Raiffeisen Housing Bank expects deposits of EUR 70 million this year

3. Juli 2006, 00:00

Deposit contracts at Raiffeisen Housing Bank (RBL) might reach the value of EUR 70 million by the end of 2006

Deposit contracts at Raiffeisen Housing Bank (RBL) might reach the value of EUR 70 million by the end of 2006.

"At the end of 2005, deposits at RBL amounted to EUR 28 million, three times more than in December 2004. We are confident that the upwards trend will continue and we are expecting to reach EUR 70 million, maybe even EUR 80 million this year," Johann Ertl, executive director of Raiffeisen Bausparkasse, one of RBLs shareholders.

Raiffeisen Bausparkasse (Austria) is one of the three main shareholders of RBL, with a 33.35 per cent stake.

Raiffeisen Bausparkasse has 1,7 million Austrian clients, which deposited almost EUR 6 billion at the bank. RBL started Romanian operations in 2004 and was the first bank created according to the law regarding collective savings and crediting for houses.
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