The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Austrians make bridgehead


Austria's banks may have had regional expansion thrust upon them, but they have achieved much over the past decade in broadening their franchise, developing retail banking in central and eastern Europe and acting as a bridgehead between transitional economies and the western capital base. Austrian banks reacted very quickly to the opportunities that were opened up in the region as a result of political reform.

"We opened in Hungary in 1987 when it was still under communist rule," says Herbert Stepic, deputy chairman of the board of management at Raiffeisen Zentralbank (RZB) in Vienna, "and we have been a forerunner and a pioneer in the region ever since. We wanted to make sure we were ready to service our existing and new customers before they even arrived in the region, which gave us the opportunity to generate first-mover advantage in a number of the central and eastern European economies."

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree