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RZB Expanding to Spain

Raiffeisen Zentralbank Osterreich AG (RZB) has started operating its own branch on the Iberian Peninsula. «The primary goal of our new representative office in Madrid is to enable us to service those Spanish business customers who wish to take advantage of RZB's network in Central and Eastern Europe,» explained RZB’s CEO Walter Rothensteiner. «Spanish banks do not yet have a significant presence in this region. We will therefore bring Europe's fastest-growing markets closer to Spain.»

Until today, RZB was present in six Western European financial centres. «These offices have established themselves as the primary point of contact for clients seeking to do business in Central and Eastern Europe. Spain will be the seventh bridgehead,» said Herbert Stepic, deputy CEO of RZB and responsible for international business.

The representative office is headed by Claudio Novack Diez. He was born in Spain and looks back at over 25 years of experience in international banking, including positions at Chase Manhattan, Barclays and Banco Urquijo. He was responsible for the expansion of the latter bank into Latin America.

Raiffeisen Zentralbank Osterreich AG (RZB) is the central institution of the Austrian Raiffeisen Banking Group, the country’s largest banking group. It is a leading corporate and investment bank in Austria and also considers Central and Eastern Europe (CEE) as its home market. RZB is the only Austrian bank with a global network of business units reaching all important finance centres around the globe. It is also present in Asia via its branches and representative offices.

Via listed subsidiary Raiffeisen International Bank-Holding AG, RZB operates one of the largest banking networks in CEE. 17 markets are covered by subsidiary banks, finance leasing companies and a number of other financial services providers. About 14 million customers are attended to through more than 3,000 business outlets.

For further information please contact Andreas Ecker-Nakamura (+43-1-71 707-2222, or Gregor Bitschnau (+43-1-71 707-1955,,


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