Final state aid repayment from BAWAG PSK

Austria will receive 350 million EUR owed by bank BAWAG PSK today, in the final repayment of the state aid provided to the lender during the financial crisis.

The repayment comes after further capital was provided to BAWAG PSK by shareholders in March.

Rumours that owners including investor Cerberus Capital Management are looking to sell the bank have circulated since last year, although bank bosses have denied any such sale is being explored.

In December 2013, the bank also announced it was in discussions with interested investors of the sale of its infamous headquarters, designed by renowned architect Otto Wagner and thought to be worth 150 million euros.

The lender is also one of six Austrian banks to come under supervision from the European Central Bank this year.