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Volksbank: Romania Lowers Results
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The losses in Romania constitute a distinct disadvantage, especially for the sale process of the East-Holding of the VBI.
Volksbank: Romania Lowers Results / Picture: © Vindobona.org
VBI (Volksbanken International) should have operating losses in 2010, for the first time in history. Even in the crisis year 2009, VBI was able to achieve profits for € 47.5m. There are still no official results however.
The figures from Romania are far from encouraging for the ÖVAG group (Austrian Volksbanken). An value correction of over € 140m is expected. Some customers…
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