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It is more than 10 years since the collapse of Lehman Brothers, but Andreas Treichl still hasn’t forgiven himself for what he sees as the biggest mistake he made in the run-up to the financial crisis.
“I had always been vehemently opposed to currency-mismatched lending to individuals,” says the veteran chief executive of Erste Group. “Everyone in Austria thought it was normal, the bankers all had FX mortgages themselves, but I hated it.
“Yet I ended up owning a bank in Hungary that had the highest market share in FX lending in the country.
