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Raiffeisen in talks with EBRD on Ukraine accord-CEO in paper

Reuters - UK Focus

VIENNA, March 18 (Reuters) - Raiffeisen Bank International (Xetra: A0D9SU - news) is in talks with the European Bank for Reconstruction and Development (EBRD) about co-investing in Ukraine, Chief Executive Karl Sevelda told German newspaper Handelsblatt.

He was not more specific about what the collaboration might entail. An RBI spokesman declined comment on whether it could involve selling a stake in the business to the EBRD, as rival Erste Group did in Hungary on Feb. 9.

Asked if RBI would be still be in Ukraine in five years, Sevelda was quoted as saying: "We are considering various options. We could imagine close cooperation with the EBRD."

Sevelda said it was no secret that Vienna-based RBI wanted to sell its business in Ukraine, where the government is fighting pro-Russia separatists. Ukraine's economic crisis and currency rout helped push RBI to its first-ever loss in 2014.

"We were in promising negotiations, but who is going to buy a bank in Ukraine these days?" (Reporting by Michael Shields, editing by Louise Heavens)