Austrian Banking Sector: € 35bn NPL

Businessn.a. ♦ Published: December 9, 2013; 06:25 ♦ (Vindobona)

Due to the gloomy economic situation in CESEE and the stagnating domestic economy, Austrian banks suffer from growing non-performing loans.

Austrian Banking Sector: € 35bn NPL / Picture: ©

Since 2008, the asset quality of Austrian banks did not improve. Above all, the situation in some CESEE regions is still concerning. Besides that, an increase in insolvencies in Austria does not contribute to improve the frame conditions for the banking industry. With the bankruptcy of FCC´s subsidiary Alpine, the Austrian banking sector had to absorb the biggest insolvency in their…