VBAG: No Repayment of State Aid in 2011

Professional Services › Banks ♦ Published: September 28, 2011; 19:18 ♦ (Vindobona)

The Austrian bank’s low equity capital base does not allow repayment of the first € 300m tranche of state capital.

VBAG: No Repayment of State Aid in 2011 / Picture: © Wikipedia / MrPanyGoff

Oesterreichische Volksbanken-AG (VBAG) will not be able to fulfill the repayment of € 300m of participation capital that was planned for the current year. According to company insiders, the reason for the delay is to be found in the bank’s low equity capital base and the disappointing development of earnings.

Instead of the targeted plus of € 100m, the company will likely…

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