Hypo Group Needs Even More Money

Politics ♦ Published: July 21, 2013; 20:38 ♦ (Vindobona)

The nationalized Austrian bank needs fresh funds of more than € 700m. For the Austrian taxpayers, the banking package becomes more and more costly.

Hypo Group Needs Even More Money / Picture: © Wikipedia / JJ55 (30 March 2008)

 

In December 2009, German BayernLB sold Hypo Group to the Austrian state. Hypo Group has started a rapid expansion into the SEE region after 2000. However, the banking group´s lending policy was everything but successful. According to insiders, Hypo Group´s NPL size may reach more than € 12bn. In the last five years, Hypo Group´s total losses came at €…

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