No Nationalization of Austrian Banks

People ♦ Published: November 2, 2011; 15:23 ♦ (Vindobona)

The head of the Austrian bank holding company Fimbag, Klaus Liebscher, believes that Austrian major banks do not need further capital provided by the state.

No Nationalization of Austrian Banks / Picture: ©

Klaus Liebscher, who conducts Fimbag (Fimbag holds the participation rights of the Austrian state which were provided to Austrian banks in 2009 in order to strengthen their capital base), sees no nationalization of domestic banks. The European banking industry needs a stronger equity base, Liebscher admits. But theRaiffeisen Zentralbank/Raiffeisen Bank International and Erste Group will…