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Austria: Raiffeisen Group Takes Over VBAG Loans

Published: August 28, 2013; 12:02 · (Vindobona)

Loans worth more then € 748m will be taken over by Raiffeisen Group

Austria: Raiffeisen Group Takes Over VBAG Loans / Picture: © Volksbank AG

Austrian Raiffeisen Centrobank (RZB) announced to take over further credits of crisis-struck VBAG. Two credit packages of VBAG will be in Raiffeisen’s books from the third quarter on. For the saving of the banking institute, RZB, as original shareholder, had to take over asses of around € 1bn in order to relieve VBAG’s equity capital. According to RZB’s half-year report, two…

This article includes a total of 108 words.

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