Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.19 - Other monetary intermediation

200 jobs
Number of planned job losses
Job loss
Announcement Date
13 January 2012
Employment effect (start)
13 January 2012
Foreseen end date
31 January 2012


Raiffeisen Bank has announced the closure of 10 branches and the dismissal of around 200 employees in Hungary. Raiffeisen had 141 branches and has taken the decision to reorganize and rationalize its activities. Reasons for the restructuring according to the bank's announcement were the consequences of the economic and financial crises, narrowing incomes, a new system of redemption with relapsing lending and the new taxation system (see here).

Given that the bank will continue with its rationalization process throughout 2012, further job cuts might be implemented, as the bank has booked EUR 300 million losses in 2011.

However, Raiffeisen has confirmed that it will not exit the Hungarian market.


  • 13 December 2011: Heti Világ Gazdaság
  • 13 December 2011: Menedzsment Fórum
  • 13 December 2011: Index


Eurofound (2012), Raiffeisen Bank, Internal restructuring in Hungary, factsheet number 72986, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72986.