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Expansion Course of Austrian Banks Slowed Down
People ♦
Published: January 16, 2014; 11:02 ♦ (Vindobona)
After the financial crisis cooled down the expansion course of Austrian banks in CESEE countries was dampened down.
Expansion Course of Austrian Banks Slowed Down / Picture: © Wikimedia Commons / SKopp [Public domain]
Instead of growing at all costs focusing on certain markets and careful expansion plans are now on the agenda. Banks seriously consider withdrawing from countries at the European periphery, which are not part of the European Union, in particular.
The forerunners were Bank Austria, which, after losses in the millions amounted sold its Kazakh affiliate last year. Since October,…
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