People

Austria: Hypo Managing Board Warns of Losses

Published: March 7, 2013; 17:17 · (Vindobona)

Hypo Group’s managers fear that selling the bank precipitately might lead to additional losses up to € 5bn for the bank and federal state.

Austria: Hypo Managing Board Warns of Losses / Picture: © KPMG - Pressefoto Gottwald Kranebitter

The bank was nationalized by force in December 2009. Now, the managing boards hopes for a further five years by the EU Commision for the minimization of losses. A rash selling of the bank would only lead to the destruction of value as high as € 5bn.

According to the board’s position paper, cited by the economy magazine “Format”, not only a value-destroying insolvency of…

This article includes a total of 280 words.

or Log In

Fast News Search

Join us to succeed in Vienna! Sign up to read articles for free and to get personalized updates on the events that interest you.

Austria: Hypo Managing Board Warns of Losses

Hypo Group’s managers fear that selling the bank precipitately might lead to additional losses up to € 5bn for the bank and federal state.

Join us to succeed in Vienna!
Sign up to read articles for free and to get personalized updates on the events that interest you.