Raiffeisen bank expands its footprint further in CEE. Taking over customers from Swedbank and HandelsbankenRegional info/economyPosted by Chambers of Commerce Sweden - Southeast Europe Thu, August 25, 2011 23:25:14
The Austrian bank Raiffeisen has today published its 2011 H1 result, showing a significant result improvement. While several other large international banks, e.g. the two Swedish banks Swedbank and Handelsbanken, are reducing their activities in Russia considerably, Raiffeisen instead is expanding its footprint by taking over some of their customers.
In their outlook for the next few years, RBI sees a solid growth in CE, SEE as well as CIS markets. The region has a strong convergence potential due to low levels of banking intermediation compared to the Eurozone. The public debt levels of most CEE economies are well below EU levels. More of the bank´s forecast as well as a full presentation of its result can be downloaded here and here.