The scores above relate to the group credit profile of Raiffeisen Banking Group. Group credit profile based on solidarity support and the sector's domestic joint liability scheme. Strong presence in Austria, Central and Eastern Europe (CEE), and Southeastern Europe (SEE) in retail and commercial banking operations. Above-average funding profile, owing to the group's strong retail deposit franchise. Because of its complex group structure, in our view, Raiffeisen Banking Group is slower to adapt to the changed operating environment than its main peers. Tight margins in highly competitive business in Austria and low efficiency of operations. Vulnerability to economic and political developments in Russia, CEE, and SEE. S&P Global Ratings' outlook on Raiffeisen Bank International AG (RBI) is positive. It reflects
