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Bank Austria: Sales Proceeds for Kazakh Affiliate Dropped

Published: December 2, 2013; 11:55 · (Vindobona)

Sales proceeds of Bank Austria’s Kazakh affiliate ATF Bank only came at € 294m which is significantly less than announced by the bank in the first half year.

Bank Austria: Sales Proceeds for Kazakh Affiliate Dropped / Picture: © Uni Credit Group Bank Austria

Bank Austria is facing a financial misadventure. In mid-2013, Bank Austria declared the sales revenues of Kazakh affiliate ATF Bank to come at US-$ 429m (around € 316m). However, the final sales price was determined at US-$ 400m, as published by the bank in its interim report on the third quarter. Initially, the bank expected sale revenues to come at around € 500m.

In 2007,…

This article includes a total of 199 words.

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