Raiffeisen Bank International warns may post 2015 loss
Reuters
Published Mar 25, 2015 07:01
Raiffeisen Bank International warns may post 2015 loss
VIENNA (Reuters) - Raiffeisen Bank International (VI:RBIV) warned on Wednesday it may post a 2015 loss as it books restructuring costs for a major retrenchment after decades of expansion in central and eastern Europe.
"The full year 2015 consolidated result may be negative as the majority of the restructuring costs (about 550 million euros/404 million pounds) are expected to be booked in 2015," it said, while confirming it posted a 2014 loss of 493 million euros (362 million pounds), its first ever.
Emerging Europe's second-biggest lender had said last year it expected a consolidated profit in the mid-triple-digit millions of euros this year. It announced its drastic revamp early this year.
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Written By: Reuters
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