VIENNA: Raiffeisen Bank International's (RBI) business is doing well apart from in Ukraine and Hungary, its finance chief said on Thursday, reiterating it expected to make a profit in 2015 after a loss this year.
Emerging Europe's number two lender said last month it could lose as much as 500 million euros ($638.8 million) this year because of problems in Ukraine and Hungary.
"We're still earning good money in many countries, we only have two countries that cause us concern," said Chief Financial Officer Martin Gruell at an investment conference in Vienna, referring to Ukraine and Hungary.
He said sanctions on Russia were having an impact on RBI only in single-digit million euros so far.
RBI has said the conflict in Ukraine and Hungary's campaign to make banks cough up money for mispriced loans were unusual items and that it would make a "mid-triple-digit million euro" profit next year. Gruell reiterated comments from Chief Executive Karl Sevelda this month that RBI was unlikely to pay a dividend on 2014 results should it report a full-year loss. Gruell could not say how large the loss may be.
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