Raiffeisen International Bank Holding

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Raiffeisen International Bank-Holding AG

logo
legal form Corporation
founding 1991
Seat Vienna 3 , Austria
management Karl Sevelda
Number of employees 56,530 (December 2009)
Branch Banks
Website www.ri.co.at

The Raiffeisen International Bank-Holding AG was until 10 October 2010 on the Vienna Stock Exchange -listed subsidiary of Raiffeisen Zentralbank for the Eastern European business. It was taken over in its entirety by Raiffeisen Bank International AG . In 2009 the company had 15.1 million customers who were served in 3,018 branches.

Markets

Raiffeisen International, Am Stadtpark 3, 1030 Vienna

The Raiffeisen International (RI) network comprised 15 banks with branches in the following 17 markets in Central and Eastern Europe and Kazakhstan:

Raiffeisen International's markets
as of December 31, 2009
country Balance sheet total
(in million euros )
Business and
sales outlets
Albania 1,842 104
Belarus 1,224 96
Bosnia and Herzegovina 2,325 101
Bulgaria 3,998 199
Kazakhstan 74 1
Kosovo 672 51
Croatia 5,900 85
Poland 6.241 124
Romania including Moldova 6.164 563
Russia 11,681 215
Serbia 2,762 101
Slovakia 9,324 152
Slovenia 1,583 17th
Czech Republic 7,739 111
Ukraine 4,983 953
Hungary 8,778 145
Consolidation 986 00
total 76,275 3,018

Raiffeisen International was thus one of the largest foreign banks in Central and Eastern Europe .

Acquisitions

The largest takeovers by Raiffeisen International were

  • the acquisition of 93.5% in the Ukrainian bank Aval in 2005 for 836 million euros ,
  • the complete takeover of the Russian Impexbank in the spring of 2006 for a maximum of 550 million dollars (after increasing the share capital , Impexbank was merged with the Russian RI subsidiary ZAO Raiffeisenbank Austria to form the largest foreign bank in Russia and the eighth largest in the Russian market as a whole)
  • the purchase of Banka e Kursimeve e Shqipërisë (Albanian Savings Bank) in 2004 for 125 million US dollars and
  • the majority takeover of the Czech eBanka as in 2006 (merged with Raiffeisenbank as founded in 1993 in July 2008 ).
Branch of the Raiffeisenbank (Bank Aval) in Lutsk , Ukraine
Branch in downtown Warsaw, 2010

In Ukraine, RI was unable to merge its subsidiary JSBC Raiffeisenbank Ukraine (RBU) with Bank Aval as planned . The RBU was therefore sold in 2006 for EUR 650 million. In March 2009, Raiffeisen International had to provide Bank Aval with USD 160 million in equity . The grant took the form of a subordinated loan with a term of ten years.

Effects and reactions to the international financial crisis

The international financial crisis that started in the USA in 2007 is affecting economic development in all countries of the world and, of course, those of the so-called CEE countries . The economic situation in these countries is quite mixed. In addition to states that had to use the help of the International Monetary Fund to support their national currency , there are countries that have a significantly better GDP development than Western Europe. Since the large Austrian banks have expanded their banking business in the CEE countries very strongly in the last few decades, there has been an increasing number of media reports and analyzes since the end of 2008, which suspect that Eastern European debtors are having growing difficulties with the repayment of their loans and that this will have negative effects on future ones Close the creditworthiness of the Austrian banks. In February 2009, CEO Herbert Stepic told Reuters : “We have calculated all possible stress test scenarios. But not even in the worst case would we write a net loss for 2009. "

Despite the financial crisis and although the expense for the default provision was doubled, the 2008 profit increased from 841 to 982 million euros. In 2009, Raiffeisen-Internation again achieved a positive result despite a significant increase in loan loss provisions. The deterioration in the solvency of many borrowers made it necessary to significantly increase the allocation to loan loss provisions. In August 2009, Raiffeisen International increased its equity by issuing profit participation rights by € 600 million. In September 2009 the company received an additional € 650 million from an issue of hybrid capital . Both issues were fully subscribed by RZB.

Stock exchange

Raiffeisen International Bank-Holding has been listed on the Vienna Stock Exchange since April 28, 2005 , where it was listed under the designation " ISIN: AT0000606306, abbreviation: RIBH " in the ATX leading index and had an issue price of 40 euros per share. The IPO brought in 1,113.8 million euros. With 70%, Raiffeisen Zentralbank was still the main shareholder , the rest was in free float . By the end of March 2007 the share price had increased by more than around 240% to around 110 euros per share. The market capitalization was around 15 billion euros.

In September 2007, RI carried out a capital increase on the Vienna Stock Exchange with a planned volume of 1.2 billion euros. A total of 11.9 million shares were allocated at a price of 104 euros. As a result, RZB's share fell to 68.5%.

On October 13, 2010, a corporate action took place due to the merger. The new bank continues to be listed on the Vienna Stock Exchange with ISIN AT0000606306, but under a new name.

Merger with RZB

At the end of February 2010, General Directors Walter Rothensteiner and Herbert Stepic announced that they were considering merging Raiffeisen Zentralbank (RZB) with Raiffeisen International (RI). This would create broader access to the capital, money and bond markets for the bank. Because everything takes place within the consolidated balance sheet , the equity ratios will not change. In a first step, RZB's operational business is to be spun off into a 100% subsidiary. This is then to be merged with RI, which will operate under the new name in the future. The merger will give the new bank an Austrian banking license and continue to be listed on the stock exchange . The transaction does not include the functions of RZB as the central institution of the Raiffeisen Banking Group Austria and the related business areas and investments of RZB.

On April 19, 2010 the boards of the two institutes decided to submit this merger to the shareholders for resolution. At the Annual General Meeting on July 8, 2010, the majority of Raiffeisen International Bank-Holding shareholders approved the merger of RI with parts of Raiffeisen-Zentralbank (RZB). These parts of RZB essentially relate to the commercial customer business spun off from Raiffeisen Zentralbank Österreich AG as well as the associated investments. RZB shareholders had already voted in favor of the merger the day before. On October 11, 2010, the Raiffeisen Bank International AG , which was formed from the two companies, began operations.

See also

Web links

Commons : Raiffeisen International Bank Holding  - Collection of images, videos and audio files

Individual evidence

  1. a b Annual Report RI 2009 Archived copy ( memento of the original from April 3, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / gb2009.ri.co.at
  2. Wiener Zeitung : RI allocates 160 million euros to its Ukraine subsidiary , March 2, 2009 (accessed November 7, 2013)
  3. boerse-express.com: Börse NewsRaiffeisen International - Even in the worst case there is no risk of loss this year | boerse-express.com , February 20, 2009, accessed January 14, 2011
  4. Handelsblatt - Raiffeisen International is bleeding in Eastern Europe (accessed on March 26, 2009)
  5. Der Standard , March 29, 2007, pp. 27f.
  6. SwissInfo - http://www.swissinfo.ch/ger/news/newsticker/wirtschaft/Raiffeisen_International_und_Raiffeisen_Zentralbank_fusionieren.html?cid=8708276
  7. ^ Standard report - http://derstandard.at/1277337696278/Anleger-züge-gruenes-Licht-fuer-Fusion