BRANCH BANKING | Staff Reporter, Hong Kong

Raiffeisen Bank International now in Hong Kong

Austria’s third largest bank can now do business in Hong Kong.

The Monetary Authority has granted a banking license to Raiffeisen Bank International AG based in Vienna. RBI is the third largest bank in Austria in terms of Tier 1 capital, said The Banker magazine.

The move brings the number of licensed banks in Hong Kong to 155.

RBI is the largest unit belonging to Raiffeisen Banking Group Austria (RBG). In 2010, the balance sheet of the RZB Group amounted to 136.5 billion euros.

Raiffeisen Zentralbank Österreich AG is the central institution of RBG and also functions as the group centre for the entire RZB Group.

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