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Vienna International Banking Industry News
Read the latest headlines about developments in the international banking industry in Vienna and Austria
Austrian Banks Register Growing NPL
The advisory group pwc has issued a new report on the asset quality of Austrian banks. In terms of asset quality, Hungary and Romania are performing worst.
September 5, 2013
Slovenian Finance Minister: “Enough Tax Burdens“
On Tuesday, the Slovenian Finance Minister Uros Cufer announced that enough additional tax burdens have been introduced.
September 4, 2013
Austria: Up to € 11.7bn for Downsizing Hypo Group
Years of discussion went by; now the EU Commission has approved the downsizing plan for nationalized Hypo Alpe Adria.
September 4, 2013
Hungarian Government Wants Further FX Debt Reliefs
The government has talks with the Hungarian banking association. In order to de-burden indebted Hungarian households, Prime Minister Viktor Orban wants to reach a debt relief plan.
September 4, 2013
Hypo: New Risky Loan Agreements Even in 2012
According to the EU Commission, risky loans were granted by ailing Hypo Group even in 2012.
September 3, 2013
Keuschnigg: “We Already Have The Flat Tax in Austria”
The head of IHS demands tax relief instead of further tax burdens and the adjustment to the inflation rate.
September 3, 2013
Cyprus: Waiting for the Next Bailout Tranche
Crisis-struck member of the Eurozone Cyprus will have to wait for the next payment out of the bailout-package. Before the next tranche will be transferred the small country has to implement key measures.
September 2, 2013
Poland: Economic Growth to Speed Up
According to GUS, the Polish Central Statistical Office, GDP grew by 0.8 percent in the second quarter of 2013 on a year-on-year comparison basis, which is an increase of 0.3 percent from 0.5 percent in the first quarter of the year.
September 2, 2013
EU Approves Hypo Group´s Restructuring Plan
The re-privatization of the Austrian publicly held banking group was approved by the Commission. According to the Commission´s report, Hypo Group´s expansion strategy was highly dangerous.
September 2, 2013
Austrian Banking Sector Burdened Heavily With NPL
In total, non-performing loans held by Austrian banks come at € 150bn. This corresponds to 48% of Austria´s GDP.
September 2, 2013
Hypo Group Considers IPO
The Austrian nationalized bank takes an IPO of its Eastern subsidiaries into account.
August 31, 2013
Uher: “Banking Union in Eurozone Great Danger“
Thomas Uher, member of the board of directors at Erste Bank, warns of a banking union that is only limited to the Eurozone.
August 30, 2013
Austria: OeNB Increases Growth Forecast for 2013
The Austrian National Bank (OeNB) has slightly increased its growth forecast for Austria in 2013 from 0.2 percent to 0.5 percent. Govenor Nowotny said there was a better development than expected in the second quarter.
August 30, 2013
Mersch: Banking Supervisory Could Be Delayed
At the Forum Alpbach Yves Mersch, member of the ECB’s (European Central Bank) executive board, presented himself sceptical about whether or not a punktual start of a uniform European banking supervision could take place.
August 29, 2013
VBAG: First Half Year with Losses of € 87m
Partly-nationalized VBAG made net losses in the amount of € 87m in the first half of 2013. In the first half year of 2012 high book profits caused profits to be slightly above zero.
August 29, 2013
Hypo Alpe Adria Threatened with Losses of up to € 3.5bn
According to the restructuring plan and in a worst case scenario, even more losses could amount than in the past five years together. Reports by the media say, this year alone figures never seen before could pile up.
August 29, 2013
Austria: Raiffeisen Group Takes Over VBAG Loans
Loans worth more then € 748m will be taken over by Raiffeisen Group
August 28, 2013
Austria: Hypo Group in “Crisis Mode“
According to Austrian daily “Standard“, there are daily reports about Hypo Group being forwarded to the Austrian National Bank (OeNB).
August 28, 2013
Strache: „No New Aids for Greece“
Heinz-Christian Strache, leader of the Austrian Freedom Party (FPÖ), demands that further bail-out funds for Greece should be stopped immediately.
August 27, 2013
Hypo: Half-Year Results Expected August 28
In order to be able and balance, nationalized Hypo Group required € 700m in capital by the Austrian state.
August 27, 2013
Austria: Bawag to Pay Back Further State Aid
Due to lower costs and provision profits of the Austrian bank Bawag increased. From the coming year on the bank intends to pay back further state aids and plans on further withdrawing from CESEE.
August 27, 2013
Bulgaria: Gross External Debt Amounts to 91.4 Percent of GDP
Bulgaria's gross external debt has amounted to 91.4% of GDP
August 27, 2013
Romania: Government Loans Declined 1.2 Percent
Romanian Government loans granted by credit institutions declined by 1.2 percent.
August 27, 2013
Austria: First Chancellor’s Duel
Chancellor Werner Faymann (SPÖ) and Deputy Chancellor Michael Spindelegger (ÖVP) had their first official chancellor’s duel on TV on Monday. However, people waiting for a major dispute had been disppointed.
August 27, 2013
Bulgaria's Banks’ External Debt Totalled 15.2 Percent Of GDP
Bulgaria's banks’ external debt totalled EUR 6,219.8 million (15.2% of GDP). It declined by EUR 234.8 million (3.6%) from end-2012 (EUR 6,454.7 million, 16.3% of GDP), and increased by EUR 280.6 million (4.7%) year-on-year (from EUR 5,939.2 million).
August 26, 2013
Faymann: Joint Combat against Unemployment
During a meeting with Slovenian Prime Minister Bratusek and Croatian Prime Minister Milanovic and Austria’s second biggest city Graz, Austrian Chancellor Faymann pointed out the governments’ key tasks.
August 23, 2013
Ukraine: Net Profits of Banking Sector Almost UAH 2bn
Ukrainian banking sector reports a sustained increase in the income and net profit.
August 23, 2013
Austria: “Painful Cuts“ at RBI
According to the most recent results, the bank has losses in profits of more then 60 percent. A strict cost reduction program
August 22, 2013
RBI Net Profit Below Analysts’ Expectations: Minus 60.5 Percent
Raiffeisen Bank International with consolidated profit of € 277 million in the first half 2013.
August 22, 2013
Treichl Sells Erste Shares for Half a Million Euros
Because of “private liquidity reasons“, CEO of Erste has sold 20,000 shares via the stock exchange. His deputy Hochstrasser sold 10,000 shares.
August 21, 2013
RBI: Analysts Expect Drastic Losses of 60 Percent
The Hungarian market in particulary is giving Raiffeisen Bank International (RBI) a hard fight. Business has been on an all time low for years.
August 21, 2013
Romania: Without Nabucco, Better Chances for Higher Pay-Out for Transgaz
This year's tariffs revisions are better suited to protect the company for the drop in gas consumption, thus RBI sees lower risk of unrealized revenues.
August 20, 2013
Turkish National Bank to Increase Key Rate
In the fight against the downgrade of the Turkish Lira, the Central Bank of the Republic of Turkey (CBRT) has increased the key rate unexpectedly.
August 20, 2013
Slovenia: Business Organizations Post Wishlist to Government
Slovenian business organizations have forewarded a wishlist to the government in which they request more "breathing room" by the lowering of taxes and measures to enhance development and competitiveness.
August 20, 2013
National Bank of Ukraine fully meets domestic demand for cash
The National Bank of Ukraine is committed to developing cashless payments. At the same, cash is needed for retail payments. The growing demand for cash is fully met.
August 20, 2013
Austrian Division of Hypo Alpe Adria Managed to Turn A Profit
In the past half year the Austrian division of nationalized bank Hypo Group made small profits.
August 20, 2013
Slovenia to Expand Bank Stress Test
Instead of formarly three, ten banks are now supposed to be subjected to a stress test. Results are expected until the end of the year.
August 19, 2013
Austria: Kranebitter to Leave Hypo Group
After three and a half years, Gottwald Kranebitter steps back as CEO of nationalized Hypo Alpe Adria. Tax payers are left with a burden running in the billions in the years to come.
August 19, 2013
RBI´s CEO Sevelda: Drastic Losses in Hungary
Next week, Vienna-listed RBI (Raiffeisen Bank International) will present the results for the first half year of 2013. RBI will put effort into selective growth strategies.
August 17, 2013
Romania: GDP Slowed Down in Second Quarter 2013
Romania: GDP slowed down in Q2, as expected by RBI.
August 16, 2013
Bulgaria: Raiffeisenbank Downgraded by Moody’s
Bulgaria: Moody's downgrades Raiffeisenbank (Bulgaria)'s deposit ratings to Ba2
August 15, 2013
Cyprus: Bailout Should Have Come Sooner
Cyprus should have applied for an EU rescue package in 2011 to avoid the restrictive terms forced on investors to ensure support, its central bank governor said yesterday.
August 14, 2013
Bulgaria: Ministry Reopens Issue of Government Bonds
Bulgaria's Ministry reopens 5-year government bonds issue for maturing on 23 January 2018
August 14, 2013
ECB: New Issuance of Debt Securities Totaled EUR 672 Billion In June 2013.
The annual rate of change of the outstanding amount of debt securities issued by euro area residents was -0.1% in June 2013, compared with 0.1% in May.
August 14, 2013
Hungary to Pay Back IMF Credit
A year earlier than necessary € 2.15bn go back to the International Monetary Fund (IMF).
August 14, 2013
New Erste Group Loan Contributes to La Fantana Recapitalization
La Fantana, the leading bottler and distributor of water in Romania, announced it has successfully raised EUR 34mn in debt financing. La Fantana is controlled by private equity funds managed by Innova Capital.
August 13, 2013
Romania: Positive Inflation Development
Inflation dynamics in Romania surprised on the positive side in July.
August 13, 2013
Austria: State-Owned Bank to Receive Further € 200m
The state subsidy for bad bank of Kommunalkredit has increased to more than € 2bn.
August 13, 2013
20,000 Bank Shops Have Closed Since Beginning of Crisis
60 percent of the costs in the business with private clients are caused by bank shops. Still, banks are hesitant to close them as they fear the loss of long-term clients.
August 12, 2013
Commerzbank: Austria to Miss Budget Goals
Without a new austerity package, Austria will run up more debts than calculated in the bugdet plan, German Commerzbank says. The country’s AAA ratings are likely to decrease.
August 12, 2013
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