Criticism of "greed for profit"

Region gets red backing in Raika dispute

The fact that Raiffeisen wants to close a total of seven bank branches from the central region to southern Lower Austria is not being accepted without a fight in the affected region. Here are some of the critics - and why bank founder Friedrich Raiffeisen would be spinning in his grave according to them.

Following the announcement by Raiffeisen Traisen-Gölsental that it intends to close seven branches in the districts of Lilienfeld and St. Pölten, resistance is growing. As reported, the municipal representatives first mobilized against the Giebelkreuz savings plans, followed shortly afterwards by the black party youth. And now the dispute has a national political component.

"Mayor's spokesperson" Fischer (to the right of Hergovich) in front of the Raika in Hohenberg-as long as it still exists(Bild: SPÖ NÖ)

"Raika should strengthen rural areas"
SPÖ regional chairman Sven Hergovich wants to support the disgruntled citizens. "Friedrich Raiffeisen would be turning in his grave!", said the self-proclaimed regional councillor at a meeting with representatives of municipalities, pensioners and trade unions. Hergovich accuses the bank of greed: "A company like Raiffeisen, which has its roots in rural areas, must not only take from the population, but must also give services back to them."

Spokesperson and initiator of the mayors' association is Christian Fischer, SPÖ Federal Councillor and head of St. Veit an der Gölsen: "The banks are swimming in enormous excess profits due to the high interest rates. Raiffeisen alone has earned billions. Despite this, savings are being made in rural regions and the supply of cash is being further restricted. This has to stop!"