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Vienna International Banking Industry News
Read the latest headlines about developments in the international banking industry in Vienna and Austria
CA Immo: „Bid of UniCredit too low“
UniCredit intends to increase its stake on the Austrian CA Immo up to 29%. The board regards the bid of € 12.35 per share as being “too low”.
January 30, 2011
Hypo Group: Non-Performing Loans for € 8.5bn
The Hypo Group nationalized by the Austrian government is still deep in the red. The bank will be profitable as of 2012.
January 29, 2011
Bawag has to Sell Non-Core Business
The Austrian bank, which is owned by the US-American investor Cerberus, is obliged to sell its non-banking subsidiaries.
January 29, 2011
Meinl Bank to Cancel Previously Scheduled Bondholder Meeting
According to Atrium, a US/Israeli real estate company, circumstances causing a cross-default event do not subsist anymore.
January 29, 2011
Meinl Bank Continues to Claim Default of Atrium
Meinl Bank: „Atrium zahlt Meinl Bank states: "Contrary to their own announcement Atrium is not paying back the 10.75% convertible bond". Cross default risk remains upright
January 28, 2011
Unmodified Lending Policy of Austrian Banks
Austrian banks did not change their lending policy in the fourth quarter of 2010, no modifications are expected for the current quarter either.
January 28, 2011
Erste Bank to Expand its Corporate Customer Business
Business with local companies is set to grow twice as fast as the Austrian market. Share for SME business set to rise from 24 to 33% in the next 3 years.
January 28, 2011
New Heads of Credit Risk Management at Bank Austria
Heinz Tschiltsch new head of CEE Credit Operations, Harald Brückl responsible for Special Credit Austria department.
January 28, 2011
U.S. Embassy on Hypo Group: "Mini-empire in the Balkans"
New Wikileaks documents indicate that the U.S. Embassy analyzed the symbiosis between the Austrian financial and political scene.
January 27, 2011
Bank Assistance is Lucrative for the State
Contrary to fears, revenues of the bank rescue package more than double the refinancing costs.
January 26, 2011
Atrium Repays Convertible Bond to Meinl
The American-Israeli real estate fund Atrium repays the 10.75% 2008 convertible bond to the Austrian Meinl Bank.
January 25, 2011
Change in Leadership at Bank Austria
Paolo Fiorentino, has been elected as Chairman of the Supervisory Board of Bank Austria. Francesco Giordano will act as future Chief Financial Officer.
January 22, 2011
Meinl Bank: New Attacks Against Atrium
The dispute between the Austrian bank and the American-Israeli real estate fund is getting fiercer. Meinl is calling a bond.
January 21, 2011
Bank Austria: Bank of Moscow is No Longer an Issue
Bank Austria will not submit an offer for the Bank of Moscow, against all market speculations. Instead, it will open its own branches.
January 20, 2011
Hypo Group Purchase by BayernLB was "unrealistic"
The former chairman of BayernLB’s Supervisory Board said that the bank cheated itself on the purchase of the Hypo Group.
January 20, 2011
Weak Capital Base of Austrian Banks
According to the rating agency Standard & Poor's (S&P), Austria's major banks are equipped with very weak equity by international standards.
January 20, 2011
Life Insurance Continues in Demand
While Austrian private investors have less savings, rights to pensions and life insurances rise.
January 19, 2011
Tax Treaty between Austria and Germany
Austria and Germany sign a revision protocol on double taxation agreements to implement the OECD standards of transparency and effective exchange of information.
January 19, 2011
Oberbank is Expanding
Oberbank boss Franz Gasselberger has big plans. The branch network will be expanded this year by eight new branches to 150. The banker’s focus of expansion is Vienna.
January 19, 2011
Volksbank: Romania Lowers Results
The losses in Romania constitute a distinct disadvantage, especially for the sale process of the East-Holding of the VBI.
January 19, 2011
The Hypo Group and its Consultants
In the months before and after the emergency nationalization of the Austrian Hypo Group, the Bank paid rich consulting fees despite all turbulences.
January 18, 2011
Citigroup Trades on Vienna Stock Exchange
Vienna Stock Exchange gives admission to trading of Citigroup Global Markets Limited, London (UK).
January 18, 2011
Volksbanken to Sell Share in RZB
According to newspaper reports, the Austrian Volksbanken Group sells a 6% share on Raiffeisen Zentralbank.
January 17, 2011
Bank Taxes: „Job Cuts or Price Increase”
According to Michael Ikrath, bank representative of the “Sparkassen”, the new charges for Austrian banks are the highest in Europe.
January 17, 2011
Treichl: Massive Criticism on Austrian Government
Andreas Treichl, CEO of Erste Group criticizes the Austrian Government for its fiscal and structural policy. 2011 would be the last chance for reforms.
January 16, 2011
Austria's Funds Showed a Plus in 2010
2010 was another year of gains for Austrian funds: of 1601 funds, 1464, showed a positive performance.
January 15, 2011
Bank Austria Increases its CA-Immo Stake
The UniCredit-subsidiary intends to acquire a major stake of the Austrian real estate company CA Immo.
January 15, 2011
Investment Inhibition in Austrian Companies
The investment situation of Austrian companies is analyzed in the liquidity situation report by PwC. There are still frictions present on the capital market.
January 14, 2011
Customer Growth for Construction Savings Bank ABV
In 2010, the Austrian construction savings bank ABV granted building loans for € 287m.
January 14, 2011
Bank Austria Bids for Bank of Moscow
The UniCredit subsidiary is reported as holding talks with the Bank of Moscow to acquire a 46.5% stake.
January 14, 2011
Bawag and Post Share 520 Branches
Investments in the common branch network of the Austrian Post and the U.S. fund Cerberus owned Bawag are running.
January 14, 2011
Austria Savers Remain Conservative
Saving behavior in Austria remains unchanged with a high degree of popularity of traditional building savings plans and bank savings accounts.
January 13, 2011
CEE: Raiffeisen Remains Optimistic
The analysts of the Austrian Raiffeisen International Bank give Austria and the CEE good growth prospects. However, there still remain known risks.
January 12, 2011
New Controversy over the Hypo Group
According to the investigators, there would be no connection between the Austrian bank and Gribkowsky, the former member of the board of BayernLB
January 10, 2011
Polbank: Imminent Decision
The decision for the sales process of Polbank will be announced in the next few days, according to the parent company EFG Eurobank.
January 10, 2011
Volksbanken Profitable Again
The Austrian Volksbanken Group generated profits in 2010. The state’s money should be repaid this year.
January 7, 2011
Demands for Financial Transactions Tax
The Chairman of the Austrian Provincial Governors’ Conference, Josef Pühringer, demands the introduction of a pan-European financial transactions tax.
January 7, 2011
Suspicion on Money-Laundering at Hypo Group
Money transfers between the Carinthian Bank, Switzerland, Liechtenstein and the Caribbean are currently being checked extensively by the judiciary.
January 7, 2011
Former Member of the Board of BayernLB Arrested
Gerhard Gribkowsky, whose foundation in Austria was concealed to the German judiciary and is now known, is in custody
January 5, 2011
FMA Prohibits Speculative Elements in Savings Accounts
The Austrian Financial Market Authority FMA specifies the characteristics of savings certificates. The traditional savings account is to remain non-speculative
January 5, 2011
Bank Tax in Poland?
The Polish government is considering levying taxes on banks already in 2011. From the Austrian perspective, Raiffeisen Bank International would be affected.
January 5, 2011
CEE Stocks to Climb by 20% in 2011
Erste Group analysts recommend: stock picking rather than sector allocation. 2011 to be a positive year for equity investments.
January 5, 2011
MEL: Demand for Higher Quota against Meinl
A lawyer representing the investors calls for an increase of the quota on the occasion of the compromise between Meinl Bank and former MEL investors from 35% to 70%.
January 5, 2011
Hypo Group: Little Enlightment Expected from Grasser and Berlin
The Chairman of the Inquiry Committee on the Hypo Group expects little gain of information by the summons of Karl-Heinz Grasser and Tilo Berlin.
January 4, 2011
Wolf Theiss Starts Advice For Basel III
In response to the challenges presented by Basel III, the Austrian consulting company has formed a special "Basel III Task Force".
January 4, 2011
Secret Foundation of BayernLB in Austria
In the hearings on the purchase of Austria's Hypo Group, a former Member of the Board of BayernLB concealed the existence of a foundation in Austria.
January 3, 2011
RLB OÖ Records Substantial Growth
Raiffeisenlandesbank Oberösterreich experiences a 11.8% increase in operating profits. Cost-Income ratio further decreases.
December 31, 2010
VBI Romania is a Source of Worries for ÖVAG
Volksbank International (VBI) is to be sold by the Austrian Volksbanken Group. The Romanian subsidiary keeps the group from doing so.
December 31, 2010
Kovats also Suffers Private Plight
The chairman of the insolvent A-Tec, Mirko Kovats, has to grant Raiffeisen liens on his personal properties
December 31, 2010
ÖVAG: Sales Process of East-holding is Under Way
For the coming year, the Austrian Voksbanken are planning to restructure the Group. A buyer is currently being sought for the East-holding.
December 30, 2010
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