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Austria: Bawag to Pay Off Further State Capital
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Published: November 13, 2013; 11:07 ♦ (Vindobona)
Today CEO Byron Haynes announced that Bawag will pay back a further tranche of the bank state aid injected in 2009.
Austria: Bawag to Pay Off Further State Capital / Picture: © Vindobona.org
The next tranch will be amortized in December. In June the bank has started paying off the first tranche in the volume of € 50m of a total of € 550m in state capital. According to the bank it became possible by making the capital available internally. In October, the rest of a risky structured credit portfolio worth more than € 3bn was sold which is why risk weighted assets in the…
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