Former Hypo Group Alpe Adria (HGAA) head Wolfgang Kulterer has been released from custody after three months.The banker, who is accused of being responsible for massive losses suffered by the bank in Croatia and other countries in southern Europe, left Klagenfurt prison yesterday (Thurs) after a bail of 500,000 Euros was transferred to juridical authorities.Kulterers […]
Raiffeisen Bank International (RBI) is considering taking a stake in a Polish bank, it has been claimed.Business newspapers report today (Weds) that bosses of the Austrian institute, which handles Raiffeisenzentralbanks (RZB) operations in Central and Eastern Europe (CEE), are negotiating placing an offer for a stake in Polbank EFG.RBI refused to comment the reports, while […]
Works council chiefs are on high alert after new UniCredit boss Federico Ghizzoni revealed plans to save costs.The businessman, who succeeded Alessandro Profumo as chief of Italys biggest bank last month, said in an interview with Rome newspaper La Repubblica yesterday (Tues) that he wanted to “lower costs”.He also stressed: “UniCredit is a healthy bank. […]
A growing number of Austrians see no sense in saving money due to less attractive interest rates, a survey has shown.Market and opinion research company IMAS said today (Mon) 41 per cent of Austrians considered saving money as “very important”, down by eight per cent year on year.IMAS also found that Austrians save an average […]
Journalist representatives are outraged over an investigation by German prosecutors into Austrian reporters for citing from interrogation records.Munich juridical authorities decided to question profil writers Ulla Schmid and Michael Nikbakhsh Kurt Kuch from weekly magazine News after they revealed statements made by former Hypo Group Alpe Adria (HGAA) decision-makers.German state prosecutors controversially regard the Austrian […]
A Bank Austria (BA) official has revealed he was “alarmed” by the retirement of UniCredit boss Alessandro Profumo.Profumo, who announced yesterday (Tues) he would step down, has been heavily criticised for failing to prevent Libyan state bodies increase their stake in the Italian institute to 7.5 per cent.The Italian banker guaranteed UniCredits subsidiary BA it […]
Former Hypo Group Alpe Adria (HGAA) boss Wolfgang Kulterer has had his custody extended.Klagenfurt prosecutors announced today (Mon) they decided to extend the bankers detention over fears he might flee and try to cover up potential crimes previously carried out by him in connection with the near collapse of HGAA.Kulturer was arrested on 13 August. […]
Police in Austria and Serbia revealed plans to join forces in investigating alleged money-laundering activities by Serbian crooks and former Hypo Group Alpe Adria (HGAA) officials.Austrian media claimed last week ex-HGAA decision-makers cooperated with an infamous Serbian drug lord for years.Reports had it that “Balkan cocaine king” Darko Saric laundered around 100 million Euros between […]
Ailing Hypo Group Alpe Adria (HGAA) bosses have revealed plans to demand compensation from former bosses and political decision-makers.HGAA chief Gottwald Kranebitter announced today (Fri) the bank would launch legal action against ex-chiefs “in the coming weeks”. Kranebitter explained that it would focus on “those who caused damage to the bank”.The HGAA head declined to […]
Raiffeisenzentralbank (RZB) head Walter Rothensteiner has appealed to people not to “overestimate” investigations of the near collapse of Hypo Group Alpe Adria (HGAA).Rothensteiner said today (Thurs) the Austrian financial sectors reputation would not suffer because of embezzlement and fraud investigations of dozens of politicians and former bankers responsible for the actions of the bank that […]