Raiffeisen Bank Serbia to Increase Capital by EUR 100 Million

17. Juli 2006, 00:00

President of the Executive Board of Raiffeisen Bank Serbia , Oliver Regle, has announced that this bank will soon...

President of the Executive Board of Raiffeisen Bank Serbia, Oliver Regle, has announced that this bank will soon increase its capital by EUR 100 million, the Beta news agency has reported.

Part of this money will be invested in crediting of the economy and of small and medium-sized firms.

“The fact that were increasing our capital in Serbia proves that we believe that the Serbian economy is promising, which we are saying to clients and prospective investors,” Regle noted.

He pointed out that with EUR 674.3 million invested by the end of 2005, Raiffeisen Bank is the biggest creditor of the Serbian economy.

He added that the loans to firms rose 54 per cent in one year, while the means for small and medium-size firms doubled to EUR 101 million.

The clients of Raiffeisen Bank Serbia are still facing lack of legal harmonisation and administrative barriers, Regle said.

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