VBAG: Raiffeisen Tries to Justify Breach of Contract

Published: January 16, 2013; 22:24 · (Vindobona)

In an interview with the Austrian newspaper “Standard”, RZB´s (Raiffeisen Zentralbank) CEO Walter Rothensteiner explains why the banking group did not acquire loas from VBAG.

VBAG: Raiffeisen Tries to Justify Breach of Contract / Picture: © Raiffeisen Zentralbank Österreich AG / Peter Rigaud

As minority shareholder of VBAG, RZB would have been obliged to acquire loans with a volume of more than € 1.0bn. RZB did not carry out its duty, however. Rothensteiner: “We do not buy non-performing loans. We would be ready to talk about of volume of € 500 to € 600m at most. But of course we want to help VBAG.” Rothensteiner explains that RZB would have to write-down the…

This article includes a total of 211 words.

or Log In

Fast News Search

Join us to succeed in Vienna! Sign up to read articles for free and to get personalized updates on the events that interest you.

VBAG: Raiffeisen Tries to Justify Breach of Contract

In an interview with the Austrian newspaper “Standard”, RZB´s (Raiffeisen Zentralbank) CEO Walter Rothensteiner explains why the banking group did not acquire loas from VBAG.

Join us to succeed in Vienna!
Sign up to read articles for free and to get personalized updates on the events that interest you.