Hypo Group Alpe Adria: „Bad Bank Will Come“

People ♦ Published: January 4, 2014; 17:57 ♦ (Vindobona)

Klaus Liebscher, chairman of Hypo Group´s supervisory board, underlines that a bad bank will be established for the nationalized lender. Nevertheless, the bank remains the biggest financial disaster in Austria´s history.

Hypo Group Alpe Adria: „Bad Bank Will Come“ / Picture: © Das Rudolfinerhaus

In order to shift risky assets away from the economically sound part of Hypo Group, there will be a downsizing unit, Klaus Liebscher said in an interview with the Austrian daily “Presse”. In total, non-performing loans of € 18bn will be transferred to the downsizing unit. However, there are still some unsolved questions, he added. Until the end of 2014, a solution will be…