Austria: „Lending Becomes More Expensive”

CommentOpinion ♦ Published: December 27, 2013; 22:39 ♦ (Vindobona)

In an interview with the Austrian daily “Presse”, CEO of Hypo Vorarlberg Michael Grahammer talks about the future lending conditions. The corporate sector faces a drastic increase in borrowing costs.

Austria: „Lending Becomes More Expensive” / Picture: © Hypo Landesbank Vorarlberg

In the last years, the image of the banking industry has deteriorated substantially, Grahammer admits. In general, the Austrian banking sector does not pull together, CEO of Hypo Vorarlberg suggests. Moreover, Grahammer thinks that the Austrian banking sector has lost its lobby. “We also have the problem that banks to not speak with one voice. And some banks were dependent on public…