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Hypo Group: Cash Contributions Come at € 500m
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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…
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