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

Banks Striving to Leave Ukraine

While Austrian insurance companies intend to stay on the Ukrainian market banks are facing write-offs running in the billions.

March 5, 2014

Czech Republic: Raiffeisen Withdraws from Pension Insurance Business

Pension insurance company Raiffeisen penzijni spolecnost will terminate business activities on the Czech market for private pension schemes, as announced by the company in a press release.

March 4, 2014

Poland: Takeover of Nordea Bank Polska Granted

PKO BP, leading bank in Poland, was given green light by the financial market regulator KNF to take over Nordea Bank Polska, as announced in a statement by KNF.

March 4, 2014

Austria: Controversies Around “Council of the Wise“

Finance Minister Spindelegger claims the appointing of the “Council fo the Wise” for problem bank Hypo Group Alpe Adria was the idea of Chancellor Faymann.

March 4, 2014

Poland: Banks Expected to Preserve Ratings

According to US rating agency Standard&Poor;’s, Polish banks will be able to keep their credit ratings this year.

March 4, 2014

Hypo Group: Decision about Downsizing Expected Soon

At the beginning of next week the final report for the planned downsizing of Hypo Group will be presented.

March 4, 2014

Slovenia: NLB to Break Even in 2014

As part of the restructuring plan, the Slovenian bank is closing branch shops all over the country and downsizing its personnel.

March 4, 2014

Raiffeisen Bank International Postpones Sale of Ukrainian Affiliate

Due to the extremely tense situation in Ukraine, the second-largest lender in CESEE (Central, Eastern and Southeastern Europe) has stopped the sale of Aval Bank.

March 3, 2014

Poland: Lending Activity to Increase Significantly

Lending activity in the Polish finance sector is expected to increase significantly this year.

March 3, 2014

Austria: Solid Growth and Recovery in Industrial Industry

Austria’s industrial recovery continues.

March 3, 2014

Hypo Group: Risk Identified Already in 2009

Three months after a report on the risk and susceptibility to fraud of Hypo Group’s leasing affiliates was published by PwC, ailing Hypo Group was nationalized.

March 3, 2014

„Austria Needs an Excellent Minister of Finance“

Andreas Treichl, CEO of the third-biggest lender in Central, Eastern and Southeastern Europe expressed subtle doubt as to whether Michael Spindelegger is the right person for the job.

March 2, 2014

Treichl: „Not Afraid of Hypo Group Bankruptcy“

Andreas Treichl, CEO of Vienna-listed Erste Group does not think that a potential bankruptcy of the nationalized lender Hypo Group Alpe Adria would affect Erste Group´s rating.

March 1, 2014

Hypo Group: Five Potential Buyers for CESEE Affiliates

Alexander Picker, CEO of the nationalized bank Hypo Group Alpe Adria, is optimistic that the affiliates in the Western Balkan countries may be sold until the end of 2014.

March 1, 2014

Polish Currency Suffers from Instability in Ukraine

The Polish Zloty has become weaker because of the political instability in Ukraine.

February 28, 2014

Austria/Ukraine: Bank Accounts of Former Leading Politicians to be Frozen

Austria imposes unilateral sanctions against 18 members of the overthrown Ukrainian regime. Among the high-ranking officals are former president Viktor Yanukovych and his son Oleksander Yanukovych.

February 28, 2014

Hypo Group: Decision about Future Delayed

The decision about the future of Austrian problem bank Hypo will be delayed.

February 28, 2014

Hypo Group: “Worst Thing If Government Does Not Make Decision”

According to Felderer, President of the Fiscal Council, a downgrade in the country rating must not be taken “too seriously”.

February 28, 2014

Austria: Bank Accounts of Ukrainians to be Frozen

At the instigation of the new Ukrainian government Austria will freeze the bank accounts of 18 Ukrainians at domestic banks until further notice.

February 28, 2014

Erste Group: Profits Decline

Erste Group posts net profit of EUR 61.0 million in 2013 and improves capital ratios.

February 28, 2014

Poland: PKO BP Takes over Nordea’s Insurance Division

Polish financial market regulator KNF has finally approved the takeover of life insurance company Nordea TUnZ by PKO BP.

February 27, 2014

Austrian Banks with Significant Exposure in Ukraine

Ukrainian crisis hits Western Banks in different state compared to 2008/09, according to RBI.

February 27, 2014

Hypo Group: New Figures Added to Number Games

The number games in regard to Hypo Group’s downsizing to not seem to cease. New figures will be released by the bank’s task force at the beginning of next week.

February 27, 2014

Slovenia: Economy Minister Rejects New Corporate Taxes

According to newly-appointed Slovenian Minister of Economy, Metod Dragonja, the main driver for economic growth is trade and exports. Instead of introducing new corporate taxes he calls for a fund for domestic enterprises.

February 26, 2014

Hypo Group Insolvency to Cost € 10bn at Least

Taxpayers in Austria would be burdened with at least € 10bn if Hypo Group was sent into insolvency.

February 26, 2014

Poland: Fastest Growing Economy in EU

According to the EU Commission, Poland will see the fastest growth in 2014 among the largest former communist countries of the European Union.

February 26, 2014

Hungary: Customers Fleeced by Banks

For the first time in three years Hungarian commercial banks have returned to profitability. However, extra cost, caused by political circumstances, was passed on to clients.

February 26, 2014

Austria: National Assembley Rejects Investigation Committee

The parliamentary investigation committee for Hypo Group, demanded by the opposition parties, was rejected in a roll-call vote in the National Assembley.

February 26, 2014

Austria: Hypo Group Council to Strain Budget Even More

The Finance Ministry will appoint an international consulting team for the downsizing of nationalized problem bank Hypo Group Alpe Adria. However, costs are increasing dramatically by this step.

February 25, 2014

CNB Not to Stop Monetary Interventions Just Yet

Exchange rates in the Czech Republic will not go back to the state before monetary interventions were carried out by CNB.

February 25, 2014

Austria: “Council of the Wise“ for Hypo Group

Instead of a parliamentary investigation committee the coalition expressed its wish to appoint a “Council of the Wise” for the the assessment of the ailing bank’s nationalization.

February 25, 2014

The Bank Branch of the Future Already in its Beginnings

Since 2008 the branch network of banks in the Eurozone has been shrinking. Likewise, banks struggle for client contacts in order to increase the client base.

February 25, 2014

Ukraine: Austrian Banks Reopened Branches

After the political disaster in the Ukraine all bank shops in the country’s capital Kyiv have opened again on Monday.

February 25, 2014

Austrian Bank Secrecy to be Abolished by 2016

EU Commissioner Algirdas Semeta recently stated that bank secrecy in Austria will expire since by then the automatic exchange of information will be implemented as a standard.

February 24, 2014

Hypo Group: Nowotny Calls for Fast Proceeding

Newly designated head of Hypo Group’s task force, Governor of the Austrian National Bank (OeNB) Ewald Nowotny, calls upon the government to fastly proceed with the downsizing of the ailing bank.

February 24, 2014

Austria: Spindelegger under Attack

Finance Minister Spindelegger is under attack by former head of Hypo Group’s task force, Liebscher.

February 24, 2014

Slovenia: NLB Reports Losses in Business Year 2013

The biggest lender in Slovenia has amounted considerable losses because of having been forced to create loan loss provisions.

February 22, 2014

Hypo Group: Nowotny to Replace Liebscher

After Liebscher, head of Hypo Group’s task force, announced throwing in the towel Nowotny, Governor of the Austrian National Bank (OeNB), will become his successor.

February 22, 2014

Hypo Group: 35 Percent Say FPÖ Has Main Share of Blame

According to a survey conducted by Austrian news magazin “Profil”, 35 percent consider the Austrian Freedom Party (FPÖ) to bear the main share of the blame in regard to the financial disaster of Hypo Group.

February 22, 2014

Felderer: Insolvency More Expensive Than Bad Bank

According to Felderer, president of the fiscal council, the option of insolvency for Hypo Group Alpe Adria is more expensive than the establishing of a national bad bank

February 22, 2014

Austria: Investment Banker Part of Hypo’s Expert Group

A former investment banker is supposed to support Austrian government in the Hypo Group issue.

February 21, 2014

Austria: Head of Hypo Group’s Task Force to Resign

Klaus Liebscher, head of Hypo Group’s task force, steps down.

February 21, 2014

Government Examines Haircut of Hypo Group’s Investors

Ignoring the warnings of Hypo Group’s task force, Finance Minister Michael Spindelegger now wants investors in Hypo Group to participate in the restructuring of the ailing bank.

February 21, 2014

CEE Financial Markets under Pressure as Riots Continue in Ukraine

CEE markets under pressure as Ukraine violence heats up. Biggest direct risk to Polish Zloty, but also to Hungarian Forint and Romanian Leu.

February 21, 2014

RBI Closes All Affiliates in Kyiv

Because of the most recent violent outbreaks in Kyiv the Ukrainian affiliate of Raiffeisen Bank International (RBI) has closed its affiliates in the country’s capital

February 21, 2014

Serbia: Structural Reforms to Boost FDI

Recent projections of the National Bank of Serbia (NBS) forecast foreign direct investments (FDI) to increase to € 1bn this year up from € 750m.

February 21, 2014

Fitch Keeps Rating for Austria at High Level

According to the Rating agency the downsizing of Hypo Group will burden the debt rate. However, the outlook for the country’s credibility was left at a “stable” outlook.

February 21, 2014

Spindelegger: Taxpayers Should Not Carry Whole Load

Finance Minister Spindelegger declared himself in favor of a haircut of creditors of problem bank Hypo Group.

February 20, 2014

Austria: Rating Endangered

US-based rating agency Fitch will update its country rating for Austria tomorrow. Finance Minister Spindelegger is in favor of a haircut for investors of Hypo Group Alpe Adria.

February 20, 2014

Austrian Government Wants International Group of Experts

More and more voices for a parliamentary investigation committee for ailing bank Hypo Group Alpe Adria are being raised even within the SPÖ and the ÖVP. However, the government has other plans.

February 20, 2014