Bloomberg writes that the strengthening of the ruble against the euro has become a “headache” for Western banks.
The publication reports that foreign companies that left Russia are experiencing huge losses.
The chief executive of the Austrian Raiffeisen Bank, Johann Strobl, told the publication how, against the background of the strengthening of the ruble, his bank’s profit is growing, but for those who decided to liquidate their business in Russia, the strong Russian currency has become a “headache”.
According to the publication, companies that decided to immediately leave Russia after the start of a special military operation in Ukraine suffered serious losses. In particular, the French credit bank Societe Generale SA confirmed that in the second quarter its pre-tax losses due to withdrawal amounted to 3.3 billion euros.
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