High Losses for ÖVAG-subsidiary

Professional Services › Banks ♦ Published: March 4, 2011; 00:23 ♦ (Vindobona)

VBI, the subsidiary of foreign equity holding company of the Austrian Volksbanken-Group, realized losses in 2010 amounting to € 21.8m.

High Losses for ÖVAG-subsidiary / Picture: © Wikipedia / MrPanyGoff

2010 was a hard year for VBI (Volksbank International). Especially in Romania the subsidiary of the fourth biggest Austrian bank had to report significant losses. Losses after taxes amount to € 21.8m

The CEO of VBI, Friedhelm Boschert, argues that these figures contain one-time effects. The Romanian market brought several set-backs. What is more, VBI had to pay € 7.7m for the…

or Log In

Fast News Search
Related News
VBI: Purchase by Sberbank is Looming (February 24, 2011)
Bank Tax is "untimely" for ÖVAG (February 7, 2011)
Volksbank: Romania Lowers Results (January 18, 2011)
Volksbanken to Sell Share in RZB (January 17, 2011)
ÖVAG: Sales Process of East-holding is Under Way (December 30, 2010)
Russia Reaches for Volksbank International (December 15, 2010)
Read More
VBI Volksbank International AG, Romania, VBAG, Earnings, Restructuring
Featured
See latest Vindobona Newsletter