Bank Austria: “Russia is Still Profitable”

People ♦ Published: May 2, 2014; 16:46 ♦ (Vindobona)

According to Vice CEO of Bank Austria and head of business operations in CEE Gianni Franco Papa, business in Russia is not yet affected by the political crisis in Crimea.

Business for Bank Austria in Russia is still "going well". / Picture: © Uni Credit Group Bank Austria

“The Russian affiliate is one of our biggest local banks and very profitable,” Papa highlighed in an interview with Austrian business magazine “Format”. Still, the politcal crisis between Russian and Ukraine is under close observation by the Austrian affiliate of Italian UniCredit.

However, Papa, head of the CEE operations of Central and Eastern Europe (CEE), has…