Austria’s Raiffeisen Bank International (RBI) is considering Central Asia as a new growth market and is exploring potential acquisitions in the region, Bloomberg reported, citing people familiar with the bank’s plans. Kazakhstan and other Central Asian countries could be identified as new growth regions as the bank updates its strategy.
RBI CEO Michael Höllerer is expected to present the updated strategy in the coming weeks. According to sources familiar with the matter, the plans have not yet been officially announced, and the bank is not currently in talks with specific potential acquisition targets.
“Western companies are restructuring their supply chains, while Central Asian countries are increasingly looking toward the West. As part of our strategic process, we will examine how we can respond to these changes”, a Raiffeisen representative said in response to a Bloomberg inquiry.
Raiffeisen’s potential expansion into Central Asia could be supported by a €3.15 billion ($3.6 billion) payment. The payment resulted from a default judgment by an Austrian court, under which assets are being transferred to Raiffeisen from Rasperia Trading, a company previously linked to businessman Oleg Deripaska.
In December 2025, Raiffeisen Bank joined a capital market regulatory sandbox in Uzbekistan. The National Agency of Prospective Projects said the bank would act as a foreign nominee holder for settlements involving Uzbek securities.
In April, it was reported that Raiffeisen Bank planned to become a custodian bank in Uzbekistan. The Austrian group planned to participate in trading on the Tashkent Stock Exchange through local brokers. At the time, Raiffeisen Bank opened accounts with the Central Bank and the Central Securities Depository.
In June, Raiffeisen expanded investors' access to Uzbek securities, including government bonds. In Kazakhstan, the bank also operates through a small leasing business.
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