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Higher Cost Pressure for Austrian Banking Industry
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Due to national and international regulations, Austrian banks have to bear higher costs than their foreign competitors.

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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