Article Tools

Hypo Group: Fatal Errors of Austrian National Bank

Published: December 30, 2013; 19:41 · (Vindobona)

Before Hypo Group Alpe Adria was nationalized in late 2009, the Austrian National Bank (OeNB) has misjudged the situation of the problem bank completely. The Austrian government demonstrates its incompetence once again.

Hypo Group: Fatal Errors of Austrian National Bank / Picture: © OeNB

At the end of 2008, the Austrian National Bank assumed that Hypo Group can be “restructured without any major problems”. In a report published by the Austrian magazine profil, OeNB wrote that Hypo Group Alpe Adria will generate a net income of € 225m in 2009. In that year, Hypo Group´s losses totaled € 1.55bn.

On the occasion of the the nationalization in December 2009,…

This article includes a total of 501 words.

or Log In

Fast News Search
Related News
Hypo Group: „The Wrong Decisions were Made“ (December 28, 2013)
Austria: „Lending Becomes More Expensive” (December 27, 2013)
Austria Bought Time for Examining Hypo Deal (December 23, 2013)
Austria: Bank Rescue Massive Burden for Public Finance (December 21, 2013)
Rothensteiner: Austrian Sovereign Debt Rating Includes Bank Bail-Out (December 20, 2013)
Read More
Hypo Group Alpe Adria, NPL Non Performing Loans, Nationalization, Banking Industry, Lending, M & A, OeNB Austrian National Bank
Featured
Updated Directory of Foreign Ambassadors in Austria 2018
List of National Days of the home countries of all foreign Missions and Delegations in Vienna, Austria
See latest Vindobona Newsletter