Capital Increase for Raiffeisen Hungary

Professional Services › Banks ♦ Published: December 23, 2011; 12:50 ♦ (Vindobona)

In light of massive loss expectations the Hungarian subsidiary will reduce its headcount and close down several branches.

Capital Increase for Raiffeisen Hungary / Picture: © Raiffeisen Bank International AG / S. Klimpt

The Hungarian subsidiary of Raiffeisen Bank International (RBI) will raise its capital by € 350m. This was decided by the board of Raiffeisen Bank Zrt. Hungarian media reports in this regard were confirmed by RBI-spokesman Michael Palzer today.

As announced by RBI’s CEO Herbert Stepic at the end of November, the Hungarian subsidiary expects a loss of € 320m for the full…

or Log In

Fast News Search
Related News
Fitch Calls for Higher Capitalization of VBAG, Raiffeisen, Erste (December 21, 2011)
Rumors Say Raiffeisen Looking for New Investors (December 19, 2011)
Foreign Currency Loans: Austrian Banks Appreciate Hungarian Decision (December 19, 2011)
Reduced, But Still High Shortfall at Austrian Banks (December 8, 2011)
RBI Posts Decline in Nine-Month Profit (November 24, 2011)
Austrian Minister of Economics Criticizes Hungary (November 21, 2011)
Read More
RBI Raiffeisen Bank International, Banking Industry, Hungary, Herbert Stepic, Capital Increase
Featured
See latest Vindobona Newsletter