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Vienna International Banking Industry News
Read the latest headlines about developments in the international banking industry in Vienna and Austria
Meinl Starts New Actions against Atrium
The exchange of blows between Meinl Bank and Atrium is getting more violent. Meinl Bank is presently filing a claim before the Arbitration Court of the Economic Chamber.
December 29, 2010
Bank Austria CEO Cernko: Austrian Banks Fight Securities Tax
The CEO of Bank Austria, Willibald Cernko, was interviewed by the newspaper “Kurier”. He announced that Austrian Banks will call the Constitutional Court.
December 29, 2010
Profits Increase for Banks in Austria
The profitability in the first three quarters of 2010 of Austrian banks shows continued strong growth.
December 29, 2010
Meinl Bank Shows Losses
Due to the elimination of investments, Meinl Bank slips into the red zone. The loss amounts to € 37m.
December 28, 2010
Sanader Remains in Extradition Custody
Custody prior to extradition was imposed on the former Croatian Prime Minister Sanader. He complains about the "arbitrariness of the Croatian authorities".
December 28, 2010
HTI Gets New Financing Structure
The stock exchange listed automobile supplier HTI ends its moratorium. Of € 140m original debts, € 104m are left.
December 27, 2010
Higher Bank Tax for Bank Austria
The UniCredit-subsidiary Bank Austria will have to pay a bigger amount of the bank tax in 2011. The contribution in the following year decreases.
December 27, 2010
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
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