Ailing Hypo Group Alpe Adria (HGAA) bosses have revealed plans to demand compensation from former bosses and political decision-makers.HGAA chief Gottwald Kranebitter announced today (Fri) the bank would launch legal action against ex-chiefs “in the coming weeks”. Kranebitter explained that it would focus on “those who caused damage to the bank”.The HGAA head declined to […]
Raiffeisenzentralbank (RZB) head Walter Rothensteiner has appealed to people not to “overestimate” investigations of the near collapse of Hypo Group Alpe Adria (HGAA).Rothensteiner said today (Thurs) the Austrian financial sectors reputation would not suffer because of embezzlement and fraud investigations of dozens of politicians and former bankers responsible for the actions of the bank that […]
A Northern Irish property firm is set to build a new shopping centre an hours drive from Austria after getting a multi-million Euro loan from Erste Banks Slovenska sporitelna.British media report today (Fri) that the Slovakian subsidiary of Vienna-headquartered Erste Bank teamed up with VUB bank a Slovakian competitor owned by Italys Intesa Sanpaolo […]
Hungary is “playing with fire,” Raiffeisenzentralbank (RZB) boss Walter Rothensteiner has warned as the country plans to go ahead with introducing a bank tax.Hungarian Fidesz National Economy Minister György Matolcsy said after meeting with Austrian Peoples Party (ÖVP) Economy Minister Reinhold Mitterlehner today (Mon) his party would press on with setting up the controversial tax.The […]
More than seven in ten are in support of the introduction of a tax on assets, a new study has found.Public opinion research agency Karmasin has found that 72 per cent of Austrians backed the possible new tax, while only 18 per cent rate the suggestion a “bad idea”.This result revealed by a poll […]
Hannes Androsch has claimed US investor Cerberus Capital Management is considering leaving Austrian BAWAG PSK soon.The Former Social Democratic (SPÖ) finance minister said at a business event last night (Tues) it was possible that the American bank house withdrew its engagement “in the foreseeable future”.Cerberus however is committed to remain on board for at least […]
Volksbank AG (ÖVAG) reports good business figures for the first quarter of this year after suffering dramatic losses in 2009.ÖVAG chief Gerald Wenzel said today (Fri) earnings before interest and taxes (Ebit) soared to 21.6 million Euros after the bank had losses of 93.4 million Euros in the first three months of last year.He added […]
Banca Comerciala Romana (BCR) CEO Dominic Bruynseels has appealed to Romanian leaders to increase their efforts to fight black market activities.The former Barclays Bank official said yesterday (Weds) the mortgage sector was “still at risk” due to the current situation in the Eastern European country which has been badly hit by the economic crisis. He […]
The chiefs of Austrias biggest banks ensured they would not reduce investments in financially struggling Greece.Raiffeisenzentralbank (RZB) boss Walter Rothensteiner said after a meeting with the heads of Austrias other four major banks and Peoples Party (ÖVP) Finance Minister: “We will not speculate against Greece, and we wont reduce our investments in the country.”Austrian banks […]
Romanian bank Banca Transilvania (BT) is going to list on the Vienna Stock Exchange (WBAG) after shareholders’ approval of the move.BT, listed on the Bucharest exchange since 1997, said today (Fri) the decision to list on the WBAG would make the company “more visible and more attractive to foreign investors.”Horia Ciorcila was re-elected president of […]