Hypo Group: Cash Contributions Come at € 500m

Businessn.a. ♦ Published: November 14, 2012; 20:43 ♦ (Vindobona)

The Austrian state has to inject another € 500m in the financially stricken nationalized bank. Furthermore, guarantees will increase by € 1.0bn.

Hypo Group: Cash Contributions Come at € 500m / Picture: © Wikipedia / JJ55 (30 March 2008)

As reported by Vindobona, Hypo Group´s capital shortfall comes at € 2.2bn. The Austrian Financial Market Authority and OeNB (Austrian National Bank) calculated the equity requirement of Hypo Group in summer. Next year, Hypo Group must achieve an equity quota of 12.04%.

Now, the Finance Ministry officially confirmed that cash contributions will reach € 500m. The money will be…