Hypo Group Alpe Adria (HGAA) supervisory board head Johannes Ditz has said he is confident that the bank will manage to sell two affiliates. The former Austrian People’s Party (ÖVP) economy minister said today (Thurs) HGAA managed to “get rid of all possible risk factors” which could endanger a sale of its Austrian and Italian […]
Bank Austria (BA) chief Willibald Cernko has welcomed plans to create a bank bankruptcy regulation. Austrian law currently fails to feature rules which determine under which circumstances a financial institute with headquarters in the alpine country can start regulated insolvency procedures. Real economy businesses benefit from such an option on a regular basis. It is […]
A former BAWAG PSK (BAWAG) manager could take over at Volksbank AG (ÖVAG), according to reports. Business dailies claim today (Weds) that ex-BAWAG vice chief Stephan Koren – whose late father Stephan sen. served as Austrian People’s Party (ÖVP) finance minister between 1968 and 1970 – could be asked by the state to succeed Gerald […]
People’s Party (ÖVP) Finance Minister Maria Fekter has admitted that another Austrian bank may need more money. Fekter told radio Ö1 on Saturday that KA Finanz could have a demand of one billion Euros. The finance institute was created in 2008 as the bad bank of nationalised Kommunalkredit. Fekter’s statement comes shortly after her party […]
The head of Austria’s leading finance institute has shown understanding for the latest bank tax hike and confidence concerning more severe equity ratio regulations. Andreas Treichl, the CEO of Erste Bank Group AG (Erste Bank), said yesterday (Weds) he was not surprised by the government’s decision to jack up the bank solidarity charge by 25 […]
A finance institute the state rescued from ruin in 2008 is in need of more money, according to the finance minister. People’s Party (ÖVP) Finance Minister Maria Fekter admitted yesterday (Tues) that Kommunalkredit – which was nationalised shortly after the collapse of US investment bank Lehman Brothers caused a global crisis – must be funded […]
The Austrian government has decided to partly nationalise one of the country’s biggest banks. Negotiators – including People’s Party (ÖVP) Finance Minister Maria Fekter and Social Democratic (SPÖ) State Secretary Andreas Schieder – announced yesterday evening (Mon) that the state would increase the small share it was currently holding in Volksbank AG (ÖVAG) to 49 […]
Volksbank International (VBI) will continue to have its headquarters in Vienna, the vice chairman of the finance institute’s new owner has promised. Sergey Gorkov, the deputy head of Sberbank’s executive board, said today (Mon) VBI would not leave the Austrian capital. He told the Kurier newspaper the plan was to increase the number of staff […]
Russia’s leading bank has managed to significantly lower the price it pays for the international operations group of Austria’s biggest banks. Sberbank bosses agreed with Volksbank AG (ÖVAG) managers to transfer 505 million Euros for all federal branches of Volksbank International (VBI) except its ailing Romanian department. Contracts sealing the takeover were signed in Vienna […]
The head of the Austrian National Bank (OeNB) has questioned Moody’s decision to lower the outlook on the Austrian economy’s further development. OeNB Governor Ewald Nowotny said yesterday (Tues) that the government’s 27-billion-Euro budget consolidation package “is a step into the right direction”. He said the rating agency may not have considered the coalition’s measures […]