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Eastern European Countries and Austria | Bilateral Relations

Bank Austria Ends Business on Crimea

One day after Ukrainian affiliate of Raiffeisen Bank International (RBI), Bank Aval, has terminated business on the peninsula Crimea, UniCredit’s Bank Austria announced closing down its affiliates permanently.

April 16, 2014

Poland: Excessive Deficit Procedure for Two More Years

The Polish government expects the EU Commission to cancel the Excessive Deficit Procedure in “less than two years” due to the measures applied so far the continuing of economic recovery.

April 16, 2014

Industrial Location Austria Losing Attractiveness

Among other things, labor costs and energy prices are too high, according to the Austrian Federation of Industries.

April 16, 2014

Austria: RLB OÖ Rows Bank on Threat to Leave

Last year regional lender RLB OÖ (Raiffeisen Landesbank Oberösterreich), part of Raiffeisen group, saw a decline of six percent in its balance sheet totals while the operating results increased by almost three percent.

April 16, 2014

S&P Upgrades Polish Banking Sector

Rating agency Standard & Poor’s has upgraded the Polish banking sector from “negative” to “stable”.

April 16, 2014

Slovakia as a Role Model?

In an interview with Austrian daily “Wirtschaftsblatt”, Tomas Malatinsky, Economy Minister of Slovakia, talked about budget discipline, investments and tax policy.

April 16, 2014

Erste Group Bank AG: Full Year 2013 Company Report has been Published by FriedlResearch

Published in April 2014, this report contains in depth information and data about Erste Group and its operations and markets. It contains a company overview, business and strategy description, financial ratios, valuation & forecasts, plus a SWOT analysis.

April 15, 2014

Serbian New Government More Efficient and Modern

The presidency of the Serbian Progressive Party (SNS), which gained a landslide victory in the recent parliamentary elections, has decided to create a coalition with the Alliance of Vojvodina Hungarians (SVM).

April 15, 2014

RBI Terminates Business on Crimea

The Ukrainian affiliate of Raiffeisen Bank International (RBI), Bank Aval, has terminated its business activity on Crimea.

April 15, 2014

Serbia: “Radical Measures” Needed to Tackle Grey Economy

Experts call for higher penalties to make tax evasion and gray economy less profitable and establish financial discipline.

April 14, 2014

Poland: No Tax Hike Required

According to Poland’s Finance Minister, a tax increase is not required this year.

April 14, 2014

Slovenia: Head of NLB Throws in Towel

On Friday France Ahar, President of the supervisory board of the biggest lender of Slovenia, state-controlled NLB, handed in his resignation.

April 14, 2014

„We Must Create A Free Trade Area with Russia“

Sebastian Kurz, Austrian Minister of Foreign Affairs, proposes a deepening of the economic co-operation between Russia and the EU.

April 12, 2014

Slovenia: Banka Celje Trying to Fend Off Bailout

The Slovenian lender is considering a capital increase to avoid national bailout.

April 11, 2014

Raiffeisen Branch to Leave Austria?

One of the provincial units of Raiffeisen Group, regional lender Raiffeisen Landesbank Oberösterreich (RLB OÖ), is considering relocating its headquarters to Germany.

April 11, 2014

Serbia’s Goal to Join EU until 2020 “Realistic”

According to former German Chancellor Gerhard Schröder, Serbia’s aim to become a member of the European Union until 2020 is realistic.

April 11, 2014

Poland: Number of Consumer Loans Increases

According to Polish credit bureau BIK, the number of granted consumer loans has reached a new record.

April 11, 2014

Vucic: “Not Afraid of Social Riots”

The future Prime Minister of Serbia underlined the necessity of reforms.

April 10, 2014

Moldova: Urgent Call for EU-Membership

Getting out of the zone of uncertainty and instability, this is the aim of the Moldovan Prime Minister Iurie Leanca.

April 10, 2014

Poland: Key Rate Kept on Hold

The Monetary Policy Council of Poland has kept the key interest rate on hold since it ended easening in July last year.

April 10, 2014

Poland: NBP Posts No Profits

In 2013 the Polish National Bank (NBP) posted no profit.

April 10, 2014

Erste Group to be Relocated to the Czech Republic?

CEO of Erste Group, Andreas Treichl, has informed Czech President Milos Zeman about the bank’s intention to move to Prague in the coming years.

April 9, 2014

Poland: Growth Forecast Raised Again

The International Monetary Fund has raised the forcast of GDP growth in Poland.

April 9, 2014

Serbia: Vucic Rejects Single-Party Government

Aleksandar Vucic, leader of the Serbian Progressive Party (SNS) and future Prime Minister, said on Tuesday that his party does not intend to govern on its own.

April 9, 2014

Poland: BZ WBK to Take Over Santander Consumer Bank

Bank BZ WBK was given the go-ahead by the Financial Market Regulator KNF to acquire a 60 percent stake in retail bank Santander Consumer Bank (SCB) from their joint parent bank Banco Santander.

April 9, 2014

S IMMO AG: Letting success in Sofia

The first quarter of 2014 brought encouraging successes in letting for S IMMO AG in Sofia, one of the company’s most challenging markets.

April 9, 2014

IMF Upgrades Growth for Slovenia

In its latest report the International Monetary Fund has raised its projection for GDP growth in Slovenia.

April 9, 2014

Fitch: Polish Rating Foundations Very Solid

As reported by news portal “Warsaw Voice”, rating agency Fitch considers the Polish credit rating foundations to be very solid.

April 8, 2014

Nikolic: “Russia Will Never Recognize Kosovo”

In an interview with Austrian daily “Presse”, Serbian President Tomislav Nikolic voiced his opinon on the political crisis on Crimea and the future about talks between Serbia and Kosovo.

April 8, 2014

Poland: Banks to Enhance Bond Issues

The Polish banks are expected to increase the value of bond issues in the next years.

April 8, 2014

Hungarian Electorial Law Supports Major Parties

Orban is the clear winner of the parliamentary elections in Hungary. He stressed that there are no more conflicts with the EU than any other member state had.

April 7, 2014

Serbia: Effective Measures for Economy

The Serbian Chamber of Commerce considers the measures for economic growth “a very big thing”.

April 7, 2014

RBI to Shut Down Affiliates on Crimea

The Ukrainian affiliate of Raffeisen Bank International (RBI) is closing all its affiliate on Crimea until mid-April.

April 7, 2014

Poland: No Danger of Deflation

According to Marek Belka, governor of the National Bank of Poland (NBP), there is not threat of deflation.

April 7, 2014

Hungary: Clear Victory for Orban

Today, Hungary has held parliamentary elections. Despite controversial and radical reforms, Prime Minister Orban was confirmed.

April 6, 2014

Czech Economy Recovers Slowly

In 2013, the Czech GDP was down for the second consecutive year. This year, the Czech economy is expected to expand by 1.4%.

April 5, 2014

ECB Puts Pressure on Hypo Group

The distressed Austrian nationalized lender has no access to the Eurosystem monetary policy credit instruments. About ten potential buyers might be interested in the Balkan lender.

April 5, 2014

Hungary: Orban Faces Re-Election

Tomorrow, Sunday, Hungary holds national elections. Despite the difficult economic frame conditions in Hungary, the centre-right government is expected to be confirmed for the next four years.

April 5, 2014

Poland: Volatility on Financial Market Decreased

The volatility on the currency market decreased in March.

April 4, 2014

More than Half of Serbians Aspire EU Membership

55 percent of the Serbian citizens are in favor of the country becoming an EU member.

April 4, 2014

Bosnian Billionaire to Acquire Hypo Group?

The Finance Ministry confirmed the announcement and is now examining the offer.

April 4, 2014

Poland: PKO BP to Help Finance Ukrainian Enterprises?

The biggest financial institute in Poland could get involved in a project financing Ukrainian businesses.

April 4, 2014

RBI: Economic Recovery Despite Geopolitical Tensions

Economic upswing vs. geopolitics.

April 4, 2014

VBAG: No State Aids in 2014

The restructuring of VBAG Group is supposed to be completed until 2017, as announced by the banking group. From currently 48 regional bank shops in Austria nine regional banks are supposed to remain.

April 3, 2014

Hungary: Fidesz Considered Winners of Elections

The governing party Fidesz under Prime Minister Viktor Orban is expected to become the clear winner of the parliamentary elections on Sunday.

April 3, 2014

Poland: NBP to Stabilize FX Reserves

The Supreme Audit Chamber NIK in Poland called upon the National Bank in Poland (NBP) not to increase in foreign-exchange (FX) reserves but stabilize its level.

April 3, 2014

Serbian Future Government Needs to Be “Compact”

According to the deputy leader of SNS, Aleksandar Vucic “shall introduce iron discipline in the Government.”

April 3, 2014

Hungary: OTP Approaches Acquisition of MKB

MKB, the Hungarian loss-making affiliate of German regional lender BayernLB, is approaching its acquisition by the biggest lender OTP.

April 3, 2014

Poland: Banking Industry Expects Improvement in Results

The Polish banking sector expects net profits to increase in 2014.

April 3, 2014

Serbia: New Government to Hold EU Accession Talks Regularly

The next government of Serbia will hold sessions with regard to the EU accesssion on a regular basis, as announced by Miscevic, chief EU negotiator of Serbia.

April 3, 2014