Hypo Group Alpe Adria: Massive Losses in Italy

Professional ServicesBanks ♦ Published: April 11, 2014; 20:48 ♦ (Vindobona)

Last year, the distressed Austrian lender recorded losses in the amount of € 2.7bn. In Italy, losses were highest.

Hypo Group: Disaster in Italy / Picture: © Vindobona.org

According to the Austrian daily “Standard”, the Italian affiliate of the nationalized Austrian bank had to write off € 540m. Both the banking and the leasing unit suffered enormous losses. In total, Hypo Group´s affiliates registered losses amounting to € 2.7bn. The consolidated losses at group level reached € 1.9bn.

The Balkan lender was nationalized in 2009. Since…