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Big Exposure in Spain and Portugal
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In total, Austrian banks have an exposure of € 4.3bn in the financially stricken EU-countries Spain and Portugal.
Big Exposure in Spain and Portugal / Picture: © Vindobona.org
Among Austrian banks, KA Finanz has the largest exposure in Spain and Portugal. The nationalized bank has risky assets of about € 1.7bn, which almost consist of credit default swaps. Detailed figures are not available, as the bank declines to publish details. In total, KA Finanz has CDS of € 9.2bn. KA Finanz is the “bad bank” of Kommunalkredit, which had to be nationalized in…
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