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Vienna International Banking Industry News
Read the latest headlines about developments in the international banking industry in Vienna and Austria
High Losses for ÖVAG-subsidiary
VBI, the subsidiary of foreign equity holding company of the Austrian Volksbanken-Group, realized losses in 2010 amounting to € 21.8m.
March 4, 2011
The Madoff Affair: Austria Gets Into the Focus of U.S. Authorities
In the course of the Madoff fraud case, an American legal assistance request has now been filed before the Austrian justice system. Austrian banking circles are involved.
March 1, 2011
Erste Group: State Aid to be Refunded
The CEO of Erste Group, Andreas Treichl, is considering paying back the state money for the amount of € 1.2bn.
February 26, 2011
Profit Record for Erste Group
Austrian Erste Group increases 2010 net profit by 12.4% to € 1,015.4 m on strong operating result and lower risk costs.
February 26, 2011
VBI: Purchase by Sberbank is Looming
The sale of the Eastern European holding company of the Austrian ÖVAG is taking shape. Even Chinese investors are interested.
February 25, 2011
Erste Group: Strong Increase in Lending
The Austrian Erste Group granted € 7.8bn loans in 2010 and expects demand for credit to rise in 2011 and 2012.
February 25, 2011
Saving in Austria Still Popular
Erste Bank’s forecast on savings and credit trends: Austrians plan to set aside approximately € 5,460 in 2011.
February 22, 2011
Record for Austrian Savings & Loan Associations
Savings & loan associations exceeded the one million mark for the second time in 2010. Cash disbursements amounted to € 3.1bn.
February 19, 2011
Hypo Group: Losses up to € 1.3bn
The emergency-nationalized Hypo Group is deep in the red zone as the result of high provisions and value adjustments.
February 19, 2011
Erste Group manages € 1.25bn increase of Slovak Bonds
Strong interest for the Slovak sovereign bonds offering: total orders amounted to € 1.9bn from over 100 investors.
February 19, 2011
Bizarre Allegations of Meinl against Atrium
The ongoing conflict between the Austrian bank and the US-Israeli real estate fund shows new and unusual facets.
February 16, 2011
Vienna Stock Exchange: Winners & Losers (2011-02-15)
Daily News-Flash from the Vienna Stock Exchange: Upgrades & Downgrades, Winners & Losers.
February 16, 2011
Erste Bank Hungary CEO to resign
Edit Papp, the CEO of Erste Bank Hungary, has decided to pursue other professional opportunities and therefore announced her resignation.
February 16, 2011
Accusations against Hypo Group in Slovenia
The Austrian bank is under investigation because of suspicious real estate and financial transactions.
February 15, 2011
Stepic: Austria is Destroying its Business Location
The CEO of Raiffeisen International Bank (RBI), Herbert Stepic, considers the domestic business location to be in grave danger.
February 12, 2011
Hypo Group Changes Leadership in Slovenia
Both the Slovenian subsidiary bank and the leasing company will receive a new leadership for "restructuring reasons".
February 10, 2011
150 New Bank Austria Branches in Eastern Europe
The new board of the CEE Division of Bank Austria presented the group's expansion plans for Eastern Europe. By 2015, 900 branches are to be added.
February 9, 2011
Bank Tax is "untimely" for ÖVAG
The Austrian Volksbank Group's CEO, Gerald Wenzel, expects expenditure of € 40m due to the bank tax.
February 8, 2011
RBI Faces an Increase in Equity
The Austrian Raiffeisen Bank International will strengthen its equity, announces Attorney General Konrad.
February 8, 2011
RLB Burgenland’s Profits Increase
Burgenland's regional bank recorded an operating profit of € 49m for 2010, which represents a slight improvement compared with 2009.
February 4, 2011
Raiffeisen Bank International Acquires 70% of Polbank
The Austrian RBI purchases Polbank for € 490m in cash. Polbank is seen as ideal complement to existing Raiffeisen Bank Polska .
February 4, 2011
Atrium Terminates Trust Agreements with Meinl
The US-American/Israeli fund Atrium terminates trust agreements with the Austrian Meinl Bank AG under the 2003 and 2005 bonds due to “important reasons”.
February 3, 2011
Austria's Credit Industry Appeals to the Constitutional Court
The price gains tax introduced as of January 1, 2011 encounters legal resistance. The Banking Division of the Chamber of Commerce announced a complaint of unconstitutionality.
February 2, 2011
AvW Trial: Eight Years in Prison
An 8 years imprisonment sentence was imposed on the founder and CEO of AvW Group, Wolfgang Auer-Welsbach,
February 1, 2011
Hypo Upper Austria Reports stable Profits
According to the management, the regional bank could exceed its own expectations. Annual profit was € 27m.
February 1, 2011
Atrium: "Meinl Exploited its Position as a Trustee”
After the repayment of the convertible bond to the Austrian Meinl Bank, the real estate funds considers the calling as "blatant unlawfulness."
February 1, 2011
Member of the Board of the Stock Exchange to be Scharinger's Successor?
Heinrich Schaller, Member of the Board of the Vienna Stock Exchange is considered as favorite to succeed the longtime CEO of Raiffeisen Landesbank OÖ.
February 1, 2011
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
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