Sevelda: „We Are Close to the Breaking Point“

CommentOpinion ♦ Published: November 29, 2013; 15:39 ♦ (Vindobona)

In a guest comment published by the Austrian business magazine Format, CEO of Raiffeisen Bank International Karl Sevelda refers to the high burden for Austrian banks.

Sevelda: „We Are Close to the Breaking Point“ / Picture: © Raiffeisen Bank International AG / Press Photo

According to Sevelda, the Austrian banking industry suffers from competitive disadvantages. Compared to other countries, the Austrian banking sector is burdened heavily with legal requirements and fiscal burdens. Despite the unfavorable frame conditions, the Austrian banking sector has performed very well in the last years. “Although Austrian banks had to improve their capital ratios…