Hypo Group Further Losses to Be Expected

People ♦ Published: April 30, 2014; 13:43 ♦ (Vindobona)

Huge losses by the sale of the SEE banking network could be expected.

Further billions of Euros for Hypo Group are expected to go down the drain. / Picture: © Vindobona.org

It is still not clear if the downsizing unit for ailing Hypo Group will be fully established by September this year since a respective law is not in sight yet. Assets in the volume of € 17.8bn are supposed to be transferred to the the bad bank. Until then the capital, which was recently increased by the Austrian Federation (taxpayers), is supposed to suffice, according to the bank’s…