Raiffeisen seeks cost cuts, no plans to exit from any region, CEO says
Austria’s Raiffeisen Bank International must cut costs “massively” as opportunities to grow dry up in parts of Central and Eastern Europe, its new chief executive said in interviews quoted by Reuters. Karl Sevelda, RBI’s former corporate banking chief, took over as chief executives of CEE’s second-biggest lender two weeks ago after the sudden resignation of Herbert Stepic. “Unfortunately, the economy in Eastern Europe is not as good or recovering as fast as we originally thought”, Sevelda told Kleine Zeitung. In a separate interview to Kurier he also said, that there were no plans to exit any region, adding that in Russia, Poland, Slovakia, the Czech Republic, Romania and Austria the bank wants to grow further, especially in business with private clients.
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
