Raiffeisen Bank reported a $1.05 billion profit in the first six months of 2023, despite Western sanctions.

Raiffeisen Bank International's Russian subsidiary Raiffeisen Bank International posted a profit of 83.9 billion rubles ($1.05 billion) in the first half of the year, up 17.8% year-on-year. This performance was due to the management of international transfers and high interest on deposits amid sanctions affecting Russian banks. Raiffeisen Bank, the biggest Western lender in Russia, is facing pressure from the US and the EU to withdraw from the country.