Vienna International Banking Industry News

Impact Fund of the Austrian Development Bank: 72 Million Euros for Developing and Emerging Countries

The Austrian Development Bank, together with Bank Gutmann, has just completed the raising of capital for an investment fund that will benefit developing and emerging countries. A total of 72 million euros is to help improve living conditions in these countries and trigger an economic upswing.

April 15, 2022

Due to the Ukraine War: Austrian National Bank Still Expects Huge Inflation in 2022

Shortages of raw materials and high energy prices, triggered by the Russian war of aggression in Ukraine, have led to an increased inflation rate of 5.6% in Austria. After the highest measured inflation rate in March 2022 since joining the monetary union, there is no easing now; this is not expected until 2023.

April 11, 2022

Economic Outlook for Austria: The Kremlin's Aggression against Ukraine is a Game Changer

After a few tough years in which the Covid-19 virus shaped the Austrian economy, a new enormously important factor is coming into play - the war in Ukraine. The Russian aggression led to more pessimistic economic outlook and will still play an enormous factor in the Austrian market in the future.

April 4, 2022

Austria's Raiffeisen Bank Now Considering Russia and Ukraine Exit After All

Raiffeisen Bank International is considering withdrawing from Russia. The enormous civil suffering in Ukraine caused by Russia's war of aggression had led the management to this decision. This step is not taken easy, since Russia counts as one of the key areas of the Austrian bank.

March 18, 2022

Russia's Sberbank with European Headquarters in Vienna under Pressure

The Austrian Financial Market Authority (FMA) has announced a moratorium on Sberbank Europe AG, a European subsidiary of the Russian state-owned Sberbank. Read what this means for Sberbank Europe and its customers.

February 28, 2022

Russo-Ukrainian War: First Effects of Western Sanctions on Russian Economy

The Russian economy is already beginning to feel the effects of the Western sanctions for its invasion of Ukraine. Read what effects the sanctions are having on the economy.

February 28, 2022

Putin's People in Austria and Beyond

Following Putin's invasion of eastern Ukraine with the aim of regaining former Soviet territory, two former European prime ministers from Italy and Finland have already resigned from the supervisory boards of two Russian companies. However, some Austrian and German politicians see no reason to resign their mandates. In the following some explanations why.

February 25, 2022 · Updated: February 25, 2022; 11:23

Continued Strong Interdependence of Business between Russian, Ukrainian and Austrian Companies

Austrian businesses have established significant ties with those in Ukraine and Russia over the years. Read about the amount of business Austria does with each country and how the recent escalation of tensions could affect this.

February 23, 2022

Ukraine Crisis: Potential Impact of Russian Invasion on Ukrainian, Russian and EU Economies

The solution of the Russian aggression and violation of rights towards Ukraine, is of central importance for the world we want to live in. The Vienna Institute for International Economic Studies (WIIW) conducted a study on the potential economic impacts of a Russian invasion of Ukraine. Read their prediction for how an invasion would affect the economies of the EU, Russia, and Ukraine.

February 8, 2022 · Updated: February 11, 2022; 08:35

Erste Group Acquires 100% of Commerzbank Hungary

Erste Bank Hungary Zrt. is acquiring Commerzbank’s Hungarian corporate banking subsidiary Commerzbank Zrt. Through this purchase, Erste is strengthening its position in the corporate banking business in Hungary.

December 20, 2021

The Consequences of the COVID-19 Pandemic for Austria's Economy

The consequences of COVID-19 pandemic continue to determine economic activity in Austria and the banks’ higher resilience has been key to COVID-19 response.

November 29, 2021

Anadi Bank: Former Deutsche Bank Board Member Becomes New Board Member for FinTech

Alp Dalkilic, a former board member at Deutsche Bank, has been appointed to the Management Board at Anadi Bank. Dalkilic is primarily responsible for the bank's FinTech strategy. Read more about Dalkilic and Anadi Bank.

November 5, 2021

Money Laundering, Tax Offenses and Terrorist Financing on the Rise

The Austrian Ministry of the Interior reported an increase in money laundering, tax offenses, and terrorist financing in 2020. Read more details about this disturbing trend and its causes.

November 4, 2021

Wealth Management: Schelhammer Capital Bank Becomes Austria's Leading Private Bank

Bankhaus Schelhammer & Schattera AG and Capital Bank - GRAWE Gruppe AG have merged to form Schelhammer Capital, the strongest private bank in Austria. Read more about the newly created bank and what Chairman of the Board Christian Jauk said about the merger.

October 4, 2021

Joint Vienna Institute: Patrick Imam Succeeds Holger Flörkemeier

Patrick Imam joined the JVI - Joint Vienna Institute as Deputy Director. Having joined the International Monetary Fund (a party to the Agreement for the Establishment of the JVI) in 2005, he has held positions in the Middle East and Central Asia as well as the African Department (Zimbabwe and Madagascar), the IMF Institute and the Monetary and Capital Markets division. His predecessor Holger Flörkemeier was the JVI Deputy Director for the last four years. On the occasion of his departure, the JVI interviewed him and asked him to share his experience and views on the JVI.

September 28, 2021

Wirecard Scandal: Marsalek Confidant Arrested in Singapore

A close confidant of the Austrian-born former Wirecard board member Jan Marsalek, who is wanted on an international arrest warrant, has been arrested in Singapore. Briton Henry O'Sullivan is considered a close confidant of Marsalek and plays an alleged key figure in the multi-billion Wirecard fraud scandal.

September 1, 2021

Digital Pandemic: Interior Ministry Warns About Fraudulent SMS

The Ministry of the Interior led by the Interior Minister, Karl Nehammer, is warning about fraudulent SMS circulating in Austria. The scam aims to trick people into installing malware on their mobile phones by providing a link to an alleged missed voicemail message. Learn how to protect your device and what to do if your device is infected.

July 26, 2021

"Ronaldo of Investment Banking" Becomes New CEO of Bank Austria Parent Company

The Board of Directors of UniCredit SpA, which owns 96.35% of Bank Austria, unanimously nominated "deal junkie" Andrea Orcel as designated CEO to replace the outgoing CEO, Jean Pierre Mustier.

January 31, 2021

EIB Group Cooperates with Hypo Vorarlberg

The European Investment Bank (EIB) has decided to support Austria's economy by unlocking part of Hypo Vorarlberg's regulatory capital. These funds will be used to invest in energy efficiency projects which are directly in line with the EIB's commitment to increasing its climate action lending.

December 1, 2020

Increase of Budget for Investment Subsidies to EUR 2 Billion

The Austrian Government has announced a budget increase for investment subsidies. A high demand and investment volume in the first three weeks of the application period has lead to this decision that is welcomed by the Federal Chamber of Commerce.

September 23, 2020

Foreign Trade Has Partially Recovered from Crisis

According to the latest report from Statistics Austria, imports and exports are only slightly behind last year's number indicating an upwards trend after Covid-19 has impacted foreign trade significantly.

September 8, 2020

WKO Secretary General: Labor Market Situation Improves, But Remains Great Challenge

The secretary general of Austria's Federal Chamber of Commerce WKO recognizes a slightly positive trend in the labor market but underlines the importance of ongoing and future economic measures.

September 7, 2020

Economic Sentiment in Austria and the EU Brightened Further in August

Businesses and the population of the EU still have below-average economic sentiment although the expectations improved over the last month. The sharp decline due to Covid-19 is made up by about 60 % already.

August 31, 2020

Financial Assets of Austrians Back at Record Level After Slump

Austrians have never been richer than today. Private financial assets have recovered and improved after a significant decline in the first quarter of 2020 due to Covid-19.

August 25, 2020

Vienna Based UNIDO Holds Expert Panel to Discuss Developments in Industry and Society

The United Nations Industrial Development Organization hosted an expert panel about the future of industry and society. Main topics were the advancement of attaining the sustainable development goals and shaping society as a whole.

August 21, 2020

Austria Agrees to ESM Pandemic Crisis Support

The National Council has given its approval for financial aid within the framework of the ESM. Specifically, Finance Minister Blümel was authorized to approve a decision in the ESM Board of Governors to grant corona financial aid to all applicant ESM member states within the framework of the ESM Pandemic Crisis Support.

May 14, 2020

Patrick Zehetmayr Appointed Boss of Erste Group's Commercial Real Estate Activities

The Salzburg native, who has almost 30 years of experience in banking and real estate business with Erste Group, was chosen to lead Erste's commercial real estate coverage and financing.

February 19, 2020

New Meinl Bank to Pay 36 Million Euro to Damaged European Land Investors

The legal successor to Meinl-Bank, AAB Anglo Austrian Bank AG, will pay around EUR 36 million to settle the claims of the remaining investor proceedings of approx. 4,000 investors of the former MEL Meinl European Land. Simultaneously, AAB starts a repositioning in which the credit business and the payment transactions are to be reduced, while the advisory business and investment banking are to be focused on.

August 27, 2019

RBI: Significant Decline in Profits in the First Half of 2019

Stock Exchange-listed RBI Raiffeisen Bank International recorded a significant 25% decline in profits in the first half of 2019. The consolidated profit generated was only €571 million, compared to €756 million in the first half of 2018.

August 8, 2019

Meinl Bank Rebranding - Anglo Austrian Bank Launches with Negative Result of EUR 4.5 Mio

As part of a rebranding, Meinl Bank of Julius Meinl V (59) has renamed itself Anglo Austrian Bank and is relaunching its operations in Vienna with 49 employees in order to respond to the increased demand for qualified asset management in the countries of the former Danube Monarchy and to provide clients with a bridge to the countries and financial markets of Western Europe.

June 28, 2019

So What Does the Future Hold for the Eurozone?

The Eurozone between crisis and reform. At the Austrian Academy of Sciences, the renowned European financial experts Agnès Bénassy-Quéré, Klaus Regling, Elke König and Josef Zechner discussed the structure, challenges and necessary financial market reforms within the euro zone.

June 28, 2019

Largest Chinese Bank Opened Branch Office in Vienna

China's largest bank, ICBC - Industrial and Commercial Bank of China was officially commenced for business in Vienna. Mr. Li Zhanshu, Chairman of the Standing Committee of the National People's Congress, who was on an official visit in Austria attended the opening ceremony of ICBC Austria Bank GmbH (ICBC Austria).

May 28, 2019

Mobile Bank N26 Invests in Tech Centre in Vienna

Germany's mobile bank N26 plans to hire more than 300 software engineers, product managers and IT specialists in Vienna in the long term and up to 100 in the medium term. The office is scheduled to open in autumn 2019, and specialists will be recruited with immediate effect.

April 26, 2019

Sberbank Europe Generates Net Profit of EUR 34 Million

Vienna based Sberbank Europe looks back at its best annual result since the acquisition of Austrian Volksbank International in 2012.

April 11, 2019

Organized International Cum-Ex Tax Fraud in Austria - 183 Million Euros Damage

In connection with dividend stripping, the tax fraud model "Cum-Ex" was created, which deliberately allows the multiple refund of capital gains tax paid only once. According to a report in today's Ö1-Morgenjournal, presumably mainly Arab investors, in cooperation with domestic financial advisors and banks, caused Austrian taxpayers a loss of 183 million euros.

April 9, 2019

International Financial Institutions World Bank Group and IMF Expand Presence in Austria

Important success for Austria's business location policy. According to media reports, the IMF International Monetary Fund will move to Vienna in June, while the World Bank Group will double the staff and size of its Vienna office.

March 29, 2019

RBI Subsidiary Raiffeisen Bank Polska Completes Sale

The sale of the core banking business of RBI subsidiary Raiffeisen Bank Polska to BGZ BNP has been completed, according to a statement. The regulatory approvals for the transaction agreed in April have now been obtained. The direct impact of the sale on RBI Group’s consolidated profit is expected to amount to minus EUR 121 million,

November 3, 2018

British-Indian-Austrian Anadi Bank Remains on Growth Course

The former Austrian branches of Hypo Alpe-Adria-Bank International were bought by Indian Investor Sanjeev Kanoria and transferred to British-Indian-Austrian Anadi Bank in 2013. The bank continues its successful growth course in the first half of 2018, although the result from ordinary business activities declined by 37% and profit after tax by 42% compared to the same period of the previous year. The bank describes itself as a bank with the strengths of a tiger. The Anadi Tiger establishes, on the one hand, a symbolic connection to India, on the other hand, he embodies strength, speed, security and flexibility - qualities that the bank expects from itself. Also, Anadi means “eternal” in Hindi and stands for tradition, reliability, and sustainability.

September 7, 2018

Sonja Sarközi Appointed New CEO of Sberbank Europe

Sonja Sarközi, currently Chief Retail Banking Officer of Sberbank Europe, has been appointed as new CEO by the supervisory board. She will succeed Gerhard Randa as of 1 July 2018.

May 29, 2018

Iran-Deal - Austrian Oberbank Distances Itself from Framework Credit Agreement with Tehran

Only last year, the Upper Austrian Oberbank was the first European bank to sign a framework credit agreement with Iran. After the USA's withdrawal from the nuclear treaty, the bank is now under pressure and intends to wait and see. The bank says it could certainly take two weeks for a final solution to be found and officially agreed.

May 11, 2018

Raiffeisen Centrobank: Yearly Financial Report 2017

Raiffeisen Centrobank AG is declaring the following financial reports below.

April 26, 2018

Money Laundering: RBI Is Fined EUR 2.7 Million

The Austrian Financial Market Authority (FMA) has imposed the highest fine ever imposed by the FMA, i.e. a fine of EUR 2.748 million against Raiffeisen Bank International AG.

April 1, 2018

RBI Doubles Net Profit, Pays Dividends Again and Returns to Growth Course

RBI - Raiffeisen Bank International has doubled its profit in 2017 and rewards shareholders. They have not received any dividends since 2013. The bank had to pursue a sharp austerity course, reduce international business volumes, close branches in Eastern Europe and stop dividend payments. Russia remains the most important source of income.

March 15, 2018

LGT Group Reports Profit of CHF 283.4 Mln

LGT, the private banking and asset management group owned by the Princely House of Liechtenstein, reported strong net asset inflows and a significant increase in profits for the 2017 financial year. Group profit for the full year rose 23% to CHF 283.4 million. Net asset inflows, excluding acquired assets, amounted to CHF 17.7 billion, which corresponds to organic growth of 12%. As at the end of 2017, assets under management increased by a total of 33% to CHF 201.8 billion.

March 12, 2018

Bawag Pays €110M for Separation from Austrian Post

Bawag presents its preliminary figures for 2017. The net profit will amount to 466.6 million euros (-1.4 percent). Due to profits, there will be dividend payments to shareholders. The long-term distribution partnership with Austrian Post is to be terminated.

February 28, 2018

How do Russian Politicians and Oligarchs Withdraw their Money from Austria?

The Russian money nobility has begun to repatriate large amounts of its western-hoarded money back to Russia in order to deprive it of access by Western authorities. The countries of origin are above all Switzerland, but also Austria and Great Britain. Sberbank, Russia's largest and state-owned bank, speaks of an atypically high capital inflow to Russia. Within a few weeks, a tripling of such repatriation transactions took place compared to the same period of the previous year. The sum is hundreds of millions of dollars. The average transfer amount has increased within a year by 50% to 3 million dollars. This meets with the Kremlin's desire to repatriate Russian assets.

February 22, 2018

Moody's Lifts Outlook for Austrian Banks

Moody's lifts outlook for Austrian banks on positive, because the economic recovery in Austria makes it possible to improve the outlook for domestic banks.

August 24, 2017

Erste Group Expects Q2 Net Profit of about EUR 560 Million

Erste Group expects to post net profit of approx. EUR 560 million in Q2 16, raises guidance for 2016 to ROTE >12% (up from 10-11%).

July 14, 2016

Western Balkans Countries Discussed Investment, Jobs and Integration in Vienna

The World Bank and the Vienna Institute for International Economic Studies (wiiw) held a high-level policy dialogue on ‘Investment, Jobs and Integration’ last week. Ministers and senior officials from the Western Balkans region as well as policy experts from international organisations and the business community gathered to discuss the challenges the region is currently facing, in particular the high unemployment rate, low international competitiveness, and lack of modern infrastructure.

July 8, 2016

RBI Closes Sale of Raiffeisen Banka in Slovenia

Following the completion of all regulatory requirements, Raiffeisen Bank International AG (RBI) formally closed the sale of its Slovenian bank, Raiffeisen Banka d.d. The sales price will be kept confidential.

July 1, 2016