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…

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Budget Deficit, WIFO Austrian Institute of Economic Research, Margit Schratzenstaller, Andreas Schieder, Werner Faymann, Leaders, Earnings, Banking Industry, Hypo Group Alpe Adria, Public Debts, Michael Spindelegger, Downsizing, Bankruptcy, Restructuring, Insolvencies, Fiscal Policy, Nationalization, Privatizations
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