Bank Austria (BA) chief Willibald Cernko has said he plans to reduce the financial institute’s workforce level to get through the crisis. The banker announced yesterday (Mon) BA would have only 10,000 employees in Austria in 2015, 800 fewer than it had at the moment. Cernko underlined that sackings were not planned. He explained some […]
Finance Minister Maria Fekter has claimed Austria’s triple A rating is “safe” despite banks’ struggles in Eastern Europe (EE). The People’s Party (ÖVP) minister told radio station Ö1 on Saturday that she saw no imminent risk to Austria losing its top rating currently established by the world’s leading credit rating agencies. However, the minister admitted […]
People’s Party (ÖVP) Economy Minister Reinhold Mitterlehner has revealed that Austria would acquire banking stocks to save the finance institutes from ruin in the worsening economic crisis. Mitterlehner told national broadcaster ORF yesterday (Sun) that the Republic of Austria was ready to buy bank shares in a worst case scenario. Assumption of liabilities and paying […]
Rumours that Volksbank AG (ÖVAG) may be nationalised are increasing after the bank warned of immense losses. ÖVAG boss Gerald Wenzel said yesterday (Thurs) the finance institute could suffer a loss of 900 million Euros this year. He added that the losses may also be higher. ÖVAG received one billion Euros of so-called state participation […]
Styrian police are investigating after two women were approached by an exhibitionist. The man stripped in front of the females close to the banks of a reservoir outside the town of Edelschrott in Voitsberg district. He followed them as they ran away, but turned the other way when four strolling teenagers appeared yesterday evening (Weds). […]
Austrian People’s Party (ÖVP) Finance Minister Maria Fekter has emphasised that private companies should get on board to rescue Greece. The cash-strapped Eurozone and European Union (EU) member state is seen on the brink of bankruptcy by a growing number of financial market experts. Many commentators fear the southern country will be unable to pay […]
Austrian banks have a lot to lose in debt-ridden Italy, figures released today (Tues) show. Financial market authorities announced that bank institutes based in the Alpine country invested 15.8 billion Euros in the struggling Eurozone member state which borders it in the south. They pointed out that Austrian banks’ exposure in Greece – which has […]
The Austrian Social Democrats’ (SPÖ) appeal to install a European credit rating agency has found prominent support. Siemens board member Brigitte Ederer said today (Weds) she had been in favour of the idea “for many years.” The former SPÖ state secretary told radio station Ö1 that the “dominance” of US American institutions “had consequences.” Ederer […]
The Austrian economy seems to reassert itself, new figures presented by a creditors’ protection organisation show. The Creditors’ Protection Association of 1870 (KSV) said today (Weds) that 1,672 companies declared bankruptcy in the first half of this year. This is a three per cent decrease compared to the first six months of 2010, according to […]
Around one third of Austrians are using internet banking services, according to a report.The Romanian Times writes today (Fri) that 34 per cent of the countrys citizens carry out their banking business online. The online newspaper reports that a GfK survey has shown that 42 per cent of Czechs use internet banking, while just four […]