Austria: Non Performing Loans on the Rise

People ♦ Published: January 29, 2013; 19:53 ♦ (Vindobona)

According to RBI´s (Raiffeisen Bank International) CEO Herbert Stepic, the NPL quota has risen in Austria last year.

Austria: Non Performing Loans on the Rise / Picture: © Flickr / St. Petersburg International Economic Forum

For the first time since 2009, the NPL quota was up, Stepic said in an interview with the Austrian daily newspaper “Wirtschaftsblatt”. This is a consequence of the long-lasting economic crisis, he said. “At the end of such a crisis, also big companies concerned. These companies could keep up for a while. But finally, their reserves are used up. Then, we have to record high…