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Raiffeisen International's Croatian subsidiary gets 30 million loan
Croatian Times
Raiffeisen International’s (RI) Croatian subsidiary Raiffeisenbank
Austria d.d. received a 30-million-Euro credit by the German Investment
and Development Society (DEG), it was announced.
RI said today (Fri) the money would be used to support small and medium-sized enterprises (SME) in the country.
There
were 7,889 new businesses registered at the Croatian
Commercial Court last year, or one per
every hour. That is a 30 percent decrease from 2008. The statistics show,
however, that the number of enterprises going out of business also fell by 45
percent to 947.
The
CEO of Raiffeisen
International Herbert Stepic added that the loan "provides additional
proof of the long-term commitment that both Raiffeisen International and the DEG have to
the region of South-eastern Europe."
There
was speculation recently that RI’s parental company Raiffeisen Zentralbank
(RZB) was considering merging with RI, which handles its operations in Central
and Eastern Europe.
RZB chief Walter Rothensteiner and RI boss Herbert Stepic dismissed reports
about such a plan, but admitted they have been in talks over how to
successfully tackle future challenges.
The institutes’ intense investment in CEE has been a success story for many
years, but suffered a serious setback over the past two and a half years due to
the effects of the global economic downturn.
Raiffeisen International has 85 outlets in Croatia and
is the country‘s fourth largest banking institution.
Tag cloud handles Central talks Europe enterprises institutes percent Stepic Croatian Investment challenges International Raiffeisen businesses fourth loan Rothensteiner Walter tackle success
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