Hypo Proceedings: New Revelations

Professional ServicesBanks ♦ Published: November 2, 2010; 14:41 ♦ (Vindobona)

Both sensitive data and risk and control instruments were handled negligently.

Hypo Proceedings: New Revelations / Picture: © Hypo Alpe-Adria-Bank International AG

Last week, CEO Gottwald Kranebitter had to announce massive losses, possibly amountin to 700 million euro (982 million dollars) for this year. This figure however has not been confirmed by the bank.

Another unpleasant situation has been disclosed recently: details on 2009 borrowers were published on a website. However, it was pointed out that current customer relationships are…