RBI Plans on Reconstructing Branch Banks

Politics ♦ Published: July 15, 2013; 13:03 ♦ (Vindobona)

The new concept of Karl Sevelda, successor of former CEO Herbert Stepic, is becoming clearer. He has inherited the task to reconstruct the capital of Basel-III.

RBI Plans on Reconstructing Branch Banks / Picture: © Raiffeisen Bank International AG / Press Photo

The Austrian Raiffeisen Bank International (RBI) is starting to cut costs. Selvelda told Austrian “Standard” that the bank started a massive program for increasing profits and decreasing costs. The institute will require € 1.75 on a medium-term, to reqpay the so-called participation capital provided by the Austrian state during the financial crisis. Furthermore, the bank faces…