Hypo-Group Restructuring to be Completed by 2012

Professional Services › Banks ♦ Published: March 31, 2011; 01:44 ♦ (Vindobona)

The bank that was emergency nationalized in 2009 suffered a loss of about € 1.06bn in 2010. The current year should end up balanced.

Hypo-Group Restructuring to be Completed by 2012 / Picture: © Wikipedia / JJ55 (30 March 2008)

Despite the heavy losses suffered by the Hypo Group in the previous year, the restructuring program is on schedule. CEO Gottwald Kranebitter still aims for a balanced 2011 and for positive results next year. Kranebitter considers that the company is on the right track. The massive outflow of customers could be arrested, and deposits recently grew again by € 500m.

The downsizing…

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Banking Industry, CESEE, Hypo Group Alpe Adria, Earnings, Restructuring, Gottwald Kranebitter
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