Austria: Negative Outlook for Banks

Politics ♦ Published: March 8, 2013; 12:10 ♦ (Vindobona)

Moody’s current analysis paints a rather bleak picture about the situation of the Austrian banking industry.

Austria: Negative Outlook for Banks / Picture: © Moody's Investors Service, Inc. - Annual Report 2013

Like in the report from 2009, Moody’s once more promises a negative outlook for the banking system. The mentioned reasons are, according to Analyst Swen Metzler, the weakening operative field in Austria, the trend of recession throughout Europe and the operative field in CESEE countries which is under hard pressure. Austria’s three biggest banks – i.e. Bank Austria, Erste Group…