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Vienna International Financial Services Industry News
Read the latest headlines about the Viennese and Austrian financial services industry
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The Consequences of the COVID-19 Pandemic for Austria's Economy
The consequences of COVID-19 pandemic continue to determine economic activity in Austria and the banks’ higher resilience has been key to COVID-19 response.
November 29, 2021
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Anadi Bank: Former Deutsche Bank Board Member Becomes New Board Member for FinTech
Alp Dalkilic, a former board member at Deutsche Bank, has been appointed to the Management Board at Anadi Bank. Dalkilic is primarily responsible for the bank's FinTech strategy. Read more about Dalkilic and Anadi Bank.
November 5, 2021
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Money Laundering, Tax Offenses and Terrorist Financing on the Rise
The Austrian Ministry of the Interior reported an increase in money laundering, tax offenses, and terrorist financing in 2020. Read more details about this disturbing trend and its causes.
November 4, 2021
Wealth Management: Schelhammer Capital Bank Becomes Austria's Leading Private Bank
Bankhaus Schelhammer & Schattera AG and Capital Bank - GRAWE Gruppe AG have merged to form Schelhammer Capital, the strongest private bank in Austria. Read more about the newly created bank and what Chairman of the Board Christian Jauk said about the merger.
October 4, 2021
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Joint Vienna Institute: Patrick Imam Succeeds Holger Flörkemeier
Patrick Imam joined the JVI - Joint Vienna Institute as Deputy Director. Having joined the International Monetary Fund (a party to the Agreement for the Establishment of the JVI) in 2005, he has held positions in the Middle East and Central Asia as well as the African Department (Zimbabwe and Madagascar), the IMF Institute and the Monetary and Capital Markets division. His predecessor Holger Flörkemeier was the JVI Deputy Director for the last four years. On the occasion of his departure, the JVI interviewed him and asked him to share his experience and views on the JVI.
September 28, 2021
The 250th Anniversary of the Vienna Stock Exchange
The Vienna Stock Exchange recently celebrated its 250th anniversary since it was founded by Maria Theresa. Minister of Finance Gernot Blümel congratulated the stock exchange on its anniversary and advocated for the implementation of a government program and retention periods to incentivize Austrians to invest in the domestic economy. Minister Blümel and Vienna Stock Exchange CEO Christoph Boschan both advocated for educating the public on financial topics. Read more about the Vienna Stock Exchange and what the pair said on its anniversary.
September 14, 2021
1.8 Million Euro Seed Funding for Austrian Crypto Investment Start-up
The cryptocurrency investment start-up Coinpanion is receiving € 1.8 million in seed investments from well-known investors in Austria and Germany. The lead investor is the German High-Tech Gründerfonds (HTGF), one of the most active venture capital funds on the European market. Read more about the start-up and those investing in it.
September 2, 2021
Wirecard Scandal: Marsalek Confidant Arrested in Singapore
A close confidant of the Austrian-born former Wirecard board member Jan Marsalek, who is wanted on an international arrest warrant, has been arrested in Singapore. Briton Henry O'Sullivan is considered a close confidant of Marsalek and plays an alleged key figure in the multi-billion Wirecard fraud scandal.
September 1, 2021
Are "Green Bonds" also Coming to Austria?
At the European Forum Alpbach, Austrian Finance Minister Gernot Blümel announced that Austria wants to issue a so-called "green bond" in the first half of 2022. The Ministry of Finance and Federal Financing Agency (OeBFA) have already completed the necessary technical work to issue the bonds. Read more about "green bonds" and Austria's plans to begin issuing them.
September 1, 2021
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ÖBAG: Attorney Edith Hlawati to Succeed Thomas Schmid
The Supervisory Board of Österreichische Beteiligungs AG (ÖBAG) has appointed the internationally recognized business lawyer Dr. Edith Hlawati as the new Chief Executive Officer of ÖBAG. She will succeed Thomas Schmid and take over the management of the state holding on 1 February 2022. Learn more about her and the selection process.
August 30, 2021
The Chamber of Commerce Switzerland-Austria-Liechtenstein Turns 100 Years Old
The Chamber of Commerce Switzerland-Austria-Liechtenstein or Handelskammer Schweiz-Österreich-Liechtenstein (HKSÖL) has supported economic relations between the countries for 100 years. They provide professional assistance to companies in these countries and Central and Eastern Europe. The HKSÖL has facilitated a particularly successful economic relationship between Austria and Switzerland. Read more about what the HKSÖL does and the Austro-Swiss economic relationship.
August 27, 2021
Digital Pandemic: Interior Ministry Warns About Fraudulent SMS
The Ministry of the Interior led by the Interior Minister, Karl Nehammer, is warning about fraudulent SMS circulating in Austria. The scam aims to trick people into installing malware on their mobile phones by providing a link to an alleged missed voicemail message. Learn how to protect your device and what to do if your device is infected.
July 26, 2021
What Is the Joint Vienna Institute and What Does It Do?
The Joint Vienna Institute (JVI) is a Vienna based International Organization which provides policy-oriented training primarily to public sector officials from countries in Central, Eastern and Southeastern Europe, the Caucasus and Central Asia, and other selected countries. It has been a hallmark of cooperation between the IMF and Austria for 29 years. Find out how the institute justifies its existence.
July 22, 2021
Arab Ambassadors in Vienna and Economic Relations between their Countries and Austria
The Ambassadors from Egypt, Iraq, Jordan, Morocco, Oman, Palestine, Qatar, Tunisia, and the UAE to Austria provided an economic overview of their countries and their relationship with Austria in an online forum with the Austro-Arab Chamber of Commerce (AACC).
July 11, 2021
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Vienna Stock Exchange: New Calculation Technology Increases Quality
The Vienna Stock Exchange (Wiener Börse AG) has implemented a new index calculation technology, called "Vienna Index Engine" (VIE). The new software will allow even higher processing speed and stability for indices available on the exchange, which will also benefit more than 140 global financial institutions that rely on the indices of the stock exchange.
February 9, 2021
Vienna Stock Exchange: Herrmann Joins Boschan and Koblic on the Management Board
The Vienna Stock Exchange (Wiener Börse AG) has announced that its Supervisory Board has decided to appoint Andrea Herrmann as a third member of the Management Board (CFO).
February 4, 2021
"Ronaldo of Investment Banking" Becomes New CEO of Bank Austria Parent Company
The Board of Directors of UniCredit SpA, which owns 96.35% of Bank Austria, unanimously nominated "deal junkie" Andrea Orcel as designated CEO to replace the outgoing CEO, Jean Pierre Mustier.
January 31, 2021
Influential OPEC Fund Celebrates 45th Anniversary
The Vienna-based OPEC Fund for International Development marks its 45th anniversary today. Since inception in 1976 by the Member States of OPEC, the multilateral development finance institution has approved more than US$25 billion in essential financing for 135 partner countries.
January 28, 2021
Increase of Budget for Investment Subsidies to EUR 2 Billion
The Austrian Government has announced a budget increase for investment subsidies. A high demand and investment volume in the first three weeks of the application period has lead to this decision that is welcomed by the Federal Chamber of Commerce.
September 23, 2020
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Foreign Trade Has Partially Recovered from Crisis
According to the latest report from Statistics Austria, imports and exports are only slightly behind last year's number indicating an upwards trend after Covid-19 has impacted foreign trade significantly.
September 8, 2020
WKO Secretary General: Labor Market Situation Improves, But Remains Great Challenge
The secretary general of Austria's Federal Chamber of Commerce WKO recognizes a slightly positive trend in the labor market but underlines the importance of ongoing and future economic measures.
September 7, 2020
Economic Sentiment in Austria and the EU Brightened Further in August
Businesses and the population of the EU still have below-average economic sentiment although the expectations improved over the last month. The sharp decline due to Covid-19 is made up by about 60 % already.
August 31, 2020
Financial Assets of Austrians Back at Record Level After Slump
Austrians have never been richer than today. Private financial assets have recovered and improved after a significant decline in the first quarter of 2020 due to Covid-19.
August 25, 2020
Vienna Based UNIDO Holds Expert Panel to Discuss Developments in Industry and Society
The United Nations Industrial Development Organization hosted an expert panel about the future of industry and society. Main topics were the advancement of attaining the sustainable development goals and shaping society as a whole.
August 21, 2020
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New Chief Financial Officer at Allianz Group Austria
German-born Anne Thiel (49) is to take over as CFO of Allianz Group Austria on September 1, 2020. She succeeds Eva Meyer-Schipflinger, who will take over a global management position at Allianz SE in Munich.
May 30, 2020
Austria Agrees to ESM Pandemic Crisis Support
The National Council has given its approval for financial aid within the framework of the ESM. Specifically, Finance Minister Blümel was authorized to approve a decision in the ESM Board of Governors to grant corona financial aid to all applicant ESM member states within the framework of the ESM Pandemic Crisis Support.
May 14, 2020
Financier Ronny Pecik Appointed Chief Executive Officer of Immofinanz
Croatian-Austrian star investor and largest single investor becomes CEO of commercial real estate group Immofinanz AG.
April 23, 2020
Patrick Zehetmayr Appointed Boss of Erste Group's Commercial Real Estate Activities
The Salzburg native, who has almost 30 years of experience in banking and real estate business with Erste Group, was chosen to lead Erste's commercial real estate coverage and financing.
February 19, 2020
Buy Local - Invest Global: How to Invest Your Money on the Vienna Stock Exchange
Expats in Austria now have access to over 680 internationally sought-after securities from 26 countries at local conditions.
October 25, 2019
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New Meinl Bank to Pay 36 Million Euro to Damaged European Land Investors
The legal successor to Meinl-Bank, AAB Anglo Austrian Bank AG, will pay around EUR 36 million to settle the claims of the remaining investor proceedings of approx. 4,000 investors of the former MEL Meinl European Land. Simultaneously, AAB starts a repositioning in which the credit business and the payment transactions are to be reduced, while the advisory business and investment banking are to be focused on.
August 27, 2019
RBI: Significant Decline in Profits in the First Half of 2019
Stock Exchange-listed RBI Raiffeisen Bank International recorded a significant 25% decline in profits in the first half of 2019. The consolidated profit generated was only €571 million, compared to €756 million in the first half of 2018.
August 8, 2019
Meinl Bank Rebranding - Anglo Austrian Bank Launches with Negative Result of EUR 4.5 Mio
As part of a rebranding, Meinl Bank of Julius Meinl V (59) has renamed itself Anglo Austrian Bank and is relaunching its operations in Vienna with 49 employees in order to respond to the increased demand for qualified asset management in the countries of the former Danube Monarchy and to provide clients with a bridge to the countries and financial markets of Western Europe.
June 28, 2019
So What Does the Future Hold for the Eurozone?
The Eurozone between crisis and reform. At the Austrian Academy of Sciences, the renowned European financial experts Agnès Bénassy-Quéré, Klaus Regling, Elke König and Josef Zechner discussed the structure, challenges and necessary financial market reforms within the euro zone.
June 28, 2019
Largest Chinese Bank Opened Branch Office in Vienna
China's largest bank, ICBC - Industrial and Commercial Bank of China was officially commenced for business in Vienna. Mr. Li Zhanshu, Chairman of the Standing Committee of the National People's Congress, who was on an official visit in Austria attended the opening ceremony of ICBC Austria Bank GmbH (ICBC Austria).
May 28, 2019
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Mobile Bank N26 Invests in Tech Centre in Vienna
Germany's mobile bank N26 plans to hire more than 300 software engineers, product managers and IT specialists in Vienna in the long term and up to 100 in the medium term. The office is scheduled to open in autumn 2019, and specialists will be recruited with immediate effect.
April 26, 2019
Sberbank Europe Generates Net Profit of EUR 34 Million
Vienna based Sberbank Europe looks back at its best annual result since the acquisition of Austrian Volksbank International in 2012.
April 11, 2019
Organized International Cum-Ex Tax Fraud in Austria - 183 Million Euros Damage
In connection with dividend stripping, the tax fraud model "Cum-Ex" was created, which deliberately allows the multiple refund of capital gains tax paid only once. According to a report in today's Ö1-Morgenjournal, presumably mainly Arab investors, in cooperation with domestic financial advisors and banks, caused Austrian taxpayers a loss of 183 million euros.
April 9, 2019
Vienna Stock Exchange: High Dependence on UK Traders
In 2018, around 60% of the equity turnover on the Vienna Stock Exchange came from UK trading participants. Hence equity turnover declined by 16.3% compared to the previous year. The most active stocks were Erste Group, OMV and Voestalpine. The SME segment "direct market plus" started with 8 companies, including 4 new listings.
April 3, 2019
International Financial Institutions World Bank Group and IMF Expand Presence in Austria
Important success for Austria's business location policy. According to media reports, the IMF International Monetary Fund will move to Vienna in June, while the World Bank Group will double the staff and size of its Vienna office.
March 29, 2019
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Austria Strengthening Venture Capital Structures with Seoul and Shanghai
Margarete Schramböck, Austrian Federal Minister for Digitisation and Business, visited Seoul, the capital of South Korea and China's greater Shanghai metropolitan area, together with a high-ranking delegation of experts from the fields of digitisation, science and business, with the aim of strengthening Austria as a location for innovation.
November 9, 2018
British-Indian-Austrian Anadi Bank Remains on Growth Course
The former Austrian branches of Hypo Alpe-Adria-Bank International were bought by Indian Investor Sanjeev Kanoria and transferred to British-Indian-Austrian Anadi Bank in 2013. The bank continues its successful growth course in the first half of 2018, although the result from ordinary business activities declined by 37% and profit after tax by 42% compared to the same period of the previous year. The bank describes itself as a bank with the strengths of a tiger. The Anadi Tiger establishes, on the one hand, a symbolic connection to India, on the other hand, he embodies strength, speed, security and flexibility - qualities that the bank expects from itself. Also, Anadi means “eternal” in Hindi and stands for tradition, reliability, and sustainability.
September 7, 2018
Sonja Sarközi Appointed New CEO of Sberbank Europe
Sonja Sarközi, currently Chief Retail Banking Officer of Sberbank Europe, has been appointed as new CEO by the supervisory board. She will succeed Gerhard Randa as of 1 July 2018.
May 29, 2018
Raiffeisen Centrobank: Yearly Financial Report 2017
Raiffeisen Centrobank AG is declaring the following financial reports below.
April 26, 2018
Austrian Financial Market Authority Is Pleased With Whistle-Blowing System
In 2017 whistleblowers made 158 tip-offs regarding misconduct in the Austrian financial market. The FMA has been operating a special IT-based whistleblowing system since 1 February 2014 that allows the anonymous receipt of confidential information about possible instances of malpractice in supervised entities. FMA Executive Board: “Our whistle-blowing system is an important source of information for the FMA.”
April 20, 2018
Immigon Portfolioabbau AG: Yearly Financial Report 2017
immigon portfolioabbau ag is declaring the following financial reports below.
April 20, 2018
C-Quadrat Streamlines Corporate Group Structure
C-Quadrat plans to spin off the business operations of C-Quadrat Wealth Management GmbH (formerly: C-Quadrat Kapitalanlage AG) to ARTS Asset Management GmbH, in which the company holds a 45% stake. In return, societal profit participation rights ("sozietäre Genussrechte") will be granted to the company instead of additional company shares.
April 19, 2018
Austria's Capital Market for SMEs on the Brink of a Renaissance
Finance Minister Hartwig Löger plans to revive the Austrian capital market for SMEs by making trading of bearer shares of Austrian companies on the Third Market possible again.
April 11, 2018
C-Quadrat: Yearly Financial Report 2017
C-Quadrat Investment AG is declaring the following financial reports below.
April 6, 2018
Money Laundering: RBI Is Fined EUR 2.7 Million
The Austrian Financial Market Authority (FMA) has imposed the highest fine ever imposed by the FMA, i.e. a fine of EUR 2.748 million against Raiffeisen Bank International AG.
April 1, 2018
Expat Advise: How Does the Austrian Tax and Social Security System Work?
If you are moving to Vienna as an expat or are already living here with employment income and want to find your way around the complicated Austrian tax and social security system, Vindobona recommends attending an interesting event organised by the Vienna Business Agency and Deloitte Austria.
March 22, 2018
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