RBI Annual General Meeting approves all agenda items (press release):
The Annual General Meeting (AGM) of Raiffeisen Bank International AG (RBI) for the financial year 2015 took place at the Austria Center Vienna today amid great public interest.
Before the Management Board reported on the 2015 financial year, Karl Sevelda, CEO of RBI, took time to make a short statement regarding the examination of a merger of RBI with Raiffeisen Zentralbank Österreich AG, for which there has been no official decision taken as of yet. “I can assure you, that we will bear in mind the interests of all shareholder groups. Increasing the value of the company is our company target and will of course be a criterion here. We are currently in an intensive examination phase, which should foreseeably be completed by the end of September. We are therefore unfortunately not in a position to give any definite answers,” noted Karl Sevelda in his speech before the present shareholders. Nothing would change regarding RBI’s stock exchange listing.
The AGM approved all of the proposed resolutions relating to the individual agenda items. The Chairman of the Supervisory Board, Walter Rothensteiner, was reelected to the Supervisory Board until the close of the AGM which will grant a discharge of the financial year 2020.
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The neutral nominal rate in Romania has been falling since the start of inflation targeting in 2005. The Taylor Rule clearly shows that interest rates peaked in 2022 and have been on a clear downward path ever since.Furthermore, the model estimates a long-term neutral nominal rate of around 3.9%, which is the equivalent of approx. 1.4% real.Using a more sophisticated model (i.e. New York FED’S HLW model), the real neutral interest rate in Romania is estimated currently at around 1.5% (1.7% 2023 average) and the historical mean at 1.2%.This implies a neutral nominal rate between 4.00% and 4.50%. In the past decade, the NBR real effective rate was below the neutral rate and only over the past year climbed above the neutral mark.Source: Erste Bank
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