will book a provision for the fourth quarter in accordance with international accounting rules and the Russian accounting standard, Raiffeisen Bank International (RBI) said in a statement on Monday evening and announced that it would appeal the ruling in Kaliningrad.