June 7, 2013 / 11:27 AM / 5 years ago

New Raiffeisen CEO gets term to mid-2017

VIENNA, June 7 (Reuters) - New Raiffeisen Bank International Chief Executive Karl Sevelda has a contract that runs until mid-2017, the Austrian bank said on Friday.

Sevelda told a news conference on the day he was named Herbert Stepic’s successor that the bank remained committed to its core central and eastern Europe region and would not exit Russia or Hungary.

He reiterated the Austrian bank’s stance that a capital increase to shore up its balance sheet was an option depending on market conditions and said it was placed to repay Austrian state aid at any time. (Reporting by Michael Shields)

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