Tirana, 17 December 2014
- CE shows resistance to slack growth in Russia and the euro area
The picture in Central and Eastern Europe (CEE)[1] continues to be quite divergent, with the CE region clearly standing out. For 2015, the GDP forecasts for Poland (3.5 per cent), Slovakia (2.5 per cent), the Czech Republic (2.4 per cent), Hungary (2.3 per cent) and even Slovenia (2.0 per cent) are robust. In SEE, Romania (2.7 per cent) is the benchmark, while most other countries in the region, such as Serbia or Croatia, continue to experience stagnation.
“CE is on the fast track – a development we have been observing over the last couple of quarters. The growth in the region is mainly backed by domestic demand and hence shielded from the current developments in the euro area and Russia,†says Peter Brezinschek, Chief Analyst of Raiffeisen Research at Raiffeisen Bank International AG (RBI) in his presentation of the “Central and Eastern European Strategy†for the first quarter of 2015.
In Albania,regardless of the negative posting of 0.61% in Q2 2014 affected also from the low level of capital public investments, the economy is expected to grow at 2% in 2014. In 2015 the growth is estimated to be at 3% supported from the external demand and an eventual moderate recovery of the domestic demand. Energy, oil & gas as well as industry sector are expected to be the driving sector of the economy for 2015. The fiscal consolidation has started to kick in and we would expect the public debt to decrease at 70% of the GDP in 2015.
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Raiffeisen Bank, part of Raiffeisen Bank International AG is the largest bank in the country with the widest network of branches, ATM and POS .
Raiffeisen Bank International purchased the Albanian Savings Bank in 2004 and over the last 10 years has completely transformed the old State Bank into a full service bank serving all sectors of the business and private individual markets. With lending to corporate customers and small and medium-sized enterprises, the intensive training of staff and the offering of new banking products, Raiffeisen Bank has underpinned its leading market position.Raiffeisen Bank has reinforced its leading position in the market, bringing banking services in Albania at a level that compares to the 21st century European standards. Raiffeisen Bank now serves over 700,000 customers in Albania.
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Raiffeisen Bank, part of Raiffeisen Bank International AG is the largest bank in the country with the widest network of branches, ATM and POS .
Raiffeisen Bank International purchased the Albanian Savings Bank in 2004 and over the last 10 years has completely transformed the old State Bank into a full service bank serving all sectors of the business and private individual markets. With lending to corporate customers and small and medium-sized enterprises, the intensive training of staff and the offering of new banking products, Raiffeisen Bank has underpinned its leading market position.Raiffeisen Bank has reinforced its leading position in the market, bringing banking services in Albania at a level that compares to the 21st century European standards. Raiffeisen Bank now serves over 700,000 customers in Albania.
Raiffeisen Bank International AG (RBI) regards Austria, where it is a leading corporate and investment bank, as well as Central and Eastern Europe (CEE) as its home market. 15 markets of the region are covered by subsidiary banks. Additionally, the Group comprises numerous other financial service providers, for instance in the fields of leasing, asset management, as well as mergers and acquisitions. RBI is the only Austrian bank with a presence in the world's financial centers via branches and representative offices.
In total, around 56,000 employees service 14.6 million customers through approximately 2,900 business outlets, the great majority of which are located in CEE.
RBI is a fully-consolidated subsidiary of Raiffeisen Zentralbank Österreich AG (RZB). RZB indirectly owns around 60.7 per cent of the shares, the remainder is in free float. RBI's shares are listed on the Vienna Stock Exchange. RZB is the central institution of the Austrian Raiffeisen Banking Group, the country's largest banking group, and serves as the head office of the entire RZB Group, including RBI.
For further information please contact:
Ingrid Krenn-Ditz (+43-1-71 707-6055, [email protected]) or
Anja Knass (+43-1-71 707-5905, [email protected]).
http://www.rbinternational.com, http://www.rzb.at
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Raiffeisen Centrobank is a leading Austrian investment bank offering the full spectrum of services and products associated with stocks, derivatives and equity capital market transactions, both via the stock exchange and off market. Raiffeisen Centrobank is a 100% subsidiary of Raiffeisen Bank International AG.
For further information, please contact Andrea Pelinka-Kinz (+43-1-51 520-614, [email protected]).
http://www.rcb.at
[1] Central and Eastern Europe (CEE) is composed of the regions of Central Europe (CE) with the Czech Republic, Poland, Slovakia, Slovenia and Hungary, Southeastern Europe (SEE) is composed of Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Romania and Serbia, CEE Others with Ukraine and Belarus, as well as Russia.
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