Stepic: “Must Reduce Lending in CESEE”

More+Comment ♦ Published: October 11, 2012; 21:13 ♦ (Vindobona)

The CEO of Austrian RBI (Raiffeisen Bank International) Herbert Stepic explains that new lending in Eastern Europe must be reduced substantially.

Stepic: “Must Reduce Lending in CESEE” / Picture: © Flickr / St. Petersburg International Economic Forum

Eastern Europe faces stricter lending conditions. According to RBI´s CEO Herbert Stepic, lending must be cut in economically weaker countries like Hungary or in Southeastern Europe. “We must downsize in Eastern Europe because of the new capital requirements.” he says. As a result, RBI would focus on Poland and Russia instead, he told “Handelsblatt”. Stepic complains about the…