Vienna International Banking Industry News
Read the latest headlines about developments in the international banking industry in Vienna and Austria
Poland: Promising Years Ahead
Poland observes the crisis in Ukraine with great concern, but does not forget to upgrade national resources.
March 25, 2014
Austria: Unemployment Rate to Remain at Record High
The Austrian unemployment rate is expected to remain at a record high even in 2015.
March 25, 2014
World Bank: Serbia Has Nine Month to Implement Reforms
According to Tony Verheijen, the World Bank’s Country Manager of Serbia, Serbia has nine month to implement the reforms necessary.
March 25, 2014
Poland: Number of Real Estate Loans Drops
The portfolio of real estate loans of Polish households declined in February, according to a report by the National Bank of Poland (NBP).
March 25, 2014
Spindelegger: Investigation Committee “Counterproductive“
According to the Finance Minister, an investigation committee would only worsen the negotiation position with BayernLB.
March 25, 2014
Hypo Group: Spindelegger Still Rejects Investigation Committee
Today the opposition will call for a joint request for a parliamentary investigation committee with regard to ailing bank Hypo Group.
March 25, 2014
Austria: Hypo Petition to be Continued
The online petition for the establishing of a parliamentary investigation committee will not be stopped by the Austrian government, consisting of SPÖ (Social Democrats) and ÖVP (Austrian People’s Party).
March 24, 2014
Poland: PKO BP Considers Expanding Worldwide
The biggest lender in Poland PKO BP is weighing up international expansion
March 24, 2014
Hypo Group: New Supervisory Board President
Herbert Walter becomes head of the nationalized Austrian Balkan lender Hypo Group Alpe Adria. According to Austrian Finance Minister Michael Spindelegger, Hypo Group needs even more capital injections.
March 24, 2014
Moody´s Downgrades Bank Austria
The U.S. rating agency Moody´s takes a closer look at European banks. Due to the worsening asset quality of Bank Austria´s parent company UniCredit, Bank Austria´s rating was cut to “Baa2”.
March 22, 2014
Austria: Petition Around Hypo Group to be Stopped
The stop of the online petition for a parliamentary investigation committee seems to be unavoidable. The opposition claims the government is trying to “choke off” democracy.
March 21, 2014
Hypo Group: € 1.43bn Required This Year
A total capital need of € 1.43bn is forecast by the ailing bank.
March 21, 2014
Hypo Group: More than One Billion Required?
As reported by Austrian radio station Ö1, part of the Austrian Broadcasting Corporation ORF, ailing Hypo Group Alpe Adria will require € 1.1bn this year from the state.
March 21, 2014
Final Time-Out for Austrian Bank Secret
During the EU Summit the final time-out for the Austrian bank secret for foreigners was decided. Both Austria and Luxembourg agreed to give up their banking secrets.
March 21, 2014
Hypo Group: “Acutely Gaping Capital Hole“
In a compulsory notification published on Friday morning, Hypo Group Alpe Adria has reported about an “acutely gaping capital hole” which has to be covered by the Austrian Federation.
March 21, 2014
Austria: Still No Disclosure about Hypo’s Capital Gap
Detailed figures about how much the Austrian state will have to inject for the balance sheet total of 2013 will be published on Friday at the earliest.
March 21, 2014
Fitch: Elections Command Fiscal Consolidation and Reforms
Vucic appears to acknowledge the need for reforms in Serbia.
March 20, 2014
Austria: Opposition Criticizes Nationalization
On Thursday Finance Minister Michael Spindelegger expects a binding statement by ailing bank Hypo Group Alpe Adria about how much state aid will be required. The opposition heavily criticizes the nationalization by the Austrian state in 2009.
March 20, 2014
Austria: Reform Steps Very Modest
Austria, along with Germany and Switzerland, hardly put any economic reforms into realization. This is the conclusion of the annual “reform barometer” for the three countries.
March 20, 2014
Sanctions Against Russia: Massive Threat for Austrian Banks
Brussels plans to impose economic sanctions on Russia. The Austrian financial sector would suffer enormously an escalating conflict with Moscow.
March 19, 2014
Hypo Group Expected to Publish Figures This Week
On Thursday the Austrian taxpayers are supposed to officially get to know the financial requirements for nationalized problem bank Hypo Group Alpe Adria.
March 19, 2014
Austria: Freedom Party Admits Complicity
The Austrian Freedom Party (FPÖ) admits that it was also to blame for the disaster around Hypo Group Alpe Adria.
March 19, 2014
Poland: Key Rates to Remain Unchanged until 2015
In an interview with Bloomberg Businessweek magazine, Marek Belka, Governor of the National Bank of Poland (NBP), announced that interest rates will remain unchanced until the end of this year.
March 18, 2014
Hungary: Jurisdiction Affects FX Loans and Banks
Hungary’s constitutional court will exert influence on FX loans.
March 18, 2014
Slovenia: SID Bank With Declining Profits
The public export and development bank of Slovenia, SID, sees shrinking profits.
March 18, 2014
BayernLB: “We Were Brazenly Betrayed by Austria"
CEO of BayernLB Gerd Häusler claims the German bank and former parent company of nationalized Hypo Group Alpe Adria accuses Austria of having taken the law into its own hands.
March 18, 2014
VBAG: Romanian Affiliate Sells Bad Loan Portfolio
The ailing affiliate of Austrian partly nationalized VBAG will sell its non-performing loans on a large scale.
March 18, 2014
Poland: PKO BP Cuts Down on Business in Ukraine
The Polish top lender PKO BP’s Ukrainian affiliate Kredobank closed four of its six branches in Crimea in the past two weeks.
March 18, 2014
Hypo Group: Government Explains Downsizing Solution
On Tuesday the Austrian government will explain the decided downsizing solution for the ailing bank Hypo Group Alpe Adria. Carinthia only wants to pay € 300m in downsizing costs.
March 18, 2014
Hypo Group Redeems Loan
Even though the Austrian nationalized Hypo Group urgently needs state aids to get by bondholders will be compensated for their investments.
March 17, 2014
Austria: Carinthia Forced to Pay for Hypo Group
Finance Minister Michael Spindelegger announced wanting to include the federal province of Carinthia to participate in the downsizing costs for ailing bank Hypo Group Alpe Adria. Austerity measures are “inevitable”.
March 17, 2014
Belka: Poland Should Not Haste into Eurozone
Marek Belka, Governor of the National Bank of Poland (NBP), said that the country did not have to haste to become a member of the European single currency union.
March 17, 2014
Austria: Spindelegger Puts Pressure on BayernLB
In the dispute with BayernLB, former parent company of problem bank Hypo Group Alpe Adria, Finance Minister Michael Spindelegger calls for a tougher approach.
March 17, 2014
Austria: Spindelegger Demands Valid Figures by Hypo Group
Finance Minister Michael Spindelegger demands valid figures from Hypo Group Alpe Adria before any further capital injections will be made by the Austrian state.
March 15, 2014
Austria: Delay in RBI Paying Back State Capital
Austrian Raiffeisen Bank International (RBI) will take longer than planned to pay back state capital.
March 15, 2014
DiTech: Insolvency Postponed
Heavily affected computer equipement trader DiTech has to postpone filing for insolvency proceedings, which was planned today at the Commercial Court in Vienna.
March 14, 2014
Slovenia: Banking Sector Still Prone to Risks
The Slovenian banking sector is still prone to risks as the number of non-performing loans was not reduced substantially.
March 14, 2014
Austria: IV Welcomes Government‘s Decision on Hypo
According to Kapsch, president of IV, Hypo Group’s insolvency would have meant uncertainty and damages to the reputation of the business location Austria.
March 14, 2014
Hypo Group: Decision Has Finally Been Made
The government has finally made a decision. Ailing Hypo Group Alpe Adria will be downsized through a private bad bank.
March 14, 2014
Austria/SEE: Crucial Days for Hypo Group’s Future
Today the supervisory board of ailing Hypo Group is gathering to determine the financial gap of Hypo Group and the amount required to complete the balance sheets for 2013. Moreover, a decision about the SEE network will have to be made.
March 14, 2014
CEE: Investments to Boost Economic Growth
In the coming two years economic growth in Eastern Europe is expected to accelerate to an average of two to three percent of GDP triggered by a boost in investments.
March 13, 2014
Poland: “Time for Belt-Tightening”
Poland is required to cut the deficit in the public finance sector.
March 13, 2014
Austria: Bawag to Pay Back State Capital
Bawag is expected to pay back the entire public participation captial tomorrow. The assets are urgently required for recapitalizing Austrian problem bank Hypo Group.
March 13, 2014
Austria: Who Will Pay for Hypo Group?
In the dispute around who is to pay for problem bank Hypo Group Alpe Adria Chancellor Werner Faymann intends to negotiate with the Austrian provinces about a contribution to the bank levy.
March 13, 2014
RBI Rejects Rumors of Delayed Pay-Back of State Aids
RBI is expected to pay back € 1.75bn in public state aids.
March 12, 2014
Serbia: “Reforms Are Social Responsibility”
According to economic advisor and former director of the International Monetary Fund (IMF) Dominique Strauss-Kahn, Serbia’s efforts to improve state finances and push through with reforms, was visible.
March 12, 2014
Poland: Bank Pekao with Ambitious Plans
Polish lender Bank Pekao intends to reduce costs and risks, and raise the number of clients by around one million until 2020.
March 12, 2014
Hypo Group: Insolvency Still an Option?
The group of international advisors appointed by the Austrian government seems to have come to a different conclusion than the task force of Hypo Group Alpe Adria.
March 12, 2014
Poland: Changes in Monetary Policy to Come Gradually
Polish macroeconomic conditions support a stabilization of monetary policy, according to Anna Zielinska-Glebocka, member of the Monetary Policy Council.
March 12, 2014
Bank Austria to Focus on Growth Markets in the Future
Because of the high value of write-offs Bank Austria, CEE affiliate of Italian UniCredit, had to face record losses amounting to € 1.6bn. CEO Willibald Cernko, however, does not consider the bank having made any mistakes in the past.
March 12, 2014
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