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Hypo Group: Disastrous Losses Revealed
Huge write-offs and value adjustments have sent losses of nationalized problem Hypo Group Alpe Adria soaring. Losses running into the billions are expected.

According to preliminary data, net losses of around € 1.9bn are expected in the business year 2013. The single company accounts show losses of around € 2.7bn, which was published by the bank in an ad-hoc announcement. The final figures will be published after the supervisory board meeting on April 16.
By the decision of the general meeting on Wednesday, about the Austrian…
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