Austerity Program at RBI

People ♦ Published: July 20, 2012; 19:34 ♦ (Vindobona)

Raiffeisen Bank International´s CEO Herbert Stepic is against a capital increase. The market conditions would be unfavorable.

Austerity Program at RBI / Picture: © Raiffeisen Bank International AG / S. Klimpt

RBI currently plans an austerity program. Branches will be shut down, even jobs should be cut. At the end of June, RBI had to reach a 9.0% capital quota. Stepic asserts not to be surprised that the capital requirement is permanent.

In an interview with „Wirtschaftsblatt“, Stepic views the capital requirements by the Austrian Central Bank critically. Two weeks ago, OeNB…

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RBI Raiffeisen Bank International, Russia, Banking Industry, EBA European Banking Authority, ECB European Central Bank, Herbert Stepic, Equity Markets, Capital Increase, Taxation, Bank Taxes
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