Raiffeisen

BELGRADE - Raiffeisen bank Belgrade has announced it had successfully completed a legal and operational merger of RBA bank, which began with an acquisition of a 100 pct stake in the bank - the former Credit Agricole Serbia - in April last year.

KBC Bank (KBC) and Austria's Raiffeisen Bank International (RBI) have announced that they have reached an agreement with a Belgian-based banking group to acquire 100% of the shares of Raiffeisen (Bulgaria) EAD, which conducts banking operations on the side of RBI.

The National Authority for Consumer Protection (ANPC) has issued a fine to Raiffeisen Bank worth 100,000 RON (rd 20,280 euro) for incorrect commercial practices and decided to suspend the bank's activity regarding this behaviour, the first time such a measure was applied n Romania, as well as ordered it to return the illegally cashed commissions from customers, the ANPC informs.

Raiffeisen Bank proceeded to implement the ANPC (National Authority for Consumer Protection) order according to which the management fee could not be included in the interest margin for the restructuring of the loans, and after the restoration of the calculations, the bank will return to the clients any amounts collected in excess, the bank's representatives told AGERPRES.

A few days ago, however, another purchase was announced, so when the merger of Raiffeisen and Credit Agricole Bank is completed, there will be one bank less.
Considering the announcements, there will be more such transactions in the coming months, Novosti writes.

Greek cement maker Titan plans to raise 250 million euros ($290.05 million) from issuing new notes to refinance debt and pay back bank and other commercial loans, the company said on Monday.

The European Investment Fund (EIF) and Raiffeisenbank Bulgaria, a subsidiary of Raiffeisen Bank International signed a guarantee agreement to increase lending to innovative SMEs and small mid-caps in Bulgaria.

The transaction benefits from the support of the European Fund for Strategic Investments (EFSI), which constitutes the heart of the Investment Plan for Europe.

The Austrian Raiffeisen Bank has denied releasing financial statements relating to an account held by the Balkan Investigative Reporting Network, BIRN, to the Serbian daily tabloid newspaper Informer.

Research by Raiffeisen Bank Austria, RBA, on economies in Central and Southeas Europe suggests that Croatia and Serbia had negative GDP growth in 2014 and will not grow much in 2015, either.

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A subsidiary of Austrian Raiffeisen Bank International has said it will close all offices in Crimea by mid-April.

According to a statement of the bank, as cited by international news agencies and Sega daily, the last 6 of the total of 32 offices of the bank in Crimea will be closed by April 15.