Core member of the Raiffeisen Banking Group (RBG) and its solid institutional protection scheme Strong competitive positions in Austria, Central and Eastern Europe (CEE), Southeastern Europe (SEE), and Russia in retail and commercial banking operations Above-average funding profile and strong liquidity, owing to the group's strong retail deposit franchise in each of its main local markets Materially weakened operating conditions amid the coronavirus pandemic, and vulnerability to developments in Russia, CEE, and SEE 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 low efficiency of domestic operations The negative outlook on Raiffeisen Bank International AG (RBI) reflects S&P
