VBI: Romania Remains a Weak Point

Published: March 16, 2011; 01:52 · (Vindobona)

The foreign holding of the Austrian Volksbanken group has to cope with credit risk provisions for € 160m from its Romanian subsidiary.

VBI: Romania Remains a Weak Point / Picture: © Wikipedia / MrPanyGoff

The Romanian subsidiary of VBI (Volksbank International) still reported profits for € 47m in 2009. In 2010, the situation turned: the annual loss was € 36m, due mainly to increased credit risk provisions.

The CEO of VBI, Friedhelm Boschert, expects the return to the profitability zone again for this year. The credit risk provisions were created ​​primarily for private…

This article includes a total of 190 words.

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