Raiffeisen Bank opens in Hong Kong

Will focus on trade and corporate finance solutions.

Austrian banking group Raiffeisen Bank International AG opened its first Hong Kong branch yesterday.

The move is the latest by RBI to cope with the increasing demand from clients in Austria and Central and Eastern Europe (CEE) for institutional banking and financing services, particularly from clients planning to increase their presence or set up operations in Hong Kong as part of their Greater China strategy.

General Manager of RBI Hong Kong Branch, Edmond Wong, said that compared to other Asian cities, Hong Kong has strong strategic integration with and geographical proximity to Mainland China, which is a prime target market for many of its customers.

The Hong Kong branch, jointly with RBI’s Beijing and Xiamen branches, will form a comprehensive banking platform in the Greater China region.

Through its presence in Hong Kong, RBI will build a new local customer base and reinforce services for its customers from around the globe.

In CEE, RBI operates an extensive network of subsidiary banks, leasing companies and a range of other specialized financial service providers in 17 markets. RBI is the only Austrian bank with a presence in both the world's financial centers and in Asia.