Orban’s son-in-law considers buying Raiffeisen's Russian arm amid controversial talks
In a potential shake-up in the banking world, Hungarian millionaire Istvan Tiborcz might be setting his sights on acquiring the Russian division of Austrian banking group Raiffeisen Bank International AG (RBI), reports the Austrian newspaper Der Standard, citing unnamed sources.
While Der Standard refers to the rumors as "wild whispers from banking circles," they acknowledge the presence of "serious negotiations" between RBI and Tiborcz. Representatives from the Russian Central Bank and the presidential administration are reportedly involved in these discussions. According to Der Standard, Moscow itself proposed Tiborcz as a potential buyer.
The matter has allegedly been brought before the RBI's supervisory board in Vienna, chaired by Erwin Hameseder, head of the investment holding Raiffeisen-Holding Niederösterreich Wien. Some RBI executives have reportedly expressed opposition to the deal.
Der Standard indicates that Hungary's largest bank, OTP Bank, could financially participate in the potential deal, sharing RBI's continued operations in Russia.
Upon inquiry, RBI neither confirmed nor denied the information, only noting that "due to a Russian court decision on September 5, 2024, RBI cannot currently transfer its shares in AO 'Raiffeisenbank.'" Both Tiborcz and OTP Bank have denied interest in acquiring 'Raiffeisenbank.'
Istvan Tiborcz, 38, ranks among Hungary's wealthiest individuals. He is listed by Hungarian Forbes with a net worth of 151.5 billion forints (approximately 370 million euros). The businessman has been connected to Hungary's political elite since 2013 when he married Rahel Orban, the eldest daughter of the country's Prime Minister, Viktor Orban, who has five children in total.