AUSTRIA: PARTNER FOR RZB'S EASTERN OPERATIONS
Article Abstract:
Walter Rothensteiner, director general of Raiffeisen Zentralbank (RZB), says that the bank aims to find a partner for the holding company of its central and east European operations by the end of year 2001. The partner could be one of RZB's partners within the Unico group, i.e. Credit Agricole, DG Bank, Rabobank or Okobank. Rothensteiner does not rule out yet another partner either. He says that RZB will keep a majority stake in the holding company. The central and east European operations of RZB cover 209 branches. With a combined balance sheet total of Sch 93bn, they contribute 50% to RZB group profits. In year 2000 RZB expects a 17% increase in operating profit to about Sch 4bn on a balance sheet total of Sch 513bn. According to Rothensteiner, RZB is planning further acquisitions in eastern Europe.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA/BOSNIA/POLAND: OVAG'S EXPANSION
Article Abstract:
Osterreichische Volksbanken AG (OVAG), the central bank of Austrian Volksbank cooperative banks, is considering to set up a subsidiary in Krakow or elsewhere in southern Poland. The decision is to be taken by mid-2001. In Bosnia where the Austrian bank recently opened a subsidiary, OVAG is planning to set up branches in Banja Luka, Mostar and Tuzla. OVAG holds 75% of the stock of the new Sarajevo-based bank, while other shareholders are cooperative banks from Germany, France, Italy and Turkey. The bank with 36 staff should reach black figures within three years. OVAG expects to raise about Sch 2.5bn in a capital increase in the first quarter of 2001. Deutsche Genossenschaftsbank (DG-Bank) will retain its blocking minority, and the German insurance group Ergo will raise its stake from 6% to 10%.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: CAPITAL INCREASE AT RZB
Article Abstract:
The shareholders' meeting on 29 November 2000 is to take a decision on raising the capital stock of Raiffeisen Zentralbank (RZB) by Sch 5bn or about 35% in two steps by early 2003. The money raised in the capital increase is to be used for expansion on central and east European markets and in Austria as well as for investments in internet.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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