Consolidation in CESEE Banking Industry Ahead

Businessn.a. ♦ Published: July 13, 2012; 19:36 ♦ (Vindobona)

The Austrian Central Bank (OeNB) expects a wave of takeovers in the banking industry in Central, Eastern and Southeastern Europe. Many banking groups will withdraw from there, OeNB says.

Consolidation in CESEE Banking Industry Ahead / Picture: © Vindobona.org

In the next years, a strong consolidation wave in the CESEE region is expected. Many banks from Western Europe are expected to withdraw from this region, OeNB says. In order to receive bank aids, the banks must downsize their operations. These are requirements by the EU, OeNB explains. Ewald Nowotny, governor of OeNB: „We will have a concentration process in CESEE.“

Nowotny…