Erste Group´s CEO: „The Situation is Serious“

People ♦ Published: October 1, 2011; 22:31 ♦ (Vindobona)

Andreas Treichl, CEO of the Austrian Erste Group considers to delay the repayment of the Bank Aid.

Erste Group´s CEO: „The Situation is Serious“ / Picture: ©

For Treichl, the repayment of the bank aid depends on the acknowledgement of the bank supervision. Erste Group closely cooperates with the Austrian “Sparkassen” segment. But Erste Group does not own all shares. According to Basel III, minority ownerships must not be added fully to the own equity base. The bank supervision announced that there will be no exclusion for Erste Group.…