Sponsored
Article Tools

Volksbank: Greater Efficiency by Downsizing

Published: October 30, 2010; 13:39 · (Vindobona)

The Austrian Volksbank AG (ÖVAG) has not been able to reach a cooperation with other domestic banks. The deal with the BAWAG failed. Now, the Volksbank is looking for alternatives.

Volksbank: Greater Efficiency by Downsizing / Picture: © Wikipedia / 718 Bot

The merger with BAWAG had failed even before the summer, other partners were not found.

In order to afford the stand-alone solution, ÖVAG has to downsize further. The future strategy should be approved in December. Several retail banks and the real estate company Europolis already have been sold. Now the ÖVAG will sell its 51 percent stake of the Volksbank International (VBI),…

This article includes a total of 201 words.

or Log In

Fast News Search
Related News
Raiffeisen CEO Stepic: The Crisis in Eastern Europe is Not Over Yet (October 22, 2010)
CEE Real Estate: Outlook is brightening (September 27, 2010)
CEE Banking Sector Report: Still More Credit Losses in the East (September 21, 2010)
Volksbank Vorarlberg: High Losses in Switzerland (September 15, 2010)
Investkredit and ÖVAG: As Of Now, They Have a Common Board (September 15, 2010)
Investkredit back in black (August 30, 2010)
Banks-Stress Test - Friday evening moment of truth (July 21, 2010)
ÖVAG does not want to stay solo (June 25, 2010)
Read More
VBI, VBAG, Banking Industry, M & A, Downsizing, Michael Mendel, DZ Bank, Banque Populaire Group, Austerity, Earnings, CEE Central Eastern Europe, CESEE
Featured
Updated Directory of Foreign Ambassadors in Austria 2019
List of National Days of the home countries of all foreign Missions and Delegations in Vienna, Austria
Austria Appoints 15 New Ambassadors to Austrian Embassies Worldwide
See latest Vindobona Newsletter