Raiffeisen pullout of Ukraine unthinkable despite defaults

Raiffeisen International CEO Walter Rothensteiner said yesterday that even though he expects defaults on loans in Ukraine to reach as much as 10%, a pull out of markets like Ukraine or Romania is unthinkiable, Reuters reported. Rothensteiner said that out of EUR 5.0 bln invested in Ukraine, he expects to get back EUR 4.5 bln. Raiffeisen International is the majority owner of Raiffeisen Bank Aval (BAVL). Mykyta Mykhaylychenko: This news, most likely, has been already taken into account by the market as a few days earlier Raiffeisen International already expressed its intention to increase Raiffeisen Bank Aval’s charter fund by 22%.