Volksbanken: State Aid to be Repaid

Business › n.a. ♦ Published: December 8, 2010; 23:41 ♦ (Vindobona)

The Austrian Volksbanken (ÖVAG) will reportedly pay back more than the agreed € 300m of state aid in 2010.

Volksbanken: State Aid to be Repaid / Picture: © Österreichische Volksbanken-AG (ÖVAG)

Up to € 400m could be repaid to the State by the ÖVAG, writes the Austrian magazine "Wirtschaftsblatt". Overall, the Republic of Austria had granted € 1.0bn in state aid.

The supervisory board will decide now on repayment. The equity now lacking will be obtained by ÖVAG, according to reports, over an as of yet unspecified “technical accounting procedure". This way, new…

or Log In

Fast News Search
Related News
Merger Between Volksbanken and Investkredit (November 16, 2010)
Volksbank: Greater Efficiency by Downsizing (October 30, 2010)
Investkredit and ÖVAG: As Of Now, They Have a Common Board (September 15, 2010)
Investkredit back in black (August 30, 2010)
ÖVAG does not want to stay solo (June 25, 2010)
Read More
Funding, Fiscal Policy, Equity Markets, VBI Volksbank International AG, DZ Bank, VBAG
Featured
See latest Vindobona Newsletter