Article Tools

Raiffeisen Bank International: Sale of Hungarian Affiliate No Taboo Anymore

Published: November 20, 2013; 07:21 · (Vindobona)

As reported by Vindobona, Vienna-listed RBI is examining offers for the Hungarian subsidiary. For RBI, Hungary is the biggest loss-maker.

Raiffeisen Bank International: Sale of Hungarian Affiliate No Taboo Anymore / Picture: © Flickr

In 1989, even before the fall of the Iron Curtain, RBI was the first Western bank which entered the CESEE region. RBI´s first milestone was the expansion into Hungary. Now, RBI may be forced to withdraw from the first foreign market. Despite all strategic and historic considerations, a sale of the Hungarian affiliate is no taboo anymore.

CEO Karl Sevelda explained that the frame…

This article includes a total of 534 words.

or Log In