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Raiffeisen CEO Stepic: The Crisis in Eastern Europe is Not Over Yet
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Published: October 22, 2010; 12:00 ♦ (Vindobona)
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The RBI boss explains why recovery is taking longer, why his institute does not want to pay back the state capital yet, and why he considers that Raiffeisen is being treated unfairly.
Raiffeisen CEO Stepic: The Crisis in Eastern Europe is Not Over Yet / Picture: © Raiffeisen Bank International AG / S. Klimpt
The CEO of Raiffeisen International Bank (RBI), Herbert Stepic considers that the quantity of bad loans in Eastern Europe will only start to decline again in the spring of 2011. According to him, the crisis is far from over. RBI is still experiencing an increase in bad loans as before. "As long as these bad loans continue to increase, the crisis in Eastern Europe and also worldwide will…
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