Published: March 24, 2010
Austrian bank and CEE subsidiary confirm willingness to do deal.
Austria’s RZB and Raiffeisen International, its listed Central and Eastern Europe subsidiary, are pursuing merger plans that should improve the enlarged group’s access to international capital markets and strengthen its standing in CEE.
The two companies announced in late February that they were considering a merger. They have now confirmed that both sides are willing to do a deal, although no agreement has yet been reached. If a deal completes, the bank would remain listed on the Vienna Stock Exchange.
In a statement, Herbert Stepic, CEO of Raiffeisen International and deputy chairman of RZB, said: “One of the key arguments for this merger lies in the improved access to capital and money markets that the merged bank would enjoy in comparison to Raiffeisen International’s current status. This step would also contribute to Raiffeisen International’s risk diversification and would make it possible to further optimise risk management for the group in the future."