Raiffeisen International finances local subsidiary with EUR 35 mln
Raiffeisen International has granted a EUR 35 million loan to its Romanian subsidiary, although the market is liquid and there is no demand for financings, according to Herbert Stepic, the group's general manager (in picture), quoted by…
Romania Insider · Journalist
· Updated · 1 min read
Raiffeisen International has granted a EUR 35 million loan to its Romanian subsidiary, although the market is liquid and there is no demand for financings, according to Herbert Stepic, the group's general manager (in picture), quoted by Mediafax newswire. “We have financed the Romanian subsidiary after signing the Vienna agreement and we have increased our exposure to at least EUR 500 million in total,” said Stepic. He also said the bank's market share in terms of assets will remain at the current level or even increase in the future, after seeing a decrease last year. The bank optimized its costs last year and didn't want to sacrifice revenues for market share in term of assets because the economic environment was very difficult, said Stepic.
