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Kommunalkredit: Small Profit, Big Risks
In the first six months, the nationalized Austrian Kommunalkredit bank could generate a net income of € 16.2m. Further capital injections are likely.
Kommunalkredit: Small Profit, Big Risks / Picture: © Kommunalkredit
In the first half year, the bas bank KA Finanz could reduce assets by € 3.0bn. The dowsizing brought losses of € 50m. Without the last reserves of € 97m, KA Finanz would have registered even higher € losses.
Kommunalkredit´s CEO Alois Steinbichler warns that the bank has reached its limits. There would be no capital reserves left. As a result, further losses would bring…
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