AUSTRIA/EAST EUROPE: RZB BOOSTS CONSUMER BANKING

Article Abstract:

Raiffeisen Zentralbank (RZB) of Austria is to raise to 150 the number of branches in central and eastern Europe, where it claims to be the market leader. It is to spend Sch 2.3bn on expansion in Poland, the Czech Republic, Slovakia and Hungary in the next five years. RZB, which has so far concentrated on commercial and investment banking in eastern Europe, is now planning to boost consumer banking. The target group will be individuals with annual incomes of more than US$ 10,000. The bank expects to reach break-even within five years and gain 1.2mn clients within ten years. By the end of 1999 the total should rise to 50,000. Due to investments in central and eastern Europe and a marketing campaign in Austria, RZB saw its operating profit fall by 9.9% in the first half of 1999.

Strategy & planning, Facilities & equipment, Eastern Europe, Raiffelsen Zentralbank

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Allianz vertreibt ab September ber Bawag

Article Abstract:

According to Manfred Baumgartl, Allianz director for life insurance, the German insurance giant is to start cooperation with Bawag in September 1998. Participatory holdings are to be exchanged at the end of 1998. In future Bawag bank branches will market Allianz's non-life policies. In return, Allianz's 1,800 field sales staff will market salary accounts and loans of Bawag. As Bawag's own Bawag-Versicherung sells life policies, Allianz expects the cooperation to boost business in life reinsurance. Bawag is to transfer its own corporate pension fund to Allianz and get an about 30% stake in Allianz's pension fund in return.

Comment:

Will start cooperation with German insurer, Allianz in marketing latter's non-life policies

Publisher: Unabhaengige Tageszeitungs fuer Oesterreich
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 1998

Insurance, Insurance Carriers and Related Activities, Allianz Aktiengesellschaft Holding, Bawag

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Kathrein kooperiert mit Trinkaus

Article Abstract:

Bankhaus Kathrein & Co. AG, which is owned by Raiffeisen Zentralbank sterreich AG, has signed a cooperation agreement with German private bank Trinkaus & Burkhardt KGaA, subsidiary of HSBC. The Austrian bank will take over the Austrian and east European clients of the German bank in the sector of private banking. *

Comment:

Signs cooperation deal w/ Bankhaus Kathrein & Co for latter to take over Austrian & east European clients

Publisher: Unabhaengige Tageszeitungs fuer Oesterreich
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 1998

Bankhaus Kathrein and Company AG, Trinkaus und Burkhardt

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Subjects list: Commercial banks, Austria, Article