Austria’s Raiffeisen Bank said Tuesday that it will continue to scale back its Russian business as it navigates a “very difficult” exit from the country, where it generated half of its post-tax profit in 2024 so far. In its semi-annual earnings report, Raiffeisen Bank International said its Russian division posted 705 million euros ($763.6 million) of the global unit’s consolidated profit of 1.32 billion euros ($1.4 billion) in January-June. RBI Groupannounced plans last year to sell or “spin off” its Russian subsidiary amid pressure from the European Central Bank and the U.S. Treasury Departm…