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RBI to assess options for Polish unit after IPO, RBI deputy CEO says

Raiffeisen Bank International AG will assess its options regarding Raiffeisen Bank Polska SA after floating the Polish unit on the Warsaw Stock Exchange, the deadline for which is June 2017, Reuters reported Dec. 20, citing RBI's deputy CEO and chief risk officer, Johann Strobl.

Strobl, who was speaking to reporters, said that it would be better if the IPO could be completed as soon as possible, while noting that the lender was unlikely to list more than 15% of Raiffeisen Polbank due to the current price levels of Polish banks.

Strobl, who will head the combined bank formed by the merger of RBI with Raiffeisen Zentralbank Österreich AG, added that the Polish unit needs to lower its cost-to-income ratio to within a target range of 50% to 55% from its current level of above 70%. He believed the target ratio range could be achieved within two years and would involve a major round of staff layoffs.

A potential sale of Raiffeisen Bank Polska's core banking operations to Alior Bank SA collapsed earlier in December.