RBI's 2024 Primary Markets Highlights: #2 Primary Dealer in Austria , new Primary Dealer for Slovenia, and Italian Covered Bonds Success Story

As we look back on 2024, RBI has achieved significant milestones in the Primary Markets, solidifying its position as a leading financial institution in central and eastern Europe. From achieving #2 Primary Dealer ranking in Austria to expanding our primary dealership into Slovenia and excelling in the Italian Covered Bonds market, RBI's strategic initiatives and collaborative efforts have paved the way for continued success. Join us as we delve into these achievements that highlight our continuous commitment to excellence and growth in the financial sector.

The debt management office of the Republic of Austria, known as Oesterreichische Bundesfinanzierungsagentur (OeBFA), closely monitors the performance of its primary dealer banks in monthly auctions for Austrian government bills and bonds, as well as turnover and liquidity for secondary market operations. This strict assessment results in an annual primary dealer ranking, which was recently published for 2024.

Thanks to a concerted effort by RBI's Trading, Sales, Treasury, and Primary Bond Markets (DCM)  teams, the bank climbed from a top 5 position in 2023 to a number 2 spot in 2024's preliminary primary dealer ranking.  This remarkable achievement positions RBI favorably for Austria's planned syndicated bonds in 2025 and further establishes the bank as a key provider of liquidity in Austrian government bills and bonds, thus enhancing cross-selling opportunities with RBI's investor base.

Starting in 2025, RBI will act as a primary dealer for government bonds in Slovenia. This strategic move is the result of efforts by the Capital Markets division's fixed income team. In early 2024, a meeting between the Primary Bond Markets and Fixed Income Trading departments, led by Harald Müller, created a detailed plan to enter the Slovenian market as a primary dealer.

By the end of 2024, RBI had met and exceeded all preconditions, leading the Ministry of Finance to sign a Primary Dealer Agreement with the bank for 2025. This role includes several rights and obligations, such as contributing to the secondary market making of Slovenian government bonds. Subject to continued strong performance, RBI may also become an eligible bookrunner for Slovenian syndicated bond issues in 2026.

This expansion into Slovenia is a natural extension of RBI's fixed income value chain offering, following its leading primary dealer roles in other Central and Eastern European (CEE) countries, including the Czech Republic, Slovakia, Hungary, Romania, and Austria.

In 2024, RBI emerged as a primary player in the distribution of Italian Covered Bonds, known as "Obbligazioni Bancarie Garantite." This accomplishment has significantly strengthened RBI's market share and recognition in the Italian Financial Institutions arena. The bank successfully lead-managed 10 out of 17 public benchmark covered bonds issued by Italian lenders, achieving the number 3 position in the league table for 2024.

RBI's expertise in placement and its deep understanding of the covered bond investor base have been acknowledged by top Italian banks, including Banco BPM, Mediobanca, Credit Agricole Italia, Banca Popolare di Sondrio, BPER Banca, ICCREA, Südtiroler Volksbank, and Banco Desio.

These achievements underscore RBI's commitment to excellence and its strategic growth in key European markets.