Hypo Group to Shut Down Subsidiaries in Italy

People ♦ Published: May 6, 2014; 17:49 ♦ (Vindobona)

Until the end of this year five subsidiaries in Italy will be closed.

Hypo Group Italy is facing stormy weathers. / Picture: © Vindobona.org

The closing of five out of 30 subsidiaries in North Italy were decided on as a consequence of the difficult market situation in Italy. In the coming years Hypo Alpe Adria Italia intends to continue with its restructuring measures in order to make the bank attractive for investors, as announced by the bank.

On Monday, the shareholder’s meeting of Hypo Alpe Adria Italia replaced…