With yesterday’s value date, Raiffeisen Zentralbank Osterreich AG (RZB) finalized its recent capital increase. The capital of the bank increased by 165 million Euros. The new shares were issued at 600 Euros per share, all shareholders subscribed. «The success of the capital increase demonstrates the cohesion of the Raiffeisen Banking Group and the trust of the shareholders in RZB’s business model,» RZB CEO Walter Rothensteiner said.
The issue was the third of a program aimed at strengthening the bank’s capital starting in 2006.
249,391 new ordinary shares and 25,719 preference shares were issued. The new issued shares are qualified for dividends starting 1 January 2009. The issue corresponds to an increase of the nominal capital of 5 per cent to 443 million Euros. RZB Group’s total own funds amounted to 10.5 billion Euros as at 30 June 2008, representing an excess-cover ratio of 14.4 per cent.
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, leasing companies and a range of other financial services providers. Over 14 million customers are served in more than 3,000 business outlets.