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Hypo Bad Bank Not to be Established Before 2014

Published: November 15, 2013; 11:01 · (Vindobona)

Insiders do not expect the downsizing unit for state-owned Hypo Group Alpe Adria to be established before 2014.

Hypo Bad Bank Not to be Established Before 2014 / Picture: © Hypo Alpe-Adria-Bank International AG

Bad assets in the volume of € 19bn are supposed to be placed there. According to a press release, the bank’s assets to be downsized consist of bad credits, leasing receivables and real estates for the most part.

Klaus Liebscher, head of bank’s supervisory board, announced yesterday that decisions will be made only by the new government which will be formed in December at…

This article includes a total of 467 words.

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