Romanian banks will profit from the banking system support plan in Austria

Joi, 12 februarie 2009, 17:19 English | Regional Europe

The Romanian banks will take advantage, even if indirectly, on the support the Austrian state will offer to its own banking system, worth 100 billion Euros. Large Austrian banks, also operating in Romania, have already asked for support, said the Austrian Finance Minister, Josef Proll. The bailout plan will lead to the market stabilization in Romania as well, said the official, bringing more freedom of action.

The Austrian bailout plan includes 15 billion Euros cash and 85 billion Euros as guaranties.

Erste and Raiffeisen, the two large groups with a strong development in Eastern Europe, already appealed to the bailout plan, receiving both capital injection and state guaranties for emission of bonds.