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Erste Group: Delayed Redemption of State Capital
The Austrian bank will not repay the € 1.2bn of participation capital before the end of the month, probably due to the ongoing stress test.

Erste Group will most likely not be able to meet its desired deadline for an early redemption of the participation capital. The bank wanted to repay € 1.2bn to the state by the end of June. Erste was the first bank in the Alpine republic to get the non-voting state capital in 2009. The bank pays 8% interest on the capital, or € 98m per year. CEO Treichl said last month he would like…
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