Hungary: Raiffeisen to Build HUF 20-28 Billion Headquarters in Budapest

24. Oktober 2006, 00:00

Raiffeisen Bank Zrt unveiled plans to build a HUF 20-28 billion office and residential complex to house its new...

Raiffeisen Bank Zrt unveiled plans to build a HUF 20-28 billion office and residential complex to house its new Hungarian headquarters. The construction works will start in January 2007, and is to be completed by 2009, CEO Peter Felcsuti told a press conference.

Four of the Banks units will move into the new complex. Designed by the Finta architects office, the building will require a special permit from the city as its 32 stories exceed the current 78-meter height limit.

During Q1 2006, Raiffeisen Bank enjoyed a share of nearly 12 per cent of the total growth in bank-sector corporate loans. The Bank’s corporate customer base grew nearly 50 per cent over the figure for the same period last year, a result attributable to more intensive targeting of the SME segment and to concerted product development efforts.

By the end of the Q1 2006, there were 99 Raiffeisen Bank branches nationwide. Expansion will accelerate throughout the rest of the year, finishing at a total of 120 branches by the end of 2006.

CEO Peter Felcsuti said half of the offices in the new building had already been sold.

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