Austrian group Raiffeisen Bank International wants to consolidate its position in Central and Eastern Europe (CEE).

It will expand its operations on several markets: Romania, Austria, Slovakia, the Czech Republic and the Balkans, according to the bank’s general director Karl Sevelda, reports local Mediafax.

Raiffeisen Bank holds assets worth EUR 6.92 billion on the Romanian market, where it has 530 branches.

The group’s profit in Romania last year after paying taxes dropped by 3% over 2013. It amounted to EUR 97 million, compared to EUR 100 million in 2013.This was due to a reduction in provisions, according to the group’s financial results.

Raiffeisen Bank ranked 4th among Romanian banks on assets, with a 7.48% market share in September last year.

editor@romania-insider.com