Further Write-Offs at Hypo Tirol Possible

Professional ServicesBanks ♦ Published: December 5, 2011; 08:30 ♦ (Vindobona)

The Tyrolean bank could make further write-offs in 2012. Non-performing loans of € 30m in Italy are still in the books.

Further Write-Offs at Hypo Tirol Possible / Picture: © Hypo Tirol

The management of Hypo Group expects to write off a considerable part of its Italian loan business. Non-performing loans amount to € 30m. Besides this, several properties are still insecure. Last Friday, Hypo Group had to report write-offs in Italy amounting to € 120m. In 2011, total losses reach € 110m at least.

Among other projects, Hypo Tirol participates in an…