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Vienna International Banking Industry News

Investigations Against Sanader Continue

The investigation of Austrian and Croatian authorities against the former Prime Minister of Croatia in the Hypo affair are being intensified. Many questions remain unanswered.

December 23, 2010

Raiffeisen Negotiates over Polbank

The Austrian Raiffeisen Bank International (RBI) negotiates actively for the Polish Polbank.

December 23, 2010

Hypo Group: Sanader Denies Payments of Commissions

The former Croatian Prime Minister Ivo Sanader, questioned in Salzburg, denies having ever received money from the Hypo Group.

December 22, 2010

Urgent Need for Capital at Austrian Banks

Walter Rothensteiner, Chairman of RZB as well as the Credit Division of the Economic Chamber, considers that domestic banks are under massive capital pressure.

December 21, 2010

Bank Austria-Fund “Real Invest Europe” Opens as from 21 December 2010

Revaluation of property portfolio complete. Commercial property in Stuttgart sold at market price.

December 21, 2010

Meinl against Atrium: Up to 7,000 Lawsuits

The Austrian bank files lawsuits against the successor company of her former real-estate funds MEL.

December 20, 2010

Accusations Against Sanader Grow Stronger

Many clues point to improper activities by former Croatian Prime Minister Ivo Sanader in connection with the Hypo Group.

December 16, 2010

Russia Reaches for Volksbank International

VBI, the holding company for the Eastern interests of the Österreichischen Volksbanken, is for sale. Russian parties are interested.

December 15, 2010

OeNB: Recovery of the Financial System in a Persistently Uncertain Environment

The OeNB considers that domestic banks benefit from the positive development in the CEE region. However, uncertainties stay on as before.

December 15, 2010

New Head for Bank Austria´s CEE Division

Gianni Franco Papa designated to head Bank Austria’s CEE operations. The experienced manager is responsible for the Group’s planned growth.

December 15, 2010

Complaint of Unconstitutionality against Securities Capital Gains Tax

Austria banks and investment companies file a complaint before the Constitutional Court against the as of next year introduced tax on securities capital gains.

December 14, 2010

Madoff Affair: Accused Defend Themselves

The accused Sonja Kohn and Stefan Zapotocky defend themselves vehemently against accusations and allegations. Both are, according to the accusation, part of the Madoff system.

December 14, 2010

Demands against the Hypo Group Amount up to € 300m

The investigation team appointed for the Hypo Group has determined property damages for over 300m. This amount is the basis for eventual claims.

December 14, 2010

Extensive Refinancing Needs by Austrian Banks

Due to the maturity of large loan volumes, Austria's banks will need at least € 20bn next year.

December 14, 2010

Contradictions about Sanader's Connection to Carinthia

The connection between the former Croatian Prime Minister Sanader and the Carinthian Hypo Group is multifaceted, but also full of contradictions.

December 14, 2010

Government Support for the Hypo Group

The Hypo Group is still far away the end of restructuring. Losses between € 700m and € 900m are expected for this year. The state gives a guarantee for 500m.

December 13, 2010

Madoff Proceedings: Billion Lawsuit against Bank Austria

The former chairman of Bank Medici, Sonja Kohn, is said to have managed the Madoff system for years. A lawsuit has been filed from the US.

December 13, 2010

The Croatia-Connection of the Hypo Group

The recent arrest of former Croatian Prime Minister Ivo Sanader casts shadows on the Carinthian Hypo Group.

December 10, 2010

Is Austria a Risk Country?

Due to its engagement in Eastern Europe, Austria is partially considered as a potential risk country. Lack of understanding for this assessment is shown by Austria.

December 10, 2010

Economic Chamber: No More Credit Crunch for Austria’s Businesses

A study by the Austrian Economic Chamber shows the high level of satisfaction of local businesses with their banks: the credit crunch has disappeared.

December 10, 2010

Volksbanken: State Aid to be Repaid

The Austrian Volksbanken (ÖVAG) will reportedly pay back more than the agreed € 300m of state aid in 2010.

December 8, 2010

Bavaria: "Hypo-Sale was Correct"

The issue Hypo Alpe Adria preoccupies not only the Austrian justice: Bavaria's Prime Minister Horst Seehofer defended the sale to Austria.

December 8, 2010

Austrian National Bank: Credit Shortage Has Been Overcome

The analysis of the Oesterreichische Nationalbank (OeNB, Austrian National Bank) on loan growth shows slowly recovering credit dynamics in Austria.

December 8, 2010

Financing Requirements for Building Societies

According to Basel-III regulations Austrian building societies will require amounts in the hundreds of millions to equip themselves with sufficient equity.

December 8, 2010

Raiffeisen Bank International's direct bank Zuno launches in Slovakia

Zuno, which target Internet-focused customers, launches operations in Slovakia. Additional CEE countries will follow in 2011.

December 6, 2010

New Regulations for Bank Managers' Bonuses

Additional compensations for managers in the banking sector are subject to new regulations approved by the Austrian National Council. Payments will be deferred in time.

December 5, 2010

Hypo Group: Motives for Purchase of BayernLB Unexplained

In 2007, when the Carinthian Hypo Group Alpe Adria was sold to the BayernLB, there were many critical technical opinions. The Bavarians bought despite them.

December 5, 2010

Passing On of Bank Information: FMA Defends Itself

Since, according to Wikileaks, the Austrian Financial Market Authority (FMA) has passed on bank data to the U.S., a position has been taken about the issue.

December 5, 2010

Triple-A Rating: Treichl vs. Nowotny

The Chairman of the Erste Group is not convinced anymore by Austria's financial policy; the Governor of the National Bank however, still stands on "AAA".

December 3, 2010

Stable Recovery of Austrian Economy

The Oesterreichische Nationalbank (OeNB, Austrial National Bank) is assuming a growth of the economy of 1.9% for 2010. Further acceleration is possible for subsequent years.

December 3, 2010

Equity Requirements of Austrian Banks are € 18 billion

Due to the new Basel III regulations, Austrian banks will need a much stronger capital base by 2019. The estimation is € 15 billion to € 18 billion.

December 2, 2010

U.S. Sees Money Laundering Activities at Austrian Banks

Wikileaks has published notes of the U.S. Embassy in Vienna. There were allegedly money exchanges between Austrian banks and criminals.

December 2, 2010

Bawag is Profitable Again

The Austrian bank Bawag PSK, now owned by the U.S. fund Cerberus, is to have profits again this year: € 100m are expected.

December 2, 2010

aws is Commited to the Promotion of Technology

The Austrian development bank aws (austria wirtschaftservice) provides staffing and strategic action steps in order to implement innovative and technological trends.

December 1, 2010

Erste Group is Holding Repayment of Public Funds

The participation capital granted by the State following the bank crisis will only be paid back by the Erste Group after specifications of Basel III are set.

November 30, 2010

The Budget is Finally Set

After weeks of discussions about the 2011Austrian Federal Budget, the final details were announced today. There are very few amendments to the original project.

November 30, 2010

Massive Lay Offs at Hypo Group

The still ailing Carinthian bank restructures the leasing division. 500 jobs are being cut.

November 30, 2010

Government Adapts Capital Gains Tax on Securities

Taxation will be implemented from October 1; loss compensation is allowed. There are no essential changes however.

November 29, 2010

Polbank: Intesa Bids, Raiffeisen Still in the Race

In the battle for the takeover of the Polish private bank Polbank, the Italian Intesa has already placed a bid. No comments are being made by Raiffeisen.

November 25, 2010

Risk Exposure of Austrian Banks: € 32 billion

The volume that Austria's banks hold at the moment in the altogether not risk-free PIIGS countries (Portugal, Italy, Ireland, Greece), is € 32 billion.

November 25, 2010

Wiener Privatbank SE Announces Q1-Q3 2010 Results

Wiener Privatbank records slightly decreasing results

November 24, 2010

Lending Rates of Domestic Banks Significantly Lower Than in the Euro Area

The lending interest rates for private households and businesses have risen recently. But despite this, rates are more advantageous than in other euro-countries.

November 23, 2010

Meinl Bank Sues Atrium for € 1.2 billion

After Atrium instituted proceedings for damages against Meinl Bank before the High Court of Justice in London, Meinl Bank responded with a countersuit.

November 23, 2010

Volksbanken Group Announces Q3 Results

Österreichische Volksbanken-AG Group (VBAG) returns on a positive growth path. The turnaround has been successfully completed.

November 22, 2010

BKS and BTV Show Profit Growth

The two sister banks report strong profits. Expectations are cautiously optimistic.

November 22, 2010

UniCredit: Expansion to the Czech Republic, Poland and Turkey

UniCredit’s subsidiary Bank Austria functions as an Eastern Europe Holding. 40% of the net income of the group comes from the region by now.

November 19, 2010

Oberbank Announces Results for Third Quarter 2010

Due to the expansion of interest and commission income and a stable cost structure, Oberbank has achieved an excellent result.

November 16, 2010

Merger Between Volksbanken and Investkredit

The merger between the Österreichischen Volksbanken AG (ÖVAG) and Investkredit, the subsidiary acquired in 2005, shall be in effect by July.

November 16, 2010

Hypo Tirol Regroups

The Tyrolean Hypo Bank AG is planning a new market direction, staff restructuring and financial consolidation.

November 16, 2010

Austria's Exposure in Ireland: 3.4 Billion Euro

Since September 2009, Austrian banks have halved their exposure in Ireland. The most affected countries are the United Kingdom and Germany.

November 15, 2010