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VBAG: Complete Write-Off Possible
Politics ♦
Published: January 4, 2014; 18:43 ♦ (Vindobona)
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The Austrian state may has to write down its interest completely. Further capital injections are very likely. Also VBAG´s other shareholders will be obliged to provide fresh funds for the ailing bank.
VBAG: Complete Write-Off Possible / Picture: © Vindobona.org
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. Besides the fully nationalized banks Hypo Group Alpe Adria and Kommunalkredit/KA Finanz, the partly nationalized bank VBAG is causing worries for the Austrian government.
Due to the high losses in CESEE, the seventh…
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