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Hypo Alpe Adria Needs More Time to Build Up Capital
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The Carinthian nationalized bank will not be able to meet the prescribed capital ratios by March 2012. Management and authorities are negotiating an extension of the deadline.
Hypo Alpe Adria Needs More Time to Build Up Capital / Picture: © Hypo Alpe-Adria-Bank International AG
Gottwald Kranebitter, CEO of state-owned Hypo Alpe Adria, has confirmed that the bank needs additional time in order fulfill the new requirements regarding equity capital and risk buffers. The Financial Market Authority (FMA) had given a deadline until March 2012.
“We would not have been nationalized if we had already been able to cover the capital shortfall”, Kranebitter…
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