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Vienna International Banking Industry News
Read the latest headlines about developments in the international banking industry in Vienna and Austria


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
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