Raiffeisen Bank Reports Its First Loss in Nearly a Decade Due to Surge in Provisions

In a surprising turn of events, Raiffeisen Bank has reported its first financial loss in nine years, primarily attributed to a significant increase in provisions for loan losses. The Austrian banking giant disclosed this troubling news on Sunday, shedding light on the increased financial pressures that led to a net loss of €129 million ($139 million) in 2023.

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