Hypo Group Alpe Adria: Fitch Recommends “Joint Bad Bank”

Politics ♦ Published: February 5, 2014; 18:22 ♦ (Vindobona)

According to the rating agency, the best alternative is a joint solution between the Austrian state and privately held banks. In return, the bank levy should be reduced, Fitch says.

Hypo Group Alpe Adria: Fitch Recommends “Joint Bad Bank” / Picture: © Hypo Alpe-Adria-Bank International AG

In the years between 2000 and 2008, the lender has pursued an aggressive growth strategy in the Balkan region. In order to prevent Hypo Group´s unorderly bankruptcy, the bank was nationalized in 2009 by the Republic of Austria. In the past four years, the Austrian state has injected € 4.8bn into the problem bank. Nevertheless, the Austrian government still has no sustainable concept…

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