The international operations of the only Austrian bank which failed the most recent stress test on financial institutes in Europe have been taken over by Russia’s biggest bank. The contract between Volksbank AG (ÖVAG) and Sberbank was signed in Vienna yesterday (Thurs). ÖVAG and Sberbank agreed on a sale of Volksbank International (VBI) already in […]
Tag: equity
ÖVAG manages turnaround
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Volksbank AG (ÖVAG) boss Gerald Wenzel has said his bank has achieved a turnaround after some difficult years.ÖVAG suffered losses of 1.123 billion Euros after taxes last year. Wenzel announced today (Mon) the institute achieved a net turnover of 56.6 million Euros in the first nine months of this year.Wenzel said he expected ÖVAG to […]
Quanmax equity and earnings jump
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Notebook producer Quanmax has managed to raise its equity in the first three quarters of this year.The Upper Austrian company, which was formerly named Gericom, announced today (Thurs) that its equity soared from 18.1 million Euros in December 2009 to 32.7 million Euros. This amount means the firm currently has an equity ratio of 52 […]
BTV back on track after ‘difficult’ 2008
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Bosses at the Bank für Tirol und Vorarlberg (BTV) said today (Fri) the institutions profit had soared year on year in 2009 after what they described as “a very difficult 2008”.The provincial banks annual profit before taxes jumped by 2.3 per cent last year compared to 2008 figures to 51.3 million Euros.BVT increased its equity […]