Raiffeisen Sector: Austerity Cuts Ahead

Professional Services › Banks ♦ Published: September 26, 2013; 18:17 ♦ (Vindobona)

RZB (Raiffeisen Zentralbank), the majority shareholder of Vienna-listed RBI (Raiffeisen Bank International) plans to reduce its costs substantially.

Raiffeisen Sector: Austerity Cuts Ahead / Picture: © Raiffeisen Bank International

Until 2017, RZB´s management plans to pursue a strict austerity policy. In total, the planned cost reduction comes at € 75m. The workforce should be reduced by 10%. According to board member Johannes Schuster, more than 120 jobs will be cut.

Schuster: “What currently happens at RBI, also is happening at RZB to a smaller extent.” RBI´s CEO Karl Sevelda announced that the…

or Log In

Fast News Search
Related News
RBI: Sevelda to Remain CEO unil 2017 (September 23, 2013)
Banking in CESEE: Risk Provisions to Decline (September 20, 2013)
RBI: Lennkh Takes Over Divisions of Sevelda (September 18, 2013)
CESEE Banking: Funding Improves (September 18, 2013)
Raiffeisen Zentralbank Österreich AG / Half Yearly Report (August 28, 2013)
Read More
RZB Raiffeisen Zentralbank, RBI Raiffeisen Bank International, Banking Industry, Austerity, Karl Sevelda, CESEE
ISIN
AT0000606306
Featured
Coronavirus Situation at the Vienna International Centre (VIC): Live-Ticker - One New Positive COVID-19 Cases, Total of 55 Cases
List of National Days of the Home Countries of All Foreign Missions and Delegations in Vienna, Austria
See latest Vindobona Newsletter