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Vienna International Banking Industry News
Read the latest headlines about developments in the international banking industry in Vienna and Austria
Slovenia: PM Bratusek Confident About Tackling State Debts
Even though the country is expected to issue new state bonds next year to tackle state debts Prime Minister Alenka Bratusek suggested that Slovenia does not require loans immediately.
December 23, 2013
Austria: Bank Rescue Massive Burden for Public Finance
In total, costs of the Austrian banking package come at € 6.75bn. Expenses are only partially covered by revenues.
December 21, 2013
VBAG: Call for Further State Aids Likely
The Austrian VBAG (Volksbanken AG), top institute of the Volksbanken sector, still has a substantial capital shortfall.
December 21, 2013
CESEE: Dependence on Foreign Demand Remains Main Obstacle
In 2014, Central, Eastern and Southeastern Europe (CESEE) faces a slight upward trend. The structural difficulties persist, however.
December 21, 2013
New CEO at BCR Asigurari de Viata
Sorin Mititelu was appointed as new CEO of Romanian BCR Asigurari de Viata.
December 21, 2013
Rothensteiner: Austrian Sovereign Debt Rating Includes Bank Bail-Out
Unlike the rating agency Moody´s, head of RZB (Raiffeisen Zentralbank) Walter Rothensteiner thinks that the Austrian sovereign debt rating is not endangered by the nationalized banking sector.
December 20, 2013
Austria: Slight Lending Growth
The Austrian National Bank (OeNB) rejects reports on credit shortages. In contrast to the Eurozone, Austria´s banking industry expands lending.
December 20, 2013
Austria: Rules for Bank Tax to Be Changed
The governing parties call for changes in the bank tax which would increase the burden of some Austrian banks.
December 20, 2013
Austria: New CEO for Hypo Group Alpe Adria
The search for a new CEO for Hypo Group has ended. On Friday the bank has found a new head of the management board since the position was vacant after Gottwald Kranebitter’s resignation this summer.
December 20, 2013
Austria: VBAG May Require Further State Aid
Partially nationalized VBAG is expected to post losses of more than € 200m.
December 20, 2013
Slovenia: Budget Shortfall Greater than Expected
As per the end of November the country’s budget deficit amounted to almost € 1.62bn, according to the latest estimates by the Finance Ministry.
December 20, 2013
Czech Republic: Economic Sentiment Rises
As published by the Czech Statistical Office (CSU), the Czech economic sentiment indicator rose by one point to 5.5 points compared to November.
December 20, 2013
Bulgaria: Economic Upturn Not Sooner Than 2015
As reported by Bulgarian daily Standart, an economist at World Bank pointed out that the country has not yet reached the economic situation of before the start of the financial crisis in 2008.
December 20, 2013
Austria: Options of Bad Bank for Hypo under Examination
Finance Minister Spindelegger intends to meet with experts to discuss options of a bad bank for Hypo Group Alpe Adria.
December 20, 2013
Austrian SME Suffer from Credit Shortage
The real economy benefits only partly from the low interest rates. According to Creditreform, borrowing becomes more and more difficult for small and medium-sized enterprises.
December 20, 2013
Slovenia: EU Commission Approves Bank Aid
On Wednesday the European Commission has approved state aid for five Slovenian banks.
December 19, 2013
Austria: S&P Keeps Rating Unchanged
The U.S. rating agency confirms the “AA+” rating for Austrian sovereign bonds. An upgrade is unlikely in the next years.
December 19, 2013
Banking Union Completed
The Finance Ministers of the Eurozone have reached a compromise on the last pillar of the banking union. The deposit protection mechanism will come into power in 2015.
December 19, 2013
Slovenia: Growth Forecast Cut Again
The World Bank predicts a longer recession in Slovenia. The Slovenian economy will not leave the recession behind before 2015.
December 19, 2013
Hypo Group´s Bankruptcy: Major Threat for Raiffeisen Sector
In case of Hypo Group Alpe Adria´s bankruptcy, the Austrian banking sector would have to absorb enormous write-offs. Above all, mortgage institutions in the Raiffeisen sector would be endangered.
December 19, 2013
World Bank Increases Economic Growth Forecast for Poland
The World Bank has increased economic growth in 2013 from 1.0 percent to 1.5 percent.
December 19, 2013
Stable Outlook for CESEE Banking Industry
According to the U.S. rating agency fitch, the sector outlook remains stable in Central, Eastern and Southeastern Europe. However, the well-known risks and weaknesses will persist.
December 19, 2013
Macedonian Banks Should Support Private Sector
Deputy Prime Minister and Finance Minister Stavreski calls upon Macedonian banks to support the private sector.
December 18, 2013
Serbia: National Bank Cuts Key Policy Rate
The NBS decided to cut key interest rate by half a percentage point as inflation remains on the lower target tolerance band.
December 18, 2013
Slovenia: Three Arrestments at NLB
According to Slovenian authorities, three persons in the bank’s environment were arrested because of alleged malpractice.
December 18, 2013
RBI CEO under Suspicion of Prosecution against Corruption
Karl Sevelda, CEO of Raiffeisen Bank International (RBI), is suspected of having sold company’s shares of a commodity trader below their value. The prosecution in Vienna is now searching Sevelda’s office.
December 18, 2013
Hypo Group: Take-Over Almost Completed
British-Indian Anadi Financial Holding had to wait for months until the take-over of Austrian Hypo Group Alpe Adria was approved.
December 18, 2013
Czech Republic: Rusnok to become CNB Board Member
Outgoing Prime Minister Jiri Rusnok will be appointed new board member of the Czech National Bank (CNB) by President Milos Zeman.
December 18, 2013
Hypo Group Insolvency: Total Damage of € 26bn
Ewald Nowotny, governor of the Austrian National Bank (OeNB), warns of follow-up costs in case of a bankruptcy of the Austrian nationalized lender.
December 17, 2013
Austrian Banks: “Less than No Interest” in Bad Bank Participation
According to Felderer, Austrian major banks have “less than no interest” in a participation of a Hypo Group’s bad bank.
December 17, 2013
Austria: Major Banks Exhibit Significant Shortages in Core Capital Quota
Both Erste Group’s and RBI’s core capital quota is below the European average.
December 17, 2013
Banking Union: Bank Resolution as Hot Topic
The Finance Ministers of the Eurogroup countries are discussing the future of the banking union in Brussels today.
December 17, 2013
PKO: Capital Base Improves
According to the European Banking Authority (EBA), the largest Polish bank could strengthen the capital position.
December 17, 2013
Erste Group to Reduce Goodwill
Erste Group reduces goodwill by about EUR 350 million.
December 17, 2013
Czech Republic: Lowest Increase in Public Debts in 17 Years
According to the government’s Funding and Debt Management Strategy, public debt should exceed CZK 2,000bn by the end of 2016.
December 17, 2013
Austria: Fate of Hypo Group Still Unclear
Only next year the fate of ailing bank Hypo Group Alpe Adria will be determined.
December 16, 2013
Hungary: Good News for Banks in Forex Proceedings
Banks operating in Hungary can feel relieved by the Supreme Court’s judgement.
December 16, 2013
Slovenia: Bad Bank to Operate Longer than Expected
According to executive director Mannson, the collecting and selling of non-performing loans would take at least ten to fifteen years.
December 16, 2013
Austria: Opening Balance Reveals Massive Mountain of Debt
Public debts exceed the federal assets by more than double the amount, as revealed by the opening balance published by outgoing Finance Minister Maria Fekter last weekend.
December 16, 2013
NBS: Moderate Rise in Inflation
Moderate rise of inflation expected by the National Bank of Serbia (NBS).
December 16, 2013
Bulgaria: S&P Downgrade Criticized Sharply
Bulgarian Minister of Economy Dragomir Stynev does not agree with S&P´s view on Bulgaria´s creditworthiness.
December 16, 2013
MNB Replaces Hungarian Banking Industry
In order to push economic growth rates, Hungary´s National Bank continues to support the subsidized loan program. The support should help to boost the construction of real estate.
December 14, 2013
Bank Austria`s Headquarter Sold
The Austrian investor Ronny Pecik has bought the headquarter building of the largest Austrian bank.
December 14, 2013
Austrian Banking Industry Has to Fear Bank Tax Increase
At the end of this week, the Austrian social democrats and the conservatives agreed on continuing their coalition. Although the fiscal strategy is not fully known yet, a bank tax increase is likely.
December 14, 2013
BayernLB to Keep Hungarian MKB Unit
BayernLB’s plans to seperate from loss-making Hungarian affiliate MKB were not put on hold. Instead, the German bank wants to continue to push forward with austerity measures and cut jobs.
December 14, 2013
Croatia: Privatization of HPB Fails
The privatization of the Croat Postal Bank (HPB) has failed for the time being. For the potential buyers, HPB is too risky.
December 13, 2013
Positive Respond to Slovenian Bank Recapitalization Plans
The European Bank for Reconstruction and Development responds positively to the results of the asset quality review of Slovenian banks and the corresponding plans of the government.
December 13, 2013
Capital Injection for Hypo Group Approved
In the general assembley of Hypo Group the path was cleared for a further capital injection in the amount of € 800m.
December 13, 2013
Slovenia Pushes Forward with Privatizations
In spite of the capital shortfall of € 4.78bn of the banks in Slovenia, the bank stress test was passed by the financial institutes.
December 13, 2013
Croatia: Erste Offer Rejected
Austrian Erste Group intended to aquire Croatian HPB. However, the offer was rejected by the Finance Ministry as the purchase price was considered too low.
December 13, 2013
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