Raiffeisen Bank Shares Drop After US Treasury Request for Information
February 20 2023 - 3:56AM
Dow Jones News
By Adria Calatayud
Shares in Raiffeisen Bank International AG dropped in early
trade Monday after it disclosed that it had received a request for
information from the Office of Foreign Assets Control, the U.S.
Treasury Department unit that enforces sanctions, last month.
At 0819 GMT, shares in the Austrian bank were down 6.9% at 15.32
euros ($16.39).
"The questions raised by OFAC are of general nature seeking to
clarify payments business and related processes maintained by RBI
in light of the recent developments related to Russia and Ukraine,"
Raiffeisen said in a statement late Friday.
The bank said the information request wasn't triggered by any
specific transaction or business activity and that it is
cooperating fully with OFAC.
Raiffeisen said it maintains policies and procedures to ensure
compliance with embargoes and sanctions and that it has been in
regular exchange with the U.S. Treasury for years.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
February 20, 2023 03:41 ET (08:41 GMT)
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