Austrian reports link Orbán’s son-in-law to Raiffeisen’s Russian subsidiary sale

Austrian newspaper Der Standard has once again reported that Hungarian businessman István Tiborcz, Prime Minister Viktor Orbán’s son-in-law, may be a key contender to acquire a majority stake in Raiffeisen Bank International’s Russian subsidiary. While the bank has been seeking a buyer since the outbreak of the Russia–Ukraine war, the claims remain unconfirmed, and Tiborcz’s company firmly denies them.

Der Standard: Tiborcz-backed group interested in 60% stake

According to Der Standard, a Tiborcz-linked team is reportedly looking to purchase 60% of Raiffeisen’s Russian arm, with the remaining minority share staying under the Austrian group’s ownership. Unnamed sources cited by the paper suggest that certain Russian stakeholders would support such a deal. However, any sale would require simultaneous approval from both Russian and Western authorities — a complex and politically sensitive process.

The Austrian outlet also claims that the potential transaction was brought up during Orbán Viktor’s recent meeting with Donald Trump in the United States. Their sources say Orbán raised the topic, to which Trump responded that “they will look into it.”

Telex: Raiffeisen acknowledges a buyer exists, but not who it is

Hungarian outlet Telex, citing its own unnamed source, reports that Raiffeisen internally considers it a fact that a potential buyer is in negotiations for a 60% stake. However, the source did not confirm Tiborcz’s involvement.

Raiffeisen declined to comment on any potential buyers, while emphasising that it has not yet found a candidate approved by all required regulators. The group announced its intention to exit Russia shortly after the war began, but the sale process has repeatedly stalled.

• Check out our February report on Tiborcz’s intent to take over Russian Raiffeisen with Putin’s help

Russian backers reportedly support a Hungarian bid

Der Standard also mentions Russian figures allegedly willing to back Tiborcz’s acquisition attempt. These include individuals close to the Russian central bank, as well as pharmaceutical tycoon Alexey Repik, a businessman with ties to President Vladimir Putin. According to the report, they would help secure the majority stake for the Hungarian group.

The newspaper further claims that a second consortium (a mixed Russian–Western group not affected by sanctions) has appeared as a possible buyer for a minority share of around 30%.

BDPST Group denies the rumours

Tiborcz’s company, BDPST Group, has once again rejected the claims. In a statement cited by Portfolio, the firm said:

“Neither István Tiborcz nor the BDPST Group intends to acquire Raiffeisen Bank’s Russian subsidiary.”

The company gave the same response when contacted by Hungarian media.

Raiffeisen shares remain stable

Despite the uncertainty surrounding the sale, Raiffeisen’s share price edged up by 0.1% on the Vienna Stock Exchange, and the bank remains 63% up since the start of the year, according to Portfolio.