News in numbers EU exposed to Russia
Harmonised index of consumer prices (HICP) infl ation rate of the EU (March 2022)
As of March 2022, the infl ation rate in the EU was 7.8%, with prices rising fastest in Lithuania, which had an infl ation rate of 15.6%. By contrast, the infl ation rate in Malta was 4.5% – the lowest in the bloc. The current rate of infl ation in the EU is higher than at any other time, with the peak prior to 2021 recorded in July 2008, when prices were growing by 4.4%.
Finland 5.8%
Estonia 14.8% Sweden 6.3% Denmark 6% Ireland 6.9% Germany 7.6% Netherlands 11.7% Belgium 9.3% Czechia 11.9% Luxembourg 7.9% France 5.1% Slovakia 9.6%
Austria 6.7% Hungary 8.6% Romania 9.6% Slovenia 6%
Croatia 7.4% Portugal 5.5% Spain 9.8% Greece 8% Cyprus 6.2%
Exposure of European banks to Russia. Italian and French institutions are the most exposed
The Milanese giant has a €1.9bn direct exposure to Russia, where it has operated since 2005.
Russia contributed nearly a third of Raiffeisen’s net profi ts in 2021, where the bank employs 9,000 people.
Malta 4.5% Italy 6.8% Bulgaria 10.5% Poland 10.2% Latvia 11.5% Lithuania 15.6%
14+% 10-14% 7.5-10% 4.5-7.5%
Societe Generale had €18.6bn exposure to Russia by the end of 2021, representing 1.7% of the group’s total.
Despite holding over €376m in equity across Russia and Ukraine, the French giant remained bullish about 2021 dividends.
The Parisian bank is sticking to 2025 fi nance targets, a €3bn exposure to Russia and Ukraine notwithstanding.
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Italy’s biggest bank has exposure of €5.1bn worth of loans in Russia and Ukraine.
About €700m of Dutch international banking giant ING’s Russian loans are affected by Western sanctions.
Switzerland’s biggest bank says its direct exposure to Russia accounted for $634m at the end of 2021.
Future Banking /
www.nsbanking.com
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