June 26, 2013 / 6:57 AM / in 4 years

Raiffeisen not rushed to match Erste capital move-CEO

VIENNA, June 26 (Reuters) - Raiffeisen Bank International is in no rush to repay Austrian state aid despite rival Erste Group’s push to pay back the capital with the help of a rights issue, RBI Chief Executive Karl Sevelda told a newspaper.

“We will repay the participation capital in tranches or in one go,” the Wirtschaftsblatt paper quoted him as saying in an interview printed on Wednesday.

“We have time until 2017 for this,” he said, reiterating that a capital increase remained an option for the bank.

The Raiffeisen group raised around 2.5 billion euros ($3.27 billion) in non-voting participation capital after the financial crisis broke out, of which 1.75 billion came from the state and the rest from private investors.

Erste Group Bank on Monday said it would repay in the third quarter 1.76 billion euros in participation capital and raise about 660 million euros via a rights issue.

$1 = 0.7649 euros Reporting by Michael Shields; editing by Georgina Prodhan

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