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Kommunalkredit´s KA Finanz Needs New Guarantees
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Published: August 6, 2012; 19:45 ♦ (Vindobona)
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Because of its exposure in Greece, the nationalized Austrian lender needs further guarantees from the Austrian state.
Kommunalkredit´s KA Finanz Needs New Guarantees / Picture: © Vindobona.org
At the moment, the bad bank of Kommunalkredit KA Finanz still has an exposure of € 297.1m in Greece. For KA Finanz, a Greek exit is a substantial risk factor. As guarantees for the exposure only come at € 243.3m, further guarantees of € 59.3m are required. In Greece, KA Finanz has already written off 70% of its assets.
The bad bank still has a remarkable size of investments…
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