Herbert Stepic, the chief executive officer of Raiffeisen Bank International, had offered his resignation to the organization after he came under increasing scrutiny for his personal investment in Asian real estate. He is the longest serving executive serving in banking sector in Austria and is a part of Austria's one of the largest lenders in Banking industry.

European Central Bank (ECB) President has pushed for a 'more European UK' in his latest speech.

In his latest statements, ECB President Mr. Mario Draghi suggested making of a new agency to especially help the troubled banks from putting any burdens over the governments through their bailout costs.

IFC declared a contract with Oesterreichische Entwicklungsbank (OeEB), the Development Bank of Austria to hike up the sustainable energy investment in Sub-Saharan Africa initiating with the countries of Kenya, Tanzania, Uganda and Rwanda.

As per recent reports, it has been revealed that there are fewer chances that Hypo Alpe-Adria-Bank International AG will undergo 16 billion-euro insolvency.

It has been said so as Austria Government is having good links with the Commission. Therefore, there are chances that the Hypo Alpe-Adria-Bank International AG will require to undergo the same, revealed the central bank of Austria.