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Austerity Program at RBI
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Published: July 20, 2012; 19:34 ♦ (Vindobona)
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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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