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„Shotdown of Hypo Group Would Cost € 6.0bn“
People ♦
Published: June 15, 2012; 13:54 ♦ (Vindobona)
The management of the nationalized Austrian Hypo Group Alpe Adria asserts that the shutdown would be more expensive than the continuation of the business.
„Shotdown of Hypo Group Would Cost € 6.0bn“ / Picture: © KPMG - Pressefoto Gottwald Kranebitter
According to CEO Gottwald Kranebitter, closing the bank now would cost about € 6.0bn. Above all, this would affect the taxpayers and the creditor and former owner BayernLB. For comparison, the shutdown of KA Finanz would cause costs of € 3.0bn. KA Finanz is the bad bank of Kommunalkredit, which was nationlized in 2008.
In 2009, the Austrian state took over the financially…
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