a strong ruble has become a “headache” for Western banks

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    The sharp strengthening of the ruble against the euro has become a “headache” for Western banks. Leaving Russia, they suffer huge losses. Bloomberg writes about it.

    The term “headache”, speaking about the ruble, was used in an interview with the agency by the executive director of the Austrian Raiffeisen Bank, Johann Strobl. He noted that against the backdrop of the strengthening of the Russian currency, the profit of a financial organization is growing, but those who decide to withdraw their business from Russia cannot boast of this.

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    Thus, the French credit bank Societe Generale SA recorded pre-tax losses of 3.3 billion euros in the second quarter of this year.

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