Austrian Banks Cut Exposure in Spain

Businessn.a. ♦ Published: June 11, 2012; 15:25 ♦ (Vindobona)

Erste Group, Raiffeisen Bank International (RBI) and KA Finanz have the highest exposure among Austrian banks.

Austrian Banks Cut Exposure in Spain / Picture: ©

As most European banks, Austrian banks reduced their exposure in Spain. According the BIS (Bank of International Settlements), the exposure held by Austrian banks totaled € 3.5bn at the beginning of 2012. Two years ago, the exposure stood at € 7.0bn. Also in the last few months, loans and bonds were reduced by several hundred million euros. German banks are much more engaged in…