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Erste Group Bank AG shares have surged 60% this year, outperforming peers in the CEE banking sector. Despite raising the price target from EUR 52 to EUR 62, Raiffeisen Bank International AG maintains a "Hold" recommendation, citing macroeconomic uncertainties and limited potential for positive surprises ahead. The outlook suggests a sideways trend in profits until 2026, influenced by economic challenges and upcoming monetary easing.
Heinz Huber, CEO of Raiffeisen Switzerland, will resign unexpectedly to become Chairman of Graubündner Kantonalbank (GKB) in July 2025. Christian Poerschke will serve as interim CEO starting January 1, 2025, as the bank seeks both internal and external successors. Huber's tenure at Raiffeisen saw significant growth despite challenges, including a scandal that impacted the bank's reputation.
A protocol of agreement was signed today, establishing a collective bargaining framework for managers in the RIPS network, aimed at enhancing the character of Raiffeisenkassen within cooperative banks. This marks the first economic adjustment since 2013 and aligns with the national collective agreement. Both negotiating parties expressed satisfaction with the outcome.
Raiffeisen banking group faces significant risks due to its Russian operations and loans to René Benko's SIGNA, with potential total losses threatening its stability. The European Central Bank is closely monitoring the situation, fearing a chain reaction that could impact regional banks. Sanctions from the US and the possibility of Russian nationalization further complicate the bank's future, as it struggles to transfer trapped profits from its Russian subsidiary.
Raiffeisen Bank International (RBI) closed at EUR 20.07 on December 16, reflecting a slight decline of 0.94% but a notable monthly increase of 10.41%. With a market capitalization of EUR 6.6 billion, the bank boasts a dividend of EUR 1.25 for 2024 and a price/earnings ratio of 2.77, alongside a strong annual performance of 23.50%. A recent analysis urges shareholders to consider their next steps regarding buying or selling shares.
Bybit is pursuing a Markets in Crypto-Assets Regulation (MiCAR) license in Austria to enhance compliance with European standards and user protection. In the interim, the exchange has temporarily ceased communication with the EEA region to avoid breaching reverse solicitation rules, while ensuring existing customers retain access to their assets. Once licensed, Bybit aims to fully engage with EEA clients, reinforcing its commitment to a compliant and secure trading environment.
Bybit, the second-largest cryptocurrency exchange, is temporarily adjusting its operations in the European Economic Area (EEA) to ensure compliance with evolving regulations. The company is pursuing a Markets in Crypto-Assets Regulation (MiCAR) license in Austria, aiming to enhance user protection and maintain a secure trading environment. Existing customers can still access their crypto assets while Bybit focuses on obtaining the necessary licenses to resume full operations in the region.
Bitpanda has secured in-principle approval from the Virtual Asset Regulatory Authority (VARA) to expand into the UAE, positioning Dubai as a strategic hub for its international growth. The approval indicates compliance with regulatory standards, although further conditions must be met for full operational licensing. Additionally, Bitpanda has partnered with Societe Generale to promote the adoption of its euro-denominated stablecoin, EUR CoinVertible, as a key element of global finance.
KTM boss Stefan Pierer, alongside Red Bull heir Mark Mateschitz and Raiffeisen Oberösterreich, is nearing the completion of the Rosenbauer takeover, acquiring 50.1% of shares. While competition authority approvals are pending in four Arab countries, a public anticipatory mandatory offer at EUR 35 per share is set for January 2025.
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