Director General of Erste Group Bank, present in Romania through BCR, said Eastern Europe has gone over the toughest EFCT of sovereign debt crisis in the euro area Bloomberg.
"I do not expect to worsen the situation, but it is pretty bad at the moment. Mainly because credit growth is relatively weak for now, understandably in that general feeling that hit Europe also affected Central and Eastern Europe" said Treichl in an interview with Bloomberg in Alpbach, Austria.
He added that margins and returns that can be achieved in Central and Eastern Europe are significantly better than in Western Europe.
"The total efficiency of banks in those markets is much better than at home," added the head of Erste.
Eastern Europe can "hope for growth," he added.
"We have a fantastic - subpenetrate banking markets, people with incomes significantly lower than in Eastern Europe, but much more productive," he stated Treichl, referring to Eastern Europe.
He described the Russian Sberbank group entry in the region as a "good sign" because it shows that Russians "believe in the future of the region". Sberbank has taken over operations of Volksbank International, with the exception of Romania, who remained in the Austrian portfolio.
"I do not expect to worsen the situation, but it is pretty bad at the moment. Mainly because credit growth is relatively weak for now, understandably in that general feeling that hit Europe also affected Central and Eastern Europe" said Treichl in an interview with Bloomberg in Alpbach, Austria.
He added that margins and returns that can be achieved in Central and Eastern Europe are significantly better than in Western Europe.
"The total efficiency of banks in those markets is much better than at home," added the head of Erste.
Eastern Europe can "hope for growth," he added.
"We have a fantastic - subpenetrate banking markets, people with incomes significantly lower than in Eastern Europe, but much more productive," he stated Treichl, referring to Eastern Europe.
He described the Russian Sberbank group entry in the region as a "good sign" because it shows that Russians "believe in the future of the region". Sberbank has taken over operations of Volksbank International, with the exception of Romania, who remained in the Austrian portfolio.
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