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RLB Upper Austria Intends to Grow in Russia

Published: March 14, 2011; 00:49 · (Vindobona)

The regional bank Raiffeisenlandesbank Upper Austria (RLB) purchased a 2.95% share in the South Russian Krayinvestbank in Krasnodar.

RLB Upper Austria Intends to Grow in Russia / Picture: © Reuters

The motive behind the purchase is to create further contacts with the local administration and economy. RLB´s CEO Ludwig Scharinger already travelled together with 18 chief executives to South Russia.

Krayinvestbank is also a regional bank and the biggest one in the province of Krasnodar. The bank employs about 1216 collaborators and runs 73 subsidiaries. The total assets are…

This article includes a total of 223 words.

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