Article Tools

Austrian Bad Bank Received Further State Aid

Published: February 6, 2014; 19:57 · (Vindobona)

The Austrian Ministry of Finance injected € 150m into KA Finanz, the bad bank of the publicly held Kommunalkredit.

Austrian Bad Bank Received Further State Aid / Picture: © Flickr

Already in December, KA Finanz received fresh money from the Austrian Ministry of Finance, the Austrian daily “Standard” reported. In return, state-backed guarantees were reduced by € 75m, according to “Standard”. The Austrian public was not informed, though.

According to the magazine, KA Finanz needed the capital injection because of the loss-making sales of credit…

This article includes a total of 227 words.

or Log In

Fast News Search