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Vienna International Banking Industry News
Read the latest headlines about developments in the international banking industry in Vienna and Austria
ATX: Andritz Becomes Number 4
The Austrian technology company Andritz could raise its weight in the prime market of the Austrian Traded Index. Erste Group and Raiffeisen lost massively.
January 7, 2012
Austrian Banks Have $ 41.0bn Exposure in Hungary
After another downgrade, a national bankruptcy of Hungary is not excluded anymore. Consequences for Austrian banks would not be foreseeable.
January 7, 2012
Hungary Becomes Fundamental Risk Factor for Austrian Banks
Over the last weeks, fears of a Hungarian bankruptcy grew drastically. The Hungarian Forint has reached a new record low.
January 5, 2012
Hungary: High Losses for Banks
According to the Hungarian banking association, costs for the coerced conversion of foreign currency loans reach about € 952m.
January 4, 2012
Worsening Economic Outlook for 2012
Economists and analysts expect a massive fall in Austrian economic growth for 2012.
January 4, 2012
Tyrol Equity Takes Over German RSN Sihn
The Austrian investment company acquired 50.1% in the German automotive supplier company RSN Sihn.
January 2, 2012
Hypo Group Sells Insurance Segment
The nationalized Austrian Hypo Group Alpe Adria sold its insurance subsidiary, Hypo Alpe Adria Insurance Services (HIS).
January 2, 2012
Austrian Enterprises Fear Nationalization in Hungary
Nationalization plans induce fierce criticism against the Hungarian Government. The Austrian waste management industry would be hit hard.
January 2, 2012
Hypo Alpe Adria Gets More Time to Build Up Capital
The Carinthian nationalized bank has to raise its own funds ratio to 12%. The Financial Market Authority granted a deadline extension of nine months.
December 30, 2011
Erste Group Increased Share Capital
The Austrian bank raised its capital in connection with the agreement to acquire shares in Romanian BCR.
December 30, 2011
RZB Issued Participation Capital
The Austrian banking group optimizes its structure by acquiring shareholdings in the Czech Republic and Slovakia.
December 30, 2011
RBI Rules Out Sale of Eastern European Subsidiaries
CEO Herbert Stepic expects a very difficult year 2012 for the entire banking industry.
December 29, 2011
VBAG: Sale of VBI to Be Closed in 2012
Contrary to the original schedule, the sale of the eastern European bank will not be closed by the end of the year.
December 29, 2011
Industry Wants to Suspend Banking Tax
The new capital requirements for banks are criticized by the Federation of Austrian Industries and the research institute WIFO.
December 29, 2011
Styrian Mining Company Causes Problems for Austrian Banks
The Austrian mining company Decometal has debts reaching € 250m. Now, the company will be restructured. Loans must be extended.
December 28, 2011
Critics for FMA and Central Bank
Michael Ikrath, general secretary from Austrian Sparkassen, criticizes the Financial Market Authority and the Central Bank for equity requirements imposed on domestic banks.
December 28, 2011
Bank Austria Expects Positive Results
In spite of high losses in the third quarter, the subsidiary of the Italian UniCredit forecasts slight, but positive results.
December 28, 2011
Erste Group: Core Shareholder Endangered to Reduce Stake
Erste Group´s main stockholder, the Erste Stiftung, needs 2012 dividend to avoid stake sale.
December 28, 2011
Raiffeisen to Strengthen Equity Base
RZB shareholders' general meeting resolves the issuance of participation capital worth € 600m.
December 28, 2011
Hypo Tirol: Cut in Lending Prevented
Without the capital increase by the province of Tyrol, the bank would have been forced to cut its lending activities drastically.
December 27, 2011
Erste Group: Capital Shortfall to be Covered by Profits
The new equity requirements will be fulfilled, Erste Group´s CEO Treichl says. The capital shortfall amounts to € 743m.
December 27, 2011
Polbank: RBI wants to Lower Price
The Austrian Raiffeisen Bank International delays the closing of the acquisition. RBI negotiates over a reduction of the acquisition price.
December 27, 2011
Capital Increase for Raiffeisen Hungary
In light of massive loss expectations the Hungarian subsidiary will reduce its headcount and close down several branches.
December 23, 2011
UniCredit Plans to Abolish “Bank Austria” Brand
The Italian group will rename several subsidiaries in order to standardize its brand presence.
December 22, 2011
OeNB Sees No Signs for Credit Crunch
The Austrian Central Bank reports a stable development of new lending. The volume of new corporate and private loans is growing at 2% each.
December 21, 2011
Fitch Calls for Higher Capitalization of VBAG, Raiffeisen, Erste
The Austrian banks’ viability ratings are under pressure due to low capitalization and the banks’ exposure to CEE.
December 21, 2011
VBAG Sells Insurance Segment
The Austrian Volksbanken AG sells its stake in Victoria Volksbanken to Ergo Austria.
December 20, 2011
Resistance Against VBAG´s Structural Plans
The Austrian VBAB recently announced to restructure their group. However, the idea of a “bad bank” is seen as disadvantageous.
December 20, 2011
Hypo Group to Sell Interests in SEE Earlier
Due to the equity regulations, the Austrian bank prefers to sell its business in South Eastern Europe instead of the Italian and Austrian subsidiary.
December 19, 2011
Rumors Say Raiffeisen Looking for New Investors
According to newspaper reports, the Austrian Raiffeisen Zentralbank (RZB) has talks with banks in Sweden and Norway. RZB denies such information.
December 19, 2011
Foreign Currency Loans: Austrian Banks Appreciate Hungarian Decision
Austrian banks reacted positively to the announcement of the Hungarian government to participate in costs for the conversion of foreign currency loans.
December 19, 2011
Bank Austria Reviews Strategy for CEE
In its expansion strategy, the bank focuses on four countries. Plans for Hungary and Romania are stopped, up to 450 jobs will be cut.
December 17, 2011
OeNB: Developments in the Sovereign Debt Crisis Will Be Crucial for Financial Stability
The Austrian National Bank (OeNB) presented the 22nd Financial Stability Report.
December 16, 2011
VBAG Supervisory Board Resolves New Divisional Structure
The Austrian bank will sell its subsidiaries that are not part of the core business. The headcount will be reduced by 20% by the end of 2013.
December 15, 2011
Changes to the Management Board of Erste Group
The Supervisory Board of the Austrian bank took several personnel decisions that concern the holding company as well as the subsidiaries in Hungary and Romania.
December 15, 2011
Building Saving: Financing Becomes more Difficult
In Austria, 45,000 new apartments are needed, causing finance requirements of € 8.8bn. Meeting this demand becomes harder.
December 14, 2011
€ 230m Capital Increase at Hypo Tirol
The province of Tyrol, the owner of Hypo Tirol, decided to strengthen the bank´s capital base. From where the funds will be provided, is not clear yet.
December 12, 2011
Erste Group Increases Stake in BCR to 82%
In connection with the implementation of agreements with the Romanian SIFs, Erste Group has acquired a further approx. 7% stake in BCR against cash and issuance of new shares.
December 12, 2011
Austrian Investor Interested in Croatian Aluminum Company
The Austrian financial investor Michael Tojner is a potential buyer of the Croatian aluminum manufacturer TLM-TVP, which is owned by Hypo Group.
December 10, 2011
Treichl: „9% Quota Is Adequate“
The CEO of Erste Group, Andreas Treichl, is optimistic to achieve the prescribed 9% tier 1 capital quota by mid-2012.
December 10, 2011
Nowotny Attacks EBA
The Governor of the Austrian Central Bank (OeNB), Ewald Nowotny, criticizes the high speed which EBA requires from banks to build up equity capital.
December 9, 2011
Erste Group: Drastic Cut in Hungary
The Austrian bank cuts 450 jobs in Hungary. However, Erste Group emphasizes to stay in Central and Eastern Europe.
December 9, 2011
Reduced, But Still High Shortfall at Austrian Banks
EBA shortfall for RZB Group set at approximately € 2.1bn, for Erste Group at € 0.74bn. However, the initial shortfalls were reduced for RZB.
December 8, 2011
Hypo Tirol Needs Capital Increase
The Tyrolean bank suffers from a low equity capital quota. After major write-offs in Italy, the core capital amounts to 5.8%.
December 7, 2011
Rising Finance Requirements Due to Increase in Investments
According to the Erste Bank’s forecast on savings and loans, the average financing amount in Austria amounts to € 81,800.
December 7, 2011
Major Job Cut at Hypo Group
A spokesman from the Austrian Hypo Alpe Adria confirmed plans for further layoffs. In the medium run, the bank wants to reduce staff by 500 posts at least.
December 5, 2011
Further Write-Offs at Hypo Tirol Possible
The Tyrolean bank could make further write-offs in 2012. Non-performing loans of € 30m in Italy are still in the books.
December 5, 2011
Hypo Group: € 3.0bn Debts at BayernLB
The nationalized Hypo Group is still massively indebted at its former holding company, the German BayernLB. The loan will be due by the end of 2013.
December 3, 2011
Polish Financial Market Authority Claims RBI´s Quotation
The Vice-President of the Polish financial market authority, Wojciech Kwasniak, asks the Austrian Raiffeisen Bank International to quote in Warsaw, besides the listing in Vienna.
December 3, 2011
S Immo Announces Changes in Shareholding Structure
The Austrian real estate company S Immo clarifies that the two core shareholders still remain in S Immo and hold a threshold beyond 9% each.
December 3, 2011
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