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Austria: RBI to Pay Back State Capital in March
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Published: February 13, 2014; 16:08 ♦ (Vindobona)
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€ 1.75bn in state aid will be transferred around March 15 if the Financial Market Authority agrees to the repayment.
Austria: RBI to Pay Back State Capital in March / Picture: © Raiffeisen Bank International AG / Press Photo
Seven months after Erste Group paid back € 1.22bn in participation capital granted by the Austrian state in 2009, Karl Sevelda, CEO of Raiffeisen Bank International (RBI), announced plans of paying back state aid in the amount of € 1.75bn.
The Finance Ministry welcomed this step in the light of urgent capital need due to the winding up of problem bank Hypo Group. Both CEO and…
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