Hypo Group: “Acutely Gaping Capital Hole“

People ♦ Published: March 21, 2014; 11:05 ♦ (Vindobona)

In a compulsory notification published on Friday morning, Hypo Group Alpe Adria has reported about an “acutely gaping capital hole” which has to be covered by the Austrian Federation.

Hypo Group Alpe Adria will require a state backing for the annual accounts 2013. / Picture: © Vindobona.org

In the coming hours the detailed figures of the capital need is supposed to be published. In an ad-hoc announcement, the bank reported about further devaluations which became imminent for the completion of the balance sheets of 2013. By this “the regulatory capital ratios will drop significantly below the regulatory minimum,” according to the bank.

Therefore, Hypo Group Alpe…