KA Finanz: Capital Shortfall to Become Bigger

Politics ♦ Published: November 24, 2012; 18:06 ♦ (Vindobona)

The financially stricken bank is expected to need further cash contributions.

KA Finanz: Capital Shortfall to Become Bigger / Picture: © Vindobona.org

Next year, the Austrian state plans to inject € 250m into KA Finanz, the bad bank of Kommunalkredit. Kommunalkredit was nationalized in 2008. This year, capital injections came at € 1.3bn. In total, Austrian taxpayers invested € 2.4bn in KA Finanz. The Austrian Audit Court fears that KA Finanz will depend on taxpayers´ funds for years. The Audit Court criticizes that the…

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