Bank Aid Package is a Loss for Austria

Politics ♦ Published: September 7, 2011; 20:17 ♦ (Vindobona)

For the Austrian Republic, the recapitalization measures for Austrian business banks is a losing deal. Losses amount to € 237m.

Bank Aid Package is a Loss for Austria / Picture: © Vindobona.org

This is the result from the report of the bank package. The Hypo Alpe Adria Group and the Kommunalkredit are the driving factors for the situation. But also the missing dividend payment from the Volksbanken AG (ÖVAG) induced losses.

The Ministry of Finance invested € 9.0bn for recapitalization measures in 2009 in order to provide funds for the Austrian business banks. The…

or Log In

Fast News Search
Related News
Hypo Alpe Adria: FMA Sees Capital Requirement of € 1.5bn (September 2, 2011)
RZB Reports Significant Increase in Profit (August 30, 2011)
Erste Group: Delayed Redemption of State Capital (June 24, 2011)
Erste’s Treichl Says Politicians ‘Cowardly’ on Basel III Rules (May 16, 2011)
ÖVAG Participates in the Stress Test (April 8, 2011)
Read More
Hypo Group Alpe Adria, Erste Group, RZB Raiffeisen Zentralbank, VBAG, Bank Aids, BMF - Federal Ministry of Finance - Bundesministerium für Finanzen, Funding
Featured
See latest Vindobona Newsletter