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Austria/SEE: Crucial Days for Hypo Group’s Future
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Published: March 14, 2014; 09:33 ♦ (Vindobona)
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Today the supervisory board of ailing Hypo Group is gathering to determine the financial gap of Hypo Group and the amount required to complete the balance sheets for 2013. Moreover, a decision about the SEE network will have to be made.
At the SEE affiliates the danger of a bank run could emerge. / Picture: © Wikipedia / JJ55 (30 March 2008)
A major question during the supervisory’s board meeting will be how much the bank’s affiliates in South and East Europe (SEE) are worth. Currently, Hypo Group’s SEE network has a value of around one billion Euros. However, the auditors are expected to demand a value adjustment, and consequently write-offs by around one half of the amount. Together with at least € 400m in assets,…
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