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VBAG: Call for Further State Aids Likely
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The Austrian VBAG (Volksbanken AG), top institute of the Volksbanken sector, still has a substantial capital shortfall.
VBAG: Call for Further State Aids Likely / Picture: © Wikipedia / MrPanyGoff
The weak point of the Austrian banking sector is the nationalized banking sector. At the end of last year, total assets of these banks came at 28% of Austria´s GDP.
After the financial crisis, the Austrian state nationalized Austrian problem banks. The first one was Kommunalkredit, which had to be sold by VBAG in 2008. In order to shift bad…
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