Among banks which have pared back in Ukraine since 2008 are Germany's Commerzbank, which sold its Bank Forum unit in 2012; Austria's Erste Group Bank, which sold its loss-making unit in 2012; and Swedish bank Swedbank, which sold its subsidiary last year. Italy's Intesa Sanpaolo said in January it would sell its Ukrainian unit Pravex-Bank to a unit of Ukraine-based Group DF. Foreign banks in Ukraine have been shrinking their balance sheets, said Timothy Ash, analyst at Standard Bank. "The only guys that are expanding in Ukraine are Russian banks and even their future in Ukraine must be in doubt." Emerging Europe's second-biggest lender Raiffeisen Bank International has been considering offers for its Ukraine operations. "There are two or three offers that really look closely into the data and have due diligence," a Raiffeisen spokeswoman said.