FIMBAG boss Klaus Liebscher has admitted uncertainties regarding whether the state will ever again see any of its Volksbank AG (ÖVAG) participation capital. Liebscher told radio station Ö1 today (Thurs) it was impossible to make a definitive statement regarding the issue. He admitted that it was unlikely that the more than one billion Euros would […]
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) 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 […]
A kindergarten in Vienna has decided to shut the door on Nikolaus.Michaela Müller-Wenzel of the the Kinderfreunde kindergarten in Favoriten district said today (Thurs) that they had agreed that Saint Nicolas will only wander through its garden while the children wave to him from inside.Speaking to Viennese daily Heute, Müller-Wenzel said she and her colleagues […]
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 […]
Volksbank bosses have denied reports the bank faces nationalisation as losses soared dramatically last year.Volksbank AG (ÖVAG) chief Gerald Wenzel said the search for a strategic partner was ongoing in the banks bid to pay back the millions of state aid it received over the past few months to get through the economic crisis.Wenzel refused […]