Bawag May Sell Leasing Unit

Businessn.a. ♦ Published: August 23, 2012; 18:08 ♦ (Vindobona)

The Austrian lender Bawag, which is owned by the U.S. investment fund Cerberus, is said to sell its leasing business.

Bawag May Sell Leasing Unit / Picture: © BAWAG

The equity base should be strengthened, insiders report. Last year, Bawag´s tier 1 capital ratio was up to 9.6%. At the end of 2010, the ratio stood at 8.9%. The leasing unit has an exposure of € 1.6bn. Bawag´s spokeswoman Sabine Hacker did not comment.

After Bawag had to report severe losses, the Federation of Austrian Trade Unions (ÖGB) sold Bawag in 2007. Cerberus paid…

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