Sponsored Content
Bank Austria Invests in the Turnaround of its Kazakh Subsidiary
Bank Austria increases ATF’s capital in order to make it profitable. Loss in the year 2010 amounted to € 163m.
Bank Austria Invests in the Turnaround of its Kazakh Subsidiary / Picture: © Vindobona.org
Bank Austria gives a capital increase of € 198m to its loss-making Kazakh subsidiary ATF. According to Gianni Franco Papa, head of the bank’s CEE division, this amount combined with hard work will “hopefully” be sufficient to turn ATF profitable within the year 2011.
The increase, effective by the end of May, became necessary due to local supervisory requirements and will…
or Log In
Fast News Search