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Austria: VBAG May Require Further State Aid
Politics ♦
Published: December 20, 2013; 13:43 ♦ (Vindobona)
Partially nationalized VBAG is expected to post losses of more than € 200m.
Austria: VBAG May Require Further State Aid / Picture: © Vindobona.org
The reason for the losses are write offs in participations, among them in the Romanian banking sector, real estate and a stake in RZB (Raiffeisen Zentralbank) which is why the bank may require further state aids. Last year losses after write-offs of non-performing loans came at € 131m. This year’s losses will once again negatively affect the core capital quota. According to reports…
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