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Capital Needs of Austrian Banks Total € 4bn

Published: November 3, 2011; 15:21 · (Vindobona)

The increase is mainly a result of Erste Group’s third quarter loss, according to OeNB’s Executive Director Andreas Ittner.

Capital Needs of Austrian Banks Total € 4bn / Picture: ©

The capital needs of Austrian banks as of the end of September amount to approximately € 4bn, rather than the € 2.9bn calculated by the European Banking Authority (EBA) based on June’s figures. Andreas Ittner, Executive Director of the Austrian National Bank (OeNB) said that € 4bn were a fair estimate. Main reason for the divergence was Erste Group’s massive quarterly loss,…

This article includes a total of 167 words.

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