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Vienna International Banking Industry News
Read the latest headlines about developments in the international banking industry in Vienna and Austria
Kommunalkredit back in black
Kommunalkredit AG earned €7.5m ($9.5) net, in the first half of 2010. It is the first period since the split in November 2009; a comparison with the previous year is therefore limited.
August 30, 2010
Austrian Banks in Central, Eastern and Southeastern Europe
According to a recent comparative study from the Austrian Central Bank (OeNB), the long-term commitment of Austrian banks in Central, Eastern and Southeastern Europe (CESEE) offers good prospects.
August 27, 2010
Meinl Bank compensates MEL-investors
The next 600 small investors may get back a third of their losses with MEL-papers. Overall Meinl Bank wants to pay out 3.2m ($4) and then retrieve the money from financial institutions.
August 20, 2010
AWS - Increasing demand for small loans
According to the Austria Economic Service (AWS) a significant increase in demand for small loans was registered in the first half of 2010.
August 17, 2010
Head of Erste Bank Treichl advocates stress test ranking
"Then, investors can visualize the results," said Treichl after a bankers' meeting with Trichet.
July 22, 2010
Austria attracts World Bank
Austria has concluded agreements for an official residence of the World Bank Group. It provides privileges similar to those of diplomats for employees of the international organization.
July 22, 2010
Hungary gives bank tax its blessing
The new Hungarian Prime Minister Viktor Orban will not abandon the highly controversial tax, as decided in Parliament.
July 22, 2010
Banks' equity - "Basel III costs 46 000 jobs"
The stricter rules for the equity of banks will reduce lending by up to 20 percent, says the Institute for Advanced Studies (IHS) in Vienna.
July 21, 2010
Constantia Packaging - shareholders will be reconciled with €47
The new owners of Constantia Packaging make cash payment of €47 ($60.61) per share to its minority shareholders.
July 20, 2010
East-Europe Bank - "Hungary carries risks of infection"
The proposed bank tax against the wishes of the IMF is not a good sign, says the head of the European Bank for Reconstruction and Development (EBRD).
July 20, 2010
Hungary rejects additional austerity measures
Hardened front between the Hungarian government on the one hand and the International Monetary Fund (IMF) and the EU on the other side: highly-indebted Hungary has ruled out further austerity measures.
July 19, 2010
Banks threaten with drastic job cuts
Bankers warnings on impact of the stricter financial rules, five to ten thousand jobs are threatened.
July 19, 2010
Stress tests - according to Cernko, Austrian Banks in the bottom third
Referring to speculation according to which Austrian banks with their relatively low equity ratio should not perform that well, Bank Austria CEO Willibald Cernko said "If one considers capital only, they will be at the top of the bottom third."
July 15, 2010
Stress tests could be price-sensitive information
At the political level it is fiercely debated how detailed the publication of the stress test should be. The FMA currently tests whether the stress test results are stock market relevant, compulsory publications.
July 14, 2010
UniCredit's Profumo proposes 20-billion rescue fund
Head of Bank-Austria parent UniCredit, Alessandro Profumo, has announced his ambitions for a privately financed € 20 billion heavy rescue fund for troubled European banks.
July 12, 2010
Transaction tax - OECD European solo attempt
According to Jeffrey Owens, head of the OECD's tax department, a transaction tax only makes sense if it relates to the financial centres on a global scale.
July 12, 2010
Pröll on economic status quo, "thunder and lightning are over"
The EU has demonstrated that "it is able to act in one of the worst crises, even if there were some mistakes," says Austrian Finance Minister Josef Pröll.
July 12, 2010
Hungarian burden for Austro-banks
Raiffeisen International (RI) CEO Herbert Stepic expressed his concerns during a general conference.
July 9, 2010
Banks swap gold - Caused by Central banks?
European banks have tons of bunkers gold at the "Super Fed" BIS (Bank for International Settlement). But they could have acted only as intermediary.
July 8, 2010
Stress tests - Erste Bank and RZB on the list
91 European banks will have to undergo stress tests of European regulators. Two Austrian institutions will be tested as well.
July 8, 2010
Hungary rejects amendments to bank levy
At the start of negotiations with the International Monetary Fund (IMF), the Hungarian government ruled out an amendment of the introduction of the controversial bank tax.
July 7, 2010
No share price manipulation in Immoeast, confirmed by court-appointed expert
An investor claimed that the price of Immoeast shares had been inflated manipulative trading activities of former Constantia Privatbank (now Aviso Zeta Bank)
July 6, 2010
Immofinanz - Sale of 55m shares hasn't started
The placement of the 55m Immofinanz shares from settlement with Constantia Packaging has not yet begun as reported in today’s published "Company Flash" of UniCredit.
July 6, 2010
Bank Austria’s Snowball clause illegal
The unilateral termination right of Bank Austria in its "Callable Snowball Floater " is unlawful according to the Supreme Court (OGH).
July 6, 2010
Commercial Court - 17 illegal clauses at Bank Austria
17 clauses at Bank Austria conflict with the new payment service law, according to the Vienna Commercial Court.
July 5, 2010
New management duo for Erste Bank Austria
Following the retirement of Bleyleben-Koren, the Bank will be lead by the duo Uher and Bosek.
July 1, 2010
Erste Bank recommends formation of small cash reserves
The investment experts of “Erste Bank” recommend, from the third quarter, formation of small cash reserves in the amount of 5% in the conservative portfolio and 7.5% in the dynamic portfolio.
June 29, 2010
ÖVAG does not want to stay solo
The enthusiasm of authorities, central bank and the federal government is limited for the decision of the ÖVAG owner to continue without a partner and to merge Investkredit and ÖVAG.
June 25, 2010
OeNB - Stress tests discriminate against European banks
The Austrian banks have become more stable compared to the autumn of 2009, as analyzed by the Austrian National Bank. However, "stress tests" could cause lengthy aid procedures in Europe.
June 25, 2010
EU - Austria granted to extend bank aid package
The European Commission extended the authorization for the Austrian bank rescue package of €100b ($123b) for half a year.
June 25, 2010
CA Immobilien Anlagen AG to acquire Europolis AG
CA Immobilien Anlagen AG agreed with Österreichische Volksbanken-AG Group to acquire all shares in Europolis AG.
June 25, 2010
CA Immo attends to Europolis AG
Austrian Volksbank AG (ÖVAG) will conclude on Thursday its business of selling its real estate subsidiary Europolis to the CA Immo.
June 24, 2010
Is Telekom Austria more expensive than the industry average?
Given the current revenue multiples, the Austrian government would have to pay almost 2 billion euros for the network of TA, which is about half the company's current market capitalization.
June 22, 2010
EU has doubts about realignment of Hypo Alpe Adria
The European Commission extended the interim approval of state aid to the Austrian bank. The Commission also expressed doubts about the proposed realignment of the Hypo Alpe-business group.
June 22, 2010
Markus Jochum as new CEO of Hypo Tirol
Markus Jochum, currently CEO of the Tiroler Sparkasse (TISPA), was unanimously elected as the new CEO by the Supervisory Board of Hypo Tirol.
June 21, 2010
Hypo Alpe Adria - shareholders' meeting approves capital increase
€600m ($740m) of fresh capital, shareholders' meeting approves capital increase. Bank issued €450m ($555m) in form of participation certificates for the Federal Government, State Carinthia contributes €150m ($185m).
June 21, 2010
Austrian Post boss Pölzl - No loss of customers, banking business is running normally
Post boss George Pölzl defends himself against allegations of the works council that Post is suffering of customer flight.
June 16, 2010
Finance Minister Pröll against publication of stress tests
Finance Minister Josef Pröll has expressed his discontent at a press briefing this afternoon about the current European debate on the publication of stress tests of individual banks based on the U.S. model.
June 16, 2010
Hungary - Orbán's crusade has what it takes for an export success
Viktor Orbán could have used his appearance at the IIF conference in Vienna to refurbish the image of his bankrupt government.
June 15, 2010
Konrad confirmed as advocate-general for Raiffeisen
Christian Konrad is elected for another four years.
June 15, 2010
Survey - Restrictive lending in Austria
In a survey of the Credit Protection Association (KSV 1870) entrepreneurs declared, that borrowing is currently slow, and the allocation restrictive.
June 14, 2010
Pröll - Austria will introduce a bank tax in a solo attempt.
"The bank tax will be discussed together with the banks and it will be implemented, I stand for that," announced Finance Minister Pröll.
June 11, 2010
Green Party Vienna sharply criticises the Summit Bank
"Scandalous interplay of politics and banks'
June 11, 2010
Austrian President Dr. Heinz Fischer - banks should also make contribution to costs of the crisis
Austrian President Dr. Heinz Fischer said today at the IIF conference in Vienna "a developed social system and equitable distribution of income and wealth for the economic efficiency and political stability of a country are particularly important".
June 10, 2010
IIF Meeting - Viennese outcry against Basel
At its meeting in Vienna on Thursday, the World Bank Association IIF (Institute of International Finance) presented a study on the impact of stricter banking regulations.
June 10, 2010
Raiffeisen launching Zuno
Raiffeisen International is starting a direct bank with the pretty name Zuno, which will start this year in Slovakia.
June 8, 2010
Raiffeisen banks are approaching reunification
Raiffeisen International, performed better than expected in the first quarter of 2010.
June 8, 2010
Schieder wants ban on short selling
The Financial Secretary sees Germany as role model.
June 4, 2010
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