Raiffeisen Bank International (RBI) increased its net profit in Russia by 8.2% year-on-year to €326mn in 1Q24, with the share of Russian business in the profit of the whole group being as high as 45%, Kommersant daily reports citing the group’s financial statements. RBI’s return on equity (ROE) in Russia in 1Q24 was 29.1%, which is higher than that of Russia’s two largest state-controlled banks Sberbank and VTB (24.2% and 22.1% respectively). The bank’s profit grew despite a 21.9% decline in assets in Russia, to €21.1bn, and a 28.2% decline in the loan portfolio to €5.8bn. RBI is under heavy r…