The bank formed on the basis of IMPEXBANK and RAIFFEISENBANK AUSTRIA will prioritize financing small and mid-size businesses, the bank’s press service said. Its ramified regional network, encompassing 45 regions, will enable nationwide small and mid-size business financing. Johann Jonach, chairman of the RAIFFEISENBANK AUSTRIA management board, said so. In 2006, loans made to small and mid-size businesses accounted for over 33% of RAIFFEISENBANK’s overall corporate portfolio, with the regions accounting for over 32% of the aggregate portfolio. IMPEXBANK also reviewed its performance in small and mid-size business crediting in 2006. Its relevant credit portfolio grew by 43% year-on-year to reach R10.354 billion ($395 million/E300m) by early 2007. The IMPEXBANK branches accounted for over 90% of the portfolio growth. This year IMPEXBANK will adopt a new small business classification. Two categories of borrowers will be considered as small businesses, namely, micro businesses with annual receipts of up to E1.0m and small businesses with annual receipts of up to 8.0m euros.
Source: NOVECON, February 20, 2007
