VBAG: High Losses Ahead

Professional ServicesBanks ♦ Published: January 12, 2013; 17:36 ♦ (Vindobona)

The partially nationalized Austrian bank is expected to record losses of more than € 150m in 2012.

VBAG: High Losses Ahead / Picture: © Wikipedia / MrPanyGoff

According to the Austrian news magazine “Standard”, VBAG has registered substantial losses last year. At the beginning of November, VBAG´s management said that the losses may reach a double-digit million amount. “Due to the expected difficult frame conditions and the discounts for the downsizing portfolio, we do not expect interest payments on the participation capital.”…