Vienna International Banking Industry News
Read the latest headlines about developments in the international banking industry in Vienna and Austria
Credit Costs to Rise in the Wake of Basel III
The new regulatory requirements are expected to increase the cost of credits and to reduce the Austrian banks’ profitability.
July 20, 2011
Hypo Alpe Adria Opens New Branches in Italy
The Carinthian bank is expanding its business in the neighboring country although the subsidiary will soon be in the hands of a new owner.
July 19, 2011
RBI’s Direct Bank Zuno Starts Operations in the Czech Republic
Following the launch in Slovakia at the end of 2010, Raiffeisen’s direct bank now takes up business in a second country.
July 19, 2011
Stress Test: Erste Group and Raiffeisen Passed, Volksbank Failed
Volksbanken Group is the only Austrian bank that failed the stress test. Taking into account the measures that are currently being implemented, the core tier I ratio would be above the benchmark.
July 15, 2011
Meinl Bank in the Red
Meinl Bank surprisingly presented results on Thursday. The institute slid into the red, while the Group was able to reduce losses.
July 15, 2011
Erste Group Provided Financing for Hospital in Warsaw
The € 32m acquisition financing is the first private hospital financing in CEE of that size which has been closed by Erste Group and also a first in Poland for the bank.
July 15, 2011
Former Cheuvreux Duo Berger and Reisenberger to Work for Wiener Privatbank
Former Cheuvreux analysts Alfred Reisenberger and Eduard Berger join Wiener Privatbank as of August 1.
July 15, 2011
VBAG and Sberbank Agree on Sale of VBI
After several months of negotiations the two banks have agreed on the main conditions of the sale of Volksbank International. The deal will be closed by the end of this year.
July 15, 2011
Volksbanken Group Speeds Up Sale of VBI
In the face of the looming negative result of the stress test, the Austrian bank is trying to conclude negotiations with Russian Sberbank.
July 13, 2011
Slow Recovery in Banks’ Lending Activity
Corporate loans recovered faster than loans to private households. Interest rates have increased only slightly since April 2010.
July 11, 2011
Austrian Banks React to ECB’s Interest Rate Decision
The Austria banks quickly passed on the interest rate hike to their customers. Christoph Leitl regards the decision as an impediment for budgetary consolidation.
July 8, 2011
European Stress Test Results to Be Published on July 15
The test performance of 91 participating banks will be available next week. According to Moody’s, Austrian Volksbanken AG is at risk of failing the test.
July 8, 2011
OTP Bank Shows Interest in Volksbank International
The Austrian Volksbanken AG found a second potential buyer for its Eastern European subsidiary. The Hungarian OTP bank wants to expand into the markets where VBI has a presence.
July 7, 2011
Sale of VBI to Be Signed in July
The Austrian Volksbanken Group and Sberbank have come close to an agreement on the sale of the Eastern European bank. The transaction price will be € 700m.
July 5, 2011
RBI Hit by Bankruptcy of Saudi Arabian Company
The Austrian bank has problems with its credit business in Saudi Arabia. “An amount in the low hundreds of millions” is at risk.
July 4, 2011
Successful Start for RBI’s Direct Bank Zuno in Slovakia
18,000 Slovak customers have deposited a total amount of € 125m in the first six months since the bank entered the market in December 2010.
June 30, 2011
RBI: Acquisition of Polbank Stake Advancing
The Austrian bank has received anti-trust approval of the deal. Closing and operational merger are expected in Q4/2011 or Q1/2012.
June 30, 2011
RLB OÖ to Sell Its Stake in Polytec
The Upper Austrian regional bank will sell its shares in the component supplier for approximately € 34m.
June 29, 2011
Volksbanken Group to Sell Stake in RZB
Österreichische Volksbanken-AG Group (VBAG) will sell its shares in Raiffeisen Zentralbank for almost € 500m. The redemption of state capital and the sale of VBI have been delayed.
June 28, 2011
Profit Situation of Austrian Banks Improved Significantly
The banks recorded a positive development in the first quarter. However, net profits of the full year will fall as a result of the newly introduced bank tax.
June 27, 2011
Erste Group: Delayed Redemption of State Capital
The Austrian bank will not repay the € 1.2bn of participation capital before the end of the month, probably due to the ongoing stress test.
June 24, 2011
Austrian Financial Sector Stable – Remaining Challenges in Particular Business Segments
Stress test results show Austria’s banks to be more resistant to risks than in 2010 – Boosting equity remains on the agenda nevertheless.
June 21, 2011
Hypo Group: End of the First Round in the Bidding Process
Today, Friday, was the closing date for the submission of tenders for Hypo Group’s Austrian business. The sale process is expected to take several months.
June 17, 2011
Atrium and Meinl Bank Agree to Stop All Legal Proceedings
The American-Israeli real estate fund and the Austrian bank reached a settlement agreement on the dismissal of all claims between them.
June 17, 2011
Raiffeisen Expanding Its M&A Business in Russia
The Austrian bank group is planning a joint venture between RBI and RIAG in order to put the investment banking in Moscow on a new footing.
June 16, 2011
Bawag-CEO: “No Exit of Cerberus in 2012”
After five years, a sale of the Austrian bank would become possible next year. The shoe retailer Stiefelkönig will be sold this summer.
June 15, 2011
Stagnating Level of New Bank Lending
Loan development in the first quarter: increase in long-term lending, but decline in total corporate lending volume.
June 10, 2011
RBI Could Raise More Than € 3bn
The Austrian bank prepares for issuing up to 97.75 million new shares. The company has not yet set a timetable for redemption of capital injected by the state.
June 8, 2011
Bankers' Bonuses Back to Pre-Crisis Level
Bonus payments of Austrian banks have recovered from the effects of the financial crisis. Rules for the payout have become stricter.
June 7, 2011
Stable PIGS-Exposure of Austrian Banks
The last quarter of 2010 has brought only minor changes in the total amount of lending to the four countries in southern Europe by Austrian banks.
June 6, 2011
Raiffeisen Not Interested in Hypo
The Austrian bank group is currently expanding in Poland but it is not going to bid for Hypo Alpe Adria as an acquisition “would not make sense”.
June 6, 2011
Charges against Former Board Members of BayernLB
Accusations relating to the acquisition of the Austrian Hypo Group: breach of duty, embezzlement of bank funds.
June 3, 2011
UniCredit and Raiffeisen Seek to Broker Bulgaria's EVN Stake Sale
Bulgaria is going to sell its minority stake in an electricity distributor operated by the Austrian energy company.
June 3, 2011
Hypo Alpe Adria to Sell its Italian Subsidiary
The Carinthian bank intends to divest its operations in the neighboring country. The subsidiary achieved a profit of € 10.82m in 2010.
June 1, 2011
Sberbank Targeting RBI
The Russian bank intends to expand its business to Kazakhstan and the Baltic countries. Both companies denied speculations about a potential capital injection.
May 30, 2011
RBI’s Results Above Expectations
The Austrian bank’s consolidated profit fell by 19.1% to € 270m, while analysts expected a decline to only € 253m. Net provisioning for impairment losses went down by 35.9%.
May 26, 2011
Fitch Upgrades Individual Ratings of Austrian Banks
The “A” rating of the big Austrian banks has been confirmed. The individual rating of Erste, RBI and Bank Austria was upgraded.
May 25, 2011
Cheuvreux Closing Its Office in Vienna
The French investment bank is closing down its office in Vienna after three years. This has been confirmed by analyst Alfred Reisenberger.
May 20, 2011
Erste CEO Aims to Repay State Capital Before End-June
The Austrian bank is negotiating the terms of refunding € 1.2bn for which it currently pays 8% interest per year.
May 19, 2011
ÖVAG: Strong Provisional Results for Q1 2011
Österreichische Volksbanken-AG Group (VBAG) expects a quarterly result of € 32m. The AGM concludes the combination of VBAG and Investkredit.
May 19, 2011
Bank Austria Starts the Year with Net Profit of € 341m
Operating profit up by 8 per cent to € 851 m compared with Q1 2010, driven by strong revenue trend in commercial banking business and flat cost development
May 14, 2011
Expansion Plans at Erste Group and Raiffeisen
RBI is drawn increasingly to the Czech Republic, while the Erste Group focuses on the Polish banking market.
May 13, 2011
Inspections at German Subsidiary of voestalpine AG
Inspections by German Federal Cartel office at voestalpine Klöckner Bahntechnik GmbH.
May 11, 2011
Radovan Jelasity appointed CEO of Erste Bank Hungary
Radovan Jelasity (43) will join Erste Bank Hungary as of 1 June 2011. Subsequent to the approval of the respective Hungarian authorities, he will be appointed Chief Executive Officer (CEO).
May 10, 2011
UniCredit Leasing Still Number 1 in Austria's Leasing Market
With an increase of 43 per cent in the new business volume to €763m and a market share of 13.3 per cent, UniCredit is the clear market leader in Austria in 2010 again
May 10, 2011
RBI Joint Bookrunner for € 1.75bn Bond
The bond, which is issued by Banca Monte dei Paschi di Siena, is the second largest EUR-denominated senior unsecured issue by an Italian bank in 2011
May 10, 2011
Raiffeisen International Bank Intends to Get Further Involved in Poland
After the purchase of the Polbank in February, the Austrian RBI seems to be interested now in the Polish DZ Bank. Its chances are however considered to be low.
May 10, 2011
Contradictions Regarding Expenditure for Bank Package
According to Eurostat, € 1.4bn more were spent on bank assistance than the corresponding revenues. The Ministry of Finance contradicts this.
May 7, 2011
ÖVAG in the Black Again
The central institution of the Austrian Volksbanken was able to achieve a profit of € 67.6m in 2010 after losses for € 24.5m reported in 2009.
May 6, 2011
Erste Group Launches Rising Markets Indices
Erste Group launches Rising Markets Indices for bonds and equities focusing on high-opportunity countries. Country selection based on criteria such as GDP growth, population growth, anti-corruption measures and standard of living.
May 3, 2011
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