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RBI: Capital Injection for Hungarian Subsidiary Likely
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Published: October 7, 2011; 20:00 ♦ (Vindobona)
The Austrian bank’s losses from the conversion of foreign currency loans will amount to approximately € 100m.
RBI: Capital Injection for Hungarian Subsidiary Likely / Picture: © Raiffeisen Bank International AG / S. Klimpt
As a consequence of the Hungarian government’s recent announcement to convert foreign currency loans at the expense of banks, Raiffeisen Bank International (RBI) will have to give a capital injection to its local subsidiary. “It is very likely that there will be a capital increase”, confirmed CFO Martin Grüll on Friday, without giving concrete numbers. The Hungarian…
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