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Examples
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Raiffeisen Chief Executive Herbert Stepic said the new rules won't cause his company to withdraw from Eastern Europe.
Europe's Banks Retreat From the East David Enrich 2011
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While acknowledging that all banks 'profits will be squeezed in the current global economic recession, Messrs. Stepic and Treichl said roughly 70% of Austrian banks' Central and Eastern Europe exposure is in countries that are members of the European Union.
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But Messrs. Stepic and Treichl said Austria's banks, including their own, are sufficiently capitalized to handle a steep increase in credit defaults and keep their Central and Eastern European subsidiaries fully funded throughout the crisis.
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"What banks would have had by 2019 they want to see in six months, at a time when capital markets are closed," said Herbert Stepic, chief executive of Raiffeisen Bank International in Vienna.
NYT > Home Page By JACK EWING 2011
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Stepic said that although the plan is likely to hit Raiffeisen in 2011, the bank is not going to cut its presence in Hungary, RIA reported.
unknown title 2011
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Herbert Stepic, Raiffeisen's chief executive, told Russian press the final figure of potential losses from operations in Hungary is still unknown, because the lender does not know how many borrowers will take up the offer.
unknown title 2011
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"If there was no IMF agreement then, of course, the country would in the medium-term default, which we don't see," Stepic said.
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Foreign media were not allowed to attend the briefing with Stepic, visiting Moscow to appoint the new head of Raiffeisen's operations in Russia.
unknown title 2011
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In an interview with Reuters Insider in June, Stepic said he sees more business growth in emerging Europe, with Russia, Poland and Slovakia looking most promising.
unknown title 2011
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Hungary has "no alternative" to reaching a bailout agreement, Raiffeisen Bank International AG Chief Executive Officer Herbert Stepic said on Bloomberg Television on Jan. 17.
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