Benefits from institutional protection scheme as a member of the Raiffeisen Banking Group (RBG or the group). Strong presence in Austria, Central and Eastern Europe (CEE), Southeastern Europe (SEE), and Russia in retail and commercial banking operations. Above-average funding profile, owing to the group's strong retail deposit franchise. RBG's slower pace to adapt to changes in the operating environment than its main peers because of the complex group structure. Tight margins in a highly competitive business in Austria and relatively low efficiency of domestic operations. Vulnerability to economic and political developments in foreign operations. S&P Global Ratings' outlook on Raiffeisen Bank International AG (RBI) is positive. We continue to derive the ratings on RBI from our view that the bank
