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Vienna International Banking Industry News
Read the latest headlines about developments in the international banking industry in Vienna and Austria
Hypo Tirol Expects Loss of € 110m
The Austrian regional bank’s result will be impacted by major write-downs of non-performing loans in Italy.
December 2, 2011
Legal Success for Bank Austria
A Swiss court granted the bank’s appeal against an obligation to pay € 245m to a German public body.
December 2, 2011
Volksbanken Group Takes Back Restructuring Decisions
The Austrian group cancelled the planned spin-off of its banking operations due to the deterioration of the market environment.
December 1, 2011
Erste Group Buys Remaining Shares in Romanian BCR
The Austrian bank has reached an agreement with the last one of five regional investment funds to acquire its stake of 6%.
November 30, 2011
Austria to Sell Nationalized Bank Kommunalkredit
The nationalized lender has to be sold by mid-2013. Finance Minister Fekter hopes for proceeds of € 500m.
November 29, 2011
Romania Protests Against Austria´s Banks
The Austrian Central Bank and the Financial Market Authority announced to oblige domestic banks to reduce their exposure in the CEE region. Romania fears a credit crunch.
November 28, 2011
Stock Swap at Erste Group
The Austrian bank increases its stake in the Romanian BCR by 6.23% against cash and issuance of new shares
November 28, 2011
Treichl to be Confirmed as CEO
Erste Group´s CEO Andreas Treichl will extend his function at the Austrian major bank.
November 26, 2011
Volksbanken Group Result Negatively Impacted by Extraordinary Write-Downs
The Austrian bank posted a consolidated loss of € 689m for the first nine months of the year. The annual result is expected to decrease even further.
November 25, 2011
Financial Market Authority Terminates Inquiry Against CEO of Erste Group
The head of the Austrian bank group had been accused of balance sheed fraud. A second investigation for alleged market manipulation is still ongoing.
November 24, 2011
Growing Capital Shortfall at Volksbanken Group
The Austrian bank will need another € 200m in order to comply with the EBA’s capital requirements. The price for the sale of VBI might be reduced to € 500m.
November 24, 2011
RBI Posts Decline in Nine-Month Profit
The Austrian bank might have to write down the goodwill on its Ukrainian subsidiary. Consolidated profit declined by 4.8% to € 745m in the first three quarters.
November 24, 2011
Austrian Minister of Economics Criticizes Hungary
On the occasion of a bilateral meeting between the Hungarian and the Austrian Minister of Economics Reinhold Mitterlehner repeated his critics regarding Hungarian foreign currency loans.
November 21, 2011
Austrian Central Bank Calls for Rise in Equity for Banks
The Austrian Central Bank (OeNB) prescribes Austrian banks to raise their equity base. By 2016, a further capital base of 3.0% is required.
November 21, 2011
Increasing Capital Requirements for Austrian Banks
The Austrian Raiffeisen Bank International (RBI) needs to raise its equity base by € 2.5bn instead of € 1.9bn, the bank supervision claims.
November 19, 2011
AutoBank Achieves Further Growth
The Austrian specialist bank increased new business volume to € 59.6m. The operating result more than doubled and amounted to € 817,000.
November 18, 2011
BKS Posts Decline in Profits
The two sister banks Oberbank and BTV were more successful in the first nine months of the year. Consolidated net income went up by 8.2%.
November 18, 2011
Raiffeisen’s Capital Shortfall Grows to € 2.5bn
The Austrian bank said it would not require state support to ensure compliance with the new requirements set by the European Banking Authority.
November 18, 2011
Jobs to be Cut at Bank Austria
After the announcement of high write-offs yesterday, the Austrian subsidiary of UniCredit will reduce its staff from 10,800 to 10,000 by 2015.
November 15, 2011
High Losses for Bank Austria
Due to high write-offs in Ukraine and Kazakhstan, losses amount to € 600m in the third quarter. The first nine months bring profits of only € 4.5m.
November 14, 2011
UniCredit to Withdraw from CEE?
The holding company of Bank Austria, the Italian UniCredit, may close its operations in Eastern Europe. The consequences for Bank Austria are unknown.
November 14, 2011
Immofinanz Refinances Shopping Mall in Moscow
ZAO Raiffeisenbank provides a major loan for the Austrian real estate group in order to expand operations in Russia.
November 14, 2011
OeNB and People’s Bank of China Sign Investment Agreement
The agreement enables the Austrian National Bank to Invest via PBC in Renminbi-denominated assets.
November 10, 2011
Raiffeisen Cuts Staff in Czech Republic
The Austrian banks local unit has reacted to increasing costs and the poor economic outlook.
November 9, 2011
Massive Layoffs at Volksbanken Group
Hundreds of employees of the Austrian bank will lose their job in the next years, according to media reports.
November 9, 2011
Bawag Sues Linz For € 418m
The U.S.-owned bank now sues the Upper-Austrian capital. Linz has terminated a swap contract based on Swiss Francs.
November 8, 2011
Growth Potential in CEE Banking Sector
The Austrian Raiffeisen Bank International has a very favourable growth outlook for six CEE banking markets representing 80 per cent of the region's total banking assets
November 8, 2011
Hungary Rejects Further Bank Charges
Contrary to its initial plans, Hungary will not resolve further aid measures for domestic loan takers. The government is seeking for cooperation with concerned banks.
November 5, 2011
Moody´s Considers Downgrade of Erste Group
The rating agency says that a downgrade of the long-term rating of Erste Group from “Baa1” to “Baa2”is probable.
November 5, 2011
Moody’s: Downgrade of Erste Group Likely
The Austrian bank will likely be downgraded from “Baa1” to “Baa2”, the rating agency says.
November 4, 2011
Capital Needs of Austrian Banks Total € 4bn
The increase is mainly a result of Erste Group’s third quarter loss, according to OeNB’s Executive Director Andreas Ittner.
November 3, 2011
Erich Hampel New Chairman of Bank Austria’s Supervisory Board
The Austrian succeeds Paolo Fiorentino who will remain on the board as deputy chairman.
November 3, 2011
Linz Believes in Victory Over BAWAG
The capital of the province of Upper Austria filed a lawsuit against Bawag, which is held by the U.S. investment funds Cerberus.
November 2, 2011
No Nationalization of Austrian Banks
The head of the Austrian bank holding company Fimbag, Klaus Liebscher, believes that Austrian major banks do not need further capital provided by the state.
November 2, 2011
Losses for Kommunalkredit Probable
The nationalized Austrian Bank has to build major provisions. Write-offs up to € 500m are possible.
November 1, 2011
Raiffeisen: „Do Not Need State Capital“
Walter Rothensteiner, CEO of the Austrian RZB, intends not to sell shares in order to raise the equity base.
November 1, 2011
Erste Group´s CEO Wants to Avoid Further State Aid
Andreas Treichl, CEO of the Austrian major bank Erste Group, wants to prevent a further influence of the Austrian state.
October 29, 2011
Orban Attacks Austrian Banks
The Hungarian Prime Minister Viktor Orban wants to release his country from the “debt slavery” and criticizes Austria´s reactions.
October 29, 2011
OeNB Dismisses Management of Money Printing Subsidiary
Three persons were fired for suspicion of unlawful actions. € 14m have allegedly been paid as bribe to secure a deal with Syria.
October 28, 2011
Erste Group Reports Loss of € 1.49bn for the Third Quarter
The Austrian bank took extraordinary charges leading to a net loss of € 973.0m in the first nine months of 2011 and significantly reduced CDS exposure.
October 28, 2011
Reactions of Austrian Banks to Capital Buffer Requirements
Raiffeisen Zentralbank (RZB) needs € 1.9bn, Volksbank Group (VBAG) € 972m and Erste Group € 59m in order to comply with the EBA’s new requirements.
October 27, 2011
European Banking Authority: Austrian Banks Need € 2.9bn
Banks are required to establish a buffer such that the Core Tier 1 capital ratio reaches 9%. A major part of the capital needs is attributable to Volksbank Group.
October 27, 2011
Hypo Group Plans to Sell Austrian and Italian Subsidiary
The nationalized bank continues its downsizing program. Major parts shall be privatized again now.
October 25, 2011
Ingrid Krenn-Ditz Becomes the New Head of RBI’s PR Department
According to Raiffeisen Bank International AG’s, in November 2011 Ingrid Krenn-Ditz will take over the management of the Public Relations department.
October 24, 2011
Schaller New CEO of RLB Upper Austria
Heinrich Schaller will succeed Ludwig Scharinger as CEO of the regional Raiffeisenlandesbank. Scharinger retires, but becomes consultant for RLB.
October 24, 2011
Volksbanken Group Wants to Sell its 25% Stake in Insurer Victoria
According to Wirtschaftsblatt, which is citing well informed sources, ÖVAG Österreichische Volksbanken-AG want to separate completely from Victoria Insurance by selling its shares to the Victoria’s majority owner Ergo, the unit of German Munich Re.
October 21, 2011
Raiffeisen as Success Guarantee for the Polish State Railways Bond
Polskie Koleje Panstwowe Spólka Akcyjna (“PKP”), the Polish State Railways, rated BBB by Fitch, successfully issued its debut international transaction in the form of a Eurobond amounting to EUR 180 million, reported the Raiffeisen Bank International.
October 21, 2011
Slovak Bank Tax Is Going to Hurt Austrian Banks
On Thursday the Slovak parliament has officially approved a bank levy. The tax is one of the measures taken by the government to strengthen the Slovak budget.
October 21, 2011
Hypo Group: „Need Time, not Cash“
Gottwald Kranebitter, CEO of the Austrian nationalized Hypo Group emphasizes the independence from further state capital.
October 18, 2011
FMA Investigates Against Treichl
The Austrian Financial Market Authority has severe suspicions against Erste Group´s CEO Andreas Treichl.
October 18, 2011
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