Hypo Group: Losses Expected to Run into Billions

People ♦ Published: March 12, 2014; 11:22 ♦ (Vindobona)

Hypo Group Alpe Adria is expected to reveal losses of around € 2bn in the balance sheet for the business year 2013. Up to now, losses in the amount of € 1.3bn were expected.

A new report by a German business consultant, commissioned by the government, showed that there are actually advantages in the case of insolvency. / Picture: © Vindobona.org

In order not to fall below the legally defined minimum capital quota a further public capital injection will be required.

Last summer alone € 1.75bn was required for completing the half-year figures. The amount, which is needed now to fill the capital gap and was caused by write-offs, can only be determined after the auditors have completed the ratings. However, the auditors…