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Austria: State-Owned Bank to Receive Further € 200m
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Published: August 13, 2013; 12:54 ♦ (Vindobona)
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The state subsidy for bad bank of Kommunalkredit has increased to more than € 2bn.
Austria: State-Owned Bank to Receive Further € 200m / Picture: © KA Finanz AG
The Austrian state has contributed a further amount of € 200m. The capital injection was necessary because of stricter capital requirements otherwise known as Basel III. Hence, the subsidy for KA Finanz increases to more than € 2bn. In the first half of 2013, KA Finanz showed a negative result for the period in the amount of € 18.7m. However, a closing of the bank would cost €…
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