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Austrian Bad Bank Received Further State Aid
Politics ♦
Published: February 6, 2014; 19:57 ♦ (Vindobona)
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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: © Vindobona.org
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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