Hypo to Require € 1bn This Year

Politics ♦ Published: May 17, 2013; 10:23 ♦ (Vindobona)

The ailing banking institute Hypo Group in the province of Carinthia will need € 1bn. On Friday, the managing board of Hypo Group will present a restructuring plan to the Finance Minister.

Hypo to Require € 1bn This Year / Picture: © European Commission

The central points of the concept presented by Hypo Group’s managing board to Finance Minister Maria Fekter today excludes setting a deadline for the selling of the CESEE affiliates but offers the withdrawal from business. However, the heas of the bank reject the establishing of a bad bank. Fekters’s officials have to work out a restructuring plan until the end of May which is…