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Kommunalkredit: More Costly than Hypo Group

Published: February 9, 2012; 16:22 · (Vindobona)

The Austrian state had to made expenses of € 4.65bn for the nationalized Kommunalkredit. In total, the bank package´s volume reaches € 11bn.

Kommunalkredit: More Costly than Hypo Group / Picture: © Kommunalkredit

Investments by the Austrian state in Kommunalkredit total € 4.65bn. More precisely, the real cost factor is KA Finanz, the “bad bank” of Kommunalkredit. As a result, expenses are substantially higher compared to those of Hypo Group, which has been nationalized in 2009. Expenses totaled € 1.55bn for Hypo Group, which has been acquired from Germany BayernLB. Kommunalkredit was…

This article includes a total of 243 words.

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