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Austria’s Raiffeisen Bank replaces ‘misleading’ Russia job ads

Austria's Raiffeisen Bank said on Tuesday that it was replacing job ads that contained 'misleading wording' implying the bank was expanding its operations in Russia.

Published: 17 April 2024 14:52 CEST
Austria's Raiffeisen Bank replaces 'misleading' Russia job ads
The headquarters of Raiffeisen Bank International (RBI) are seen in Vienna. (Photo by ALEXANDER KLEIN / AFP)

The bank has vowed to reduce its business in Russia following Moscow’s invasion of Ukraine in 2022 but has so far not sold or spun off its Russian unit.

The Financial Times on Tuesday said it had found dozens of postings for Russia-based jobs, touting its growth plans in the country.

One of the job postings said the bank was “looking for a client manager who will attract clients,” the paper reported.

“The quotes from the job advertisements do not reflect the measures taken by Raiffeisen Bank International to date to reduce its Russian business, nor do they correspond to the further plans for the Russian business,” the bank said in a statement sent to AFP.

It added to be able to sell Raiffeisenbank Russia — the biggest Western bank still in Russia — “job positions that are necessary for functioning banking operations will continue to be filled or refilled”, but they are “not related to business growth”.

“The very few job ads which contained old and misleading wording are/will be replaced.” the bank said.

Raiffeisen Bank International said in its annual report for 2023 that it had made 2.4 billion euros ($.2.6 billion) in net profits. It paid 464 million euros in income tax in Russia.

The group announced in December an agreement with Austrian construction company Strabag, involving Russian oligarch Oleg Deripaska, who is under Western sanctions.

The deal to try to recover assets frozen in Russia before selling or spinning off Raiffeisenbank Russia has drawn the US authorities’ scrutiny.

A senior US Treasury official — in Austria in March to discuss sanctions against Russia — met Raffeisen Bank International officials in Vienna to discuss the bank’s business in Russia.

Last year, a Czech rights group filed a criminal complaint against the bank’s Czech and Austrian units, claiming the bank is financing terrorism with its activities in Russia.

Raiffeisenbank has been in Russia since 1996 and employs more than 9,000 people there.

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POLITICS

‘Glass half full’: Who is Austria’s Beer Party candidate for chancellor?

Austria's controversial but increasingly popular Beer Party announced it would run in the upcoming National Council elections, with party leader and former rock star Dominik Wlazny seeking the chancellery.

Published: 30 April 2024 16:38 CEST
'Glass half full': Who is Austria's Beer Party candidate for chancellor?

With his distinctive long dark hair and rebellious torn jeans, punk rock singer Dominik Wlazny of Austria’s Beer Party has emerged as an intriguing candidate for the country’s next chancellor, just as he did when he ran for president—and surprisingly did better than expected.

Yet, Wlazny announced this Tuesday that the Beer Party will definitely be running in the national elections and seeks to reach a self-imposed funding target of  €1.2 million. “Our glass is more than half full, and there is massive support,” he said at a short press conference.

Wlazny, who joked that his announcement would probably cause “gasps” at the other parties’ headquarters, did not answer any questions after his statement but announced another press conference next week with more details. 

READ ALSO: How do Austrians elect their chancellor?

In almost all of the most recently published polls, the Beer Party would overcome the four percent hurdle, meaning Wlazny may not be the country’s next chancellor. Still, the protest party might grab seats in Austria’s National Council. The left-of-centre movement is likely to attract protest voters in particular and could be an unpleasant opponent for the SPÖ, Greens and KPÖ.

Wlazny’s previous electoral performance provides some insight into the Beer Party’s potential in the upcoming elections. In the 2022 presidential elections, the medical graduate, long known primarily as band leader Marco Pogo, came third with 8.3 percent of the vote and even came second in Vienna.

Who’s behind the beer party?

The Beer Party, a satirical political movement, was founded in 2015 by Austrian comedian, doctor, brewer, and musician Dominik Wlazny, known by his stage name Marco Pogo. The party was a response to perceived corruption and a lack of transparency in Austrian politic, aiming to bring a fresh and unconventional approach to governance.

Wlazny studied medicine in Vienna and worked as a general doctor in a hospital before quitting in 2014 to focus on music.

Wlazny said that he was inspired by one of the songs played by the punk band he was a part of, which included the lyrics: ‘If you like to be fat and drink a lot every day, then vote for us now, the Beer Party, and we’ll abolish the alcohol tax.”

More serious proposals have slowly replaced the controversial party policies. When he ran for president, Wlazny said he would vet candidates proposed as ministers, making them go through a hiring process like in a company, to seek to avoid political chaos due to unfit leaders.

Currently, the president usually doesn’t reject the government’s choices.

“I often have the feeling that it’s harder to get an apprenticeship in Austria than a ministerial post,” Wlazny said at the time.

Wlazny also said that, as president, he would want to push for establishing a so-called “Future Ministry” to check the impact of policy decisions on security, the environment, health, and other sectors.

He said measures should have been taken decades ago to avoid the country’s dependence on fossil fuels, which hurts it now amid the ripple effects of Russia’s invasion of Ukraine.

READ ALSO: Why is support for Austria’s far-right FPÖ rising?

But what are the party’s program points?

There have been none so far. The Beer Party hasn’t made its National Council election promises public and hasn’t announced a party list, at least not yet.

Austrian political commentator Thomas Hofer told the newspaper Kurier that the strategy is clever: “As long as he doesn’t have a detailed program, Wlazny remains less vulnerable in terms of content—even if this is, of course, problematic in terms of democratic politics.” 

There is also very little information on the party’s website. One page, called “menu,” holds some of the party’s general and superficial proposals, such as “active fight against child and family poverty,” “transparent and comprehensible rental price regulation,” “educational equality for all,” “expansion of the public transport network,” and more.

The party also claims women should have the “right to make decisions about their own body” and that small and medium enterprises are the “backbone of the economy” and a focus for the politicians. 

Additionally, they advocate for “appropriate doctor/patient care ratio”, “environmentally friendly, sustainable energy policy for a climate-neutral Austria”, and “promotion of research and development”, among others. 

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