Erste Group is Holding Repayment of Public Funds

Politics ♦ Published: November 30, 2010; 19:39 ♦ (Vindobona)

The participation capital granted by the State following the bank crisis will only be paid back by the Erste Group after specifications of Basel III are set.

The Erste Group received in 2009 a capital participation of € 1.2 billion from the State. These funds are however subject to interest as soon as profits are made. Only a few months ago, the CEO of the Erste Group, Andreas Treichl, said that the bank would pay back the funds still in 2011.

The Erste Group will now determine when and how much they will repay only after the…

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