Hypo Group: Losses Expected to Run into Billions
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…
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