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Fekter Does Not Exclude Further Bank Aids Anymore

Published: August 23, 2012; 19:26 · (Vindobona)

Austria´s Finance Minister Maria Fekter admits that the three nationalized banks Hypo Group and Kommunalkredit/KA Finanz may need further capital injections. In the past, Fekter denied the need of further bank aids.

Fekter Does Not Exclude Further Bank Aids Anymore / Picture: © Wikipedia / World Economic Forum (Heinz Tesarek)

According to Maria Fekter, bank aids for the wholly nationalized banks Hypo Group Alpe Adria and Kommunalkredit/KA Finanz could be necessary. Regarding VBAG, which was partly nationalized in March, further aids are no issue, Fekter says.

At the moment, the Hypo Group has a risky exposure of more than € 10bn. The capital shortfall may reach up to € 5.0bn, insiders say. In the…

This article includes a total of 445 words.

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