May 2007

Herbert Stepic: a rare breed of banker

When Herbert Stepic bought his first bank in central Europe in 1987, hardly anyone noticed. Now competitors closely follow his every move. On the following pages, he tells Sudip Roy how Raiffeisen’s strategy has developed over the past 20 years and how he intends to stay ahead of the game.


"We are a hot selling organisation – I’m sorry to use that expression, as a banker I shouldn’t, but I love selling, so I have to"

Stepic refines his recipe for emerging Europe


Herbert Stepic is one of a rare breed of bankers whose name is synonymous with the institution he works at. When one thinks of RZB, one thinks of Stepic.

A cheerful, witty and charismatic man, Stepic is chief executive of Raiffeisen International and deputy chairman of the managing board at group level.

He has designed and driven the bank’s strategy for central and eastern Europe since 1986. The following year it opened its first bank in the region in Hungary – a move that Stepic says went almost unnoticed by competitors and press alike. At the time, eastern Europe was still under communist rule and considered to be a financial backwater. It was only...


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