Raiffeisenbank, the Austrian banking group Raiffeisen Bank International’s subsidiary, held a notable position in the February data cycle as one of the top ten banks attracting deposits. The bank’s deposit inflows were highlighted in communications published on the press portal of the Bank of Russia, underscoring its continued visibility in the Russian financial landscape during that period.
Earlier updates indicated a reshuffling of the regulator rankings. In January 2023, Raiffeisenbank fell out of the top ten regulators list, a shift that followed the inclusion of large institutions such as Gazprombank, Rosselkhozbank, and Otkritie. This development occurred amid broader market movements and competitive dynamics within Russia’s banking sector, where Raiffeisenbank had previously been noted for its relative strength against some domestic peers, including Moscow Credit Bank.
According to data from the Central Bank of Russia, the average maximum rate on deposits among the ten largest banks declined year over year in late February. The rate dropped to 7.68 percent in the third decade of February, compared with 7.93 percent in the second decade of February, reflecting a broader trend in deposit pricing across the system during that period.
On March 3, Raiffeisenbank informed the market via its press service that it would temporarily pause opening new accounts for legal entities. This step was communicated as a temporary measure in response to evolving regulatory and market conditions, with the bank indicating its intent to reassess the situation and resume onboarding when feasible.
Additionally, in the second half of February, reports indicated Raiffeisenbank’s decision to substantially increase the minimum amount required for outgoing online transfers in foreign currency starting March 6, 2023. Beginning on that date, customers would be unable to initiate transfers of less than $10,000 through the Raiffeisen-Online mobile application, a policy change that affected corporate clients and individuals engaging in high-value international payments. This adjustment was described as a systemic change designed to align transfer practices with updated risk management and regulatory expectations, while also clarifying limits that influence liquidity planning and cross-border operational workflows for users of the platform.
Across these developments, Raiffeisenbank’s activities reflect a broader pattern observed in the regional banking sector: institutions continuously adapt to regulatory updates, shifts in deposit pricing, and the evolving needs of corporate and retail clients. Stakeholders monitoring the market would note that the bank remains part of a larger international network, yet must navigate the particular regulatory and competitive environment of Russia’s financial system. This dynamic context shapes how Raiffeisenbank positions its products, communicates policy changes, and serves its customer base during periods of change in pricing, onboarding practices, and cross-border transaction rules.