KA Finanz Tries to Sit Out Greek Crisis

Business › n.a. ♦ Published: February 21, 2012; 20:03 ♦ (Vindobona)

The nationalized Austrian bank has an exposure of € 980m in Greece. CEO Steinbichler hopes not to participate in the haircut.

KA Finanz Tries to Sit Out Greek Crisis / Picture: © Vindobona.org

KA Finanz, the „Bad Bank“ of the nationalized Kommunalkredit, still has a high exposure in Greece. € 311m are invested in Greek sovereign bonds, € 164 in guaranteed Greek bonds and the € 505m in swaps. In total, Greek assets amount to € 980m.

Kommunalkredit now wants to analyze how many creditors participate in the haircut. According to CEO Alois Steinbichler, this…

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