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Austrian Bad Bank Received Further State Aid
Politics ♦
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.

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…
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