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Austria : AUSTRIAN BANK OBERBANK inaugurates 7 to 10 NEW UNITS

August 23, 2014

7 to 10 new units would be inaugurated by Austrian bank Oberbank in the country by 2016,

The bank is projecting to open 12 new units in the long run.

A costly FX loans relief scheme and the political climate, Hungary is seen as a "problematic territory" by big Western banks but not by Oberbank because of several factors, including a high banking tax.

The expansion of Oberbank projects were boosted by the fact that big foreign banks such as Erste Bank and CIB have closed down some of their branches. But Oberbank is only planning organic growth.

Gasselsberger added,"We are not buying anything from other banks, and we are not buying other banks".

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Source: TendersInfo (India)

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