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Treichl to be Confirmed as CEO

Published: November 26, 2011; 17:12 · (Vindobona)

Erste Group´s CEO Andreas Treichl will extend his function at the Austrian major bank.

Treichl to be Confirmed as CEO / Picture: © Vindobona.org

Andreas Treichl, whose contract with Erste Group expires in 2012, will receive a new one, the newspaper “Wiener Zeitung” reports. In 2012, Treichl will be 60 years old. He should already have decided in favor of extending the chairmanship. With his family, Treichl came already to an arrangement, the newspaper reports.

According to the supervisory board director, Heinz Kessler, the board still has full trust to Treichl. The CEO of Erste Group explained that the 9.0% core capital quota, which the European Bank Authority (EBA) demands, will be reached until June 2012. “This is a target which we will certainly meet.” Regarding the repayment of the participation capital, which has been provided by the Austrian state in 2009, Treichl expects that this will not take place soon. “We will have to earn as much as the participation capital amounts to in order to repay it.” However, a capital increase would not be necessary.