Hypo Tirol Withdraws from Italy

Professional ServicesBanks ♦ Published: February 23, 2012; 19:09 ♦ (Vindobona)

The Tyrolean regional bank decided in favor of a downsizing strategy. The Italian market should be served through Innsbruck.

Hypo Tirol Withdraws from Italy / Picture: © Hypo Tirol

The regional bank, which is fully owned by the province of Tyrol, will re-focus on the core market. In Italy, the downsizing strategy will be implemented. Only those branches, which may be served through the headquarters in Innsbruck, will be maintained.

Hypo Tirol began its business in Italy in June 2009. It is not clear whether the concerned branches will be closed. In December…