Raiffeisen Bank Romania to break even

Raiffeisen Bank Romania will increase investments by 80% this year, from 20 million euros in 2002 to more than 36 million euros. At the same time, the bank’s management hopes to break even in 2003. Raiffeisen Bank ranks fifth in the top of Romanian banks, but is eyeing the third place. The development projects prepared for 2003 by the bank’s management target the IT system, the ATM and POS network and the modernisation and growth of the subsidiary network. The ATM and POS network will grow by more than 50%. In 2001, the Romanian American Enterprise Fund and Austrian group Raiffeisen Zentralbank Oesterreich (RZB-Austria) have bought Banca Agricola (the Agricultural Bank) from the Romanian State. ZF