October 5, 2016 / 6:47 PM / 10 months ago

Raiffeisen banks give go-ahead for merger

1 Min Read

VIENNA, Oct 5 (Reuters) - Austrian lender Raiffeisen Bank International and its unlisted parent Raiffeisen Zentralbank have decided to go ahead with their proposed merger aimed primarily at boosting RZB's capital reserves, the companies said on Wednesday.

"The management and supervisory boards of Raiffeisen Zentralbank Oesterreich AG (RZB) and Raiffeisen Bank International AG (RBI) have passed in principle a resolution to merge RZB and RBI," RBI said in a statement.

Reporting by Francois Murphy; Editing by Adrian Croft

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