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Horrible Loss at Hypo Group Alpe Adria

Politics ♦ Published: April 16, 2014; 19:35 ♦ (Vindobona)

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The former Balkan lender shocks with new figures. The Austrian nationalized bank had to write off wide parts of its risky assets. Further losses are likely as well as further capital injections.

New Horror Figures Coming from Hypo Group Alpe Adria / Picture: © Vindobona.org

After weeks of rumors and speculations, the nationalized lender has published the 2013 figures. Today, the 2013 balance sheet was confirmed by the supervisory board. Last year, total losses came at € 2.748bn. According to IFRS standards, total losses amounted to € 1.864bn. Both figures are dramatically above the 2012 results. In the prior year, Hypo Group Alpe Adria recorded a…