The European Central Bank has told Austria's Volksbanken group to strengthen its balance sheet by next July as it rushes to wind down its flagship unit and plug a capital hole exposed by this year's health checks on euro zone banks.
Raiffeisen Zentralbank
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Raiffeisen Bank International, a subsidiary of Raiffeisen Zentralbank, may hike its equity capital by as much as €2.25 billion in the next six months. The Austrian lender will be selling shares to bolster its weak balance sheet.
Raffeisen Zentralbank agrees to acquire loan assets from Volksbanken AG as part of the bailout plan.
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