Hypo Group: € 1.43bn Required This Year

Professional ServicesBanks ♦ Published: March 21, 2014; 14:33 ♦ (Vindobona)

A total capital need of € 1.43bn is forecast by the ailing bank.

Hypo Group will require more capital than planned. / Picture: © Vindobona.org

Today the bank has informed the Finance Ministry about the results of the negotiations and its forecast in capital requirements for the current year. Finance Minister Michael Spindelegger had planned a total of one billion Euros in this year’s budget. However, the ailing bank will require more than that.

In an official statement, the bank announced requiring a total amount of…