FX.co ★ Raiffeisen Chief quits after check of offshore deals

According to Bloomberg, Raiffeisen Bank International Chief Executive Herbert Stepic resigned for personal reasons. It was noted that the Stepic’s resignation would be considered immediately. Until the RBI's supervisory board accepts the decision, Stepic continues to fulfil duties as a CEO.
On May 23, in an interview with Vienna’s News, Stepic said he had a bank account at UBS to invest in Singapore real estate. After the interview, Austria's central bank promised to check if he had violated the law. Stepic rejects wrongdoing, Reuters states.
Earlier Stepic's real estate deals were subject of the regulators’ inspection. This week, Austria's FMA has finished to check RBI chief's transactions in Serbia, Bloomberg notes. The FMA has not announced any violations.
Raiffeisen Bank International operates in 17 countries of Central and Eastern Europe. In Russia, Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. It is in the top 30 Russia's largest financial institutions.