Austria: “Painful Cuts“ at RBI

People ♦ Published: August 22, 2013; 18:16 ♦ (Vindobona)

According to the most recent results, the bank has losses in profits of more then 60 percent. A strict cost reduction program

Austria: “Painful Cuts“ at RBI / Picture: © Raiffeisen Bank International AG / Press Photo

Listed Raiffeisen Bank International (RBI) has planned a drastic cost reduction program which should be pursued for three years. On September 18, the supervisory board will negotiate the results of an employed task force and present them at the end of September or the beginning of October. The board of directors plans on saving a “significant” amount of money. However, it is not yet…