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Government Support for the Hypo Group

Published: December 13, 2010; 23:21 · (Vindobona)

The Hypo Group is still far away the end of restructuring. Losses between € 700m and € 900m are expected for this year. The state gives a guarantee for 500m.

Government Support for the Hypo Group / Picture: © Reuters

Due to the still continuing real estate crisis in the Balkans, the Hypo Group receives a guarantee from the State for € 500m. The Supervisory Board of the Hypo Group nationalized last year has made a corresponding crucial decision. The guarantees are necessary to ensure that the bank does not have to sell property below the purchase price. Emergency sales at this time would…

This article includes a total of 183 words.

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