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: ©

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…