Sponsored Content
Major Loss at VBI
The Sberbank-owned Volksbank International (VBI) recorded a net loss of € 95.5m last year.
Major Loss at VBI / Picture: © Vindobona.org
Since February, the Vienna-based VBI is wholly-owned by Russian Sberbank. The Austrian financially stricken VBAG had to sell VBI after a series of loss-making years in Eastern Europe.
VBI had to register impairment losses of € 158.6m. In Hungary, the write-offs came at € 112m. The net income totalled € -160.4m. After dissolving reserves, the net loss amounted to € 95.47m.…
or Log In
Fast News Search