Vienna's Foreign and Bilateral Relations

Bank Levy: Austrian Regional Banks Under High Pressure

The Austrian government will raise the bank levy significantly. Smaller banks have to perform disproportionately high taxes, Oberbank´s CEO Franz Gasselsberger says.

January 16, 2014

Poland Added in IMF´s Watch List

According to the International Monetary Fund, Poland is one out of four new countries which are systemically important in terms of crisis management.

January 16, 2014

Croatian Economy Suffers from Low Investor Confidence

In the first nine months of 2013, FDI continued to shrink. However, the FDI will improve gradually, analysts say.

January 16, 2014

S&P: Polish Banks to Remain “Strongly Profitable”

In 2014’s outlook on Polish banks rating agency Standard&Poor; announced that Polish banks are expected to benefit from an ongoing economic recovery and remain “strongly profitable”.

January 15, 2014

Czech Republic: Economic Growth Expected to Expand

The Czech Banking Association (CBA) has adjusted its economic forecast and expects a growth rate of 1.9 percent for the Czech economy this year.

January 14, 2014

Austria: Expert Paper for Hypo Group’s Bad Bank

An expert paper about possible downsizing options for state-controlled problem bank Hypo Group Alpe Adria is expected to be handed in to the government until the middle of the week.

January 13, 2014

CNB: Significant Increase in Profits

Due to the forex interventions in November last year, the Czech National Bank (CNB) was able to increase its results.

January 13, 2014

Serbia Facing Testing Year

The Serbian government is currently working on a plan to improve the competitiveness of domestic enterprises.

January 13, 2014

Polish Government to Focus on Social Security

According to Poland´s Prime Minister Donald Tusk, the reduction of unemployment and the improvement of social security will be priority issues in 2014.

January 13, 2014

Romania: Economic Growth not Sustainable Yet

In the third quarter of 2013, Romania´s GDP growth amounted to 4.1%. Nevertheless, Romania is still far from a sustainable economic recovery.

January 11, 2014

Czech Fiscal Policy: Major Difficulties Ahead

Despite austerity measures, the Czech debt spiral was up considerably in the past years.

January 11, 2014

Bulgaria: Fitch Confirms Rating at “BBB-“

According to Fitch, the outlooks are stable. In case of an increase in political and social tensions, Bulgaria´s current rating would be in danger, however. Bulgaria´s financial situation is satisfying, though.

January 11, 2014

Hungary: Further Monetary Cuts Not Unlikely

Adam Balog, deputy governor of the Hungarian National Bank (MNB), argues that there is still downward potential.

January 10, 2014

Czech Economy: Good Prospects for Sustainable Recovery

The Czech economy is expected to return to growth already in the first half of 2014. Growth will not be only based on exports.

January 10, 2014

Poland: Finance Minister Optimistic About Growth

According to Finance Minister Mateusz Szczurek, economic growth in Poland could exceed three percent year-on-year in 2015.

January 10, 2014

Czech President Announces Appointment of Government

After months of disputes between the election winner and Czech President Milos Zeman, the date of the appointment of the new government was announced.

January 10, 2014

RBI: Change in Shareholdings Expected

The announcement to increase capital by Raiffeisen Bank International (RBI) did not come as a surprise. However, experts and investors did not expect such a high volume (up to € 2.5bn) and fear a dilution in shareholdings.

January 10, 2014

Poland: Key Interest Rate to Remain Unchanged

As expected, the key interest rate will not be changed. According to Marek Belka, governor of the Polish National Bank (NBP), there was no need in monetary interventions.

January 9, 2014

Eurozone: Further Capital Injections at Banks Expected

The Council of the European Central Bank (ECB) is holding a summit today. The low inflation rate in the Eurozone is still a dilemma for the monetary authorities.

January 9, 2014

Hungary: Austrian Farmers Still Left in the Dark

There is still no clarification in the controversial Hungarian land law for Austrian farmers and land owners.

January 9, 2014

Bulgaria: Small Growth in Real Estate Market

The real estate market in Bulgaria saw a growth of 2.98 percent last year.

January 9, 2014

RBI: No Withdrawal from Hungary

Due to massive losses, the second-largest lender in CESEE was said to leave the difficult Hungarian market. RBI denies such reports.

January 8, 2014

Orco Property Group: Cut in Number of Board Members

Shareholders of Luxembourger real estate company Orco Property Group voted to cut the number of board members from nine to five on Monday.

January 8, 2014

Sobotka Presses for Appointment of Czech Government

As reported by Czech news agency CTK, party leader of the Czech Social Democrats (CSSD) Bohuslav Sobotka will get together with President Milos Zeman to request a fast appointing of the new government.

January 8, 2014

Hungary: SZKB to Take over Hungarian RBI?

Hungarian Economy Minister Mihaly Varga considers it unlikely for Szecheny Commercial Bank (SZKB) to take over the Hungarian affiliate of Raiffeisen Bank International (RBI).

January 8, 2014

Serbia: One of Fastest Growing Economies

Last year Serbia was among the ten fastest growing economies in Europe, as pointed out by Deputy Prime Minister Aleksandar Vucic.

January 8, 2014

Czech Republic: Alarming Increase of Private Bankruptcies

The number of private insolvencies increased by 13 percent and stood at a new record in 2013.

January 7, 2014

European Union: Private Trading of Banks to be Restricted

The European Union intends to severly restrict risky private trading of banks.

January 7, 2014

Hungary: Erste Group Confident

The third-largest lender in CESEE underlined that the Hungarian subsidiary will not be sold. The Austrian bank is confident to reach the turnaround soon.

January 6, 2014

First Offer for RBI´s Hungarian Subsidiary

The partly nationalized Hungarian lender Szechenyi Bank is interested in the Hungarian subsidiaries of the Austrian banks Erste Group and Raiffeisen Bank International.

January 6, 2014

European Savers in Danger

Already this year, savers in the Eurozone may fear a compulsory tax on deposits, the Danish Saxo Bank says.

January 4, 2014

Czech Budget Deficit Lower than Expected

In total, the Czech budget deficit will come at 2.0% of GDP. Before, the budget deficit was estimated to come at 3.4% of GDP.

January 4, 2014

Czech Governor Awarded Banker of the Year 2014

Miroslav Singer, governor of the Czech National Bank (CNB) was given the Central Banker of the Year 2014 award for Europe by The Banker.

January 3, 2014

Eurozone: Number of Bank Credits Keeps Declining

The financial institutes in the Eurozone have been cutting back on granting credits. The lending for both business corporations and private persons has dropped by 2.3 percent.

January 3, 2014

Austria: FMA to Activate Whistleblower Hotline

At the beginning of this year the Financial Market Authority (FMA) in Austria has activated a “whistleblower hotline” for bank insiders to report about potential abuses.

January 3, 2014

Poland: Little Trust in Insurance Companies

According to a survey, Polish citizens lack in trust in insurance companies.

January 3, 2014

Czech Economy to Return to Growth

After two years of GDP contraction, the Czech Republic will reach moderate economic growth rates in 2014.

January 2, 2014

Massive Change in Banking Landscape

The business model of banks comes more and more under pressure. In the next years, about the half of the bank shops will be closed, banking expert Hans-Gert Penzel predicts.

January 2, 2014

Austria: Unemployment Rate at Record High

Last year the unemployment rate in Austria recorded its highest level in 60 years.

January 2, 2014

Poland: WSE to Register More IPOs in 2014

Since further companies will start listing at the Warsaw Stock Exchange (WSE) in 2014 the Polish stock will become more attractive to investors.

January 2, 2014

Serbia: Moderate Economic Growth in 2013

According to the release of the Serbian Statistical Office, GDP is estimated to have grown 2.4% in 2013.

January 2, 2014

Czech Republic: Household Debts Increasing

Debts to banks and other financial institutes by Czech households keep on increasing, according to a report by the Czech National Bank (CNB).

January 2, 2014

Croatia: National Bank Forecasts Decent Growth in 2014

Private and public consumption are anticipated to shrink further. Nevertheless, Croatia is expected to return to growth next year.

December 31, 2013

EANS-Total Voting Rights: Atrium European Real Estate Limited / Release according to article 93 BörseG with the aim of a Europe-wide distribution

December 31, 2013

Croatia: Real Estate Market Crisis Goes On

After the collapse of the Croat real estate market in 2009/10, the price decrease still holds on.

December 30, 2013

„Such Growth Rates Will not Return“

In an interview with the Austrian daily “Presse”, economist Karl Aiginger explains that the worst should be over. The reform pressure on the Austrian government is enormous.

December 30, 2013

Hypo Group: „The Wrong Decisions were Made“

Johannes Ditz, former chairman of the Austrian nationalized Hypo Group Alpe Adria, thinks that the Austrian government could have avoided a massive burden for the taxpayers.

December 28, 2013

Poland: Komorowski Approves Pension Reform

Poland´s President Bronislaw Komorowski has signed the nationalization act. However, he will send the law to the Constitutional Court.

December 28, 2013

Hungary: Best Economic Outlook since 2002

After the country had left the double-dip recession, the Hungarian economic sentiment index has reached the highest level in more than 11 years. Nevertheless, the country still has to manage number of fundamental risks.

December 28, 2013

Czech Republic: Babis Claims Finance Ministry

Andrej Babis, head of the second-largest Czech party, wants to become Minister of Finance. The Czechs face a new austerity package.

December 28, 2013