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Higher Cost Pressure for Austrian Banking Industry

Published: October 31, 2013; 07:07 · (Vindobona)

Due to national and international regulations, Austrian banks have to bear higher costs than their foreign competitors.

Higher Cost Pressure for Austrian Banking Industry / Picture: © Vindobona.org

In total, additional costs for the Austrian banking sector comes at € 6.7bn, the Austrian Chamber of Economics (WKO) said. WKO refers to a study carried out by the business advisor Oliver Wyman. Besides European regulations, there are a number of further legal requirements on the national level, WKO explains. Thus, the higher costs are mainly due to national regulations, the bank tax…

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Higher Cost Pressure for Austrian Banking Industry

Due to national and international regulations, Austrian banks have to bear higher costs than their foreign competitors.

Join us to succeed in Vienna!
Sign up to read articles for free and to get personalized updates on the events that interest you.