Awards for Excellence 2009: Austria
Best Bank: RZB
RZB navigated its way through the credit crisis in part because of its solid domestic franchise. RZB’s Vienna-based business conducted with Austrian and international corporations was a major driver of income. Operating income from this segment of its business rose by 19.1% in 2008, to €314 million.
The other pillar of its domestic activities was its retail customer base. Over the course of the year it increased the number of private individuals and SMEs by 1 million to 14.7 million. As the central bank for Austria’s Raiffeisen cooperative banking sector, RZB was able to call on its owners for additional capital.