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…

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