Nowotny: „Austrian Banking Activities in CEE Better than their Reputation”

People ♦ Published: March 1, 2012; 17:10 ♦ (Vindobona)

According to the governor of the Austrian Central Bank (OeNB), Ewald Nowotny, Austrian banks engaged in Central and Eastern Europe are more stable than they are supposed to be.

Nowotny: „Austrian Banking Activities in CEE Better than their Reputation” / Picture: © Agenda Austria 2020

For Nowotny, the reputation of domestic banks which are operating in Central and Eastern Europe is not justified. The governor explains that stability is significantly higher than it is expected, because Austrian banks are engaged rather in the lending business than in the investment banking business. In discussions, only the Tier-1 equity capital quota would be analyzed. However, this…