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 […]
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 […]
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 […]
Volksbank AG (ÖVAG) bosses and Sberbank chiefs will sign contracts about the planned takeover of Volksbank International (VBI) later this week, according to Austrian business papers. Reports from today (Mon) have it that the struggling Austrian bank eventually agreed with the Moscow-based finance sector giant about a takeover price for VBI. Sberbank declared interest in […]
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 […]
Former Peoples Party (ÖVP) boss Josef Pröll is to head an internationally operating agricultural company.The Lower Austrian-Viennese branch of Raiffeisen Austrias biggest private employer announced yesterday (Weds) that the ex-finance minister will take over at its affiliate Leipnik-Lundenburger Invest Beteiligungs AG (LLI) next month. Pröll agreed with supervisory board officials on a five-year […]
Barbara Schwarz succeeds Johanna Mikl-Leitner as Lower Austrian Peoples Party (ÖVP) councillor.Schwarz mayor of the town of Dürnstein takes over her fellow party members agendas as of now, it was announced today (Tues).ÖVP Foreign Minister Michael Spindelegger said earlier this month Mikl-Leitner will succeed Maria Fekter as federal interior minister days after he […]
Peoples Party (ÖVP) Finance Minister Josef Pröll has stressed Austria was “in full support” of the United Nations (UN) and European Unions (EU) strategy over possible sanctions against Iran as he arrived for a three-day visit in Israel yesterday (Weds).Pröll also said discussing strategies how to fight the effects of the economic crisis was the […]