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Italy in Austria | Italians in Vienna | Bilateral Relations

Hypo Group to Shut Down Subsidiaries in Italy

Until the end of this year five subsidiaries in Italy will be closed.

May 6, 2014

Bulgaria: Banking Sector Getting Back on Feet Again

In the first quarter this year profits of the Bulgarian banking sector grew by 34 percent.

May 2, 2014

Bank Austria: “Russia is Still Profitable”

According to Vice CEO of Bank Austria and head of business operations in CEE Gianni Franco Papa, business in Russia is not yet affected by the political crisis in Crimea.

May 2, 2014

Hypo Group Further Losses to Be Expected

Huge losses by the sale of the SEE banking network could be expected.

April 30, 2014

Situation for Austrian Banks in Russia is “Sensitive”

According to the latest statistics, Austrian banks are considerably more engaged in Russia than assumed so far. Debts to domestic financial institutes amount to € 50bn.

April 29, 2014

Austrian Banking Sector Making Losses

For the first time in 2013, the Austrian banks made losses in the amount of € 1.035bn.

April 29, 2014

Do Taxes Justify a Relocation of Business?

Tax sensitive business operations should be relocated to other areas if necessary, according to the head of Erste Bank Austria.

April 24, 2014

Slovenia: List of Debtors of NLB Published

The Slovenian bad bank BAMC (Bank Asset Management Company) has published the list of debtors of the country’s two largest banks, which are responsible for the disaster of the state-controlled banks.

April 23, 2014

UniCredit: Common Bad Bank with Intesa Sanpaolo?

The parent company of Bank Austria may create a common bad bank with its Italian competitor Intesa Sanpaolo. The bad bank may be sold later on.

April 22, 2014

Hypo Group: Italian Branch Turns Out a Huge Problem

According to CEO Picker there were more “skeletons in the closet than expected” which led to huge losses for the ailing bank. The Italian network may have to be downsized.

April 17, 2014

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

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

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

Hypo Group Alpe Adria: Massive Losses in Italy

Last year, the distressed Austrian lender recorded losses in the amount of € 2.7bn. In Italy, losses were highest.

April 11, 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

Austria: Fitch Warns Banks of Risk with Business in Russia

The menacing sanctions against Russia with regard to the political crisis in Crimea could become a severe danger for Austrian banks.

April 1, 2014

Czech Republic: Banks’ Net Profits Decline

The majority of large banks operating in the Czech Republic have to face profit losses for the business year 2013.

April 1, 2014

Austria: Industrial Production Loses Momentum

Austrian industry loses some momentum after strong growth at the start of the year.

March 28, 2014

RBI to Keep Hungarian and Ukrainian Affiliates?

Raiffeisen Bank International (RBI) considers keeping its affiliates in Hungary and Ukraine.

March 27, 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

Hungary: Jurisdiction Affects FX Loans and Banks

Hungary’s constitutional court will exert influence on FX loans.

March 18, 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

Losses Running into the Billions for Bank Austria

Bank Austria’s results for the 2013 financial year.

March 11, 2014

Hypo Group: Further State Aid Necessary This Year

Finance Minister Spindelegger fears that nationalized problem bank Hypo Group Alpe Adria will require further state aids for its downsizing still within this year.

March 10, 2014

S&P: European Banking Sector Faces Worse Ratings

According to the rating agency, the public support for the European banking sector is essential in many cases. Without financial support, banks might be downgraded.

March 5, 2014

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

Austria: Solid Growth and Recovery in Industrial Industry

Austria’s industrial recovery continues.

March 3, 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

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

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

Hypo Disaster: Who Are the Beneficiaries?

International investment companies, funds and domestic banks are the major recipients of the billions of Euros in the Hypo Group disaster.

February 19, 2014

Austria: Economic Upturn Still in Standby-Mode

According to the analysis of the economic indicator of Bank Austria, there is moderate growth and hope for the first quarter in 2014.

February 17, 2014

Threat of Bankruptcy: Moody´s Cuts Hypo Group Alpe Adria´s Rating

The U.S. rating agency downgrades the rating of the Austrian nationalized lender by four notches. Moody´s referred to the uncertainty and the vague statements of the Austrian government.

February 15, 2014 · Updated: February 15, 2014; 18:47

Cernko: Wealthy to Support R&D in Austria

The CEO of Bank Austria calls upon the Austrian government to take into consideration the funding of research and development by wealthy individuals and regard this as part of their “tax duty”.

February 12, 2014

Ukraine: Tough Market for Foreign Banks

The coming two years will be challenging for foreign banks operating in Ukraine.

February 11, 2014

ECB Wants to Supervise All Banks

For the European Central Bank, the current authority does not go far enough. The ECB wants to control all 6,600 banks in the Eurozone.

February 8, 2014

Sale of Bad Assets: UniCredit Under Pressure

The parent company of Bank Austria, the Italian lender UniCredit, wants to sell its risky assets as soon as possible. Insiders report that UniCredit wants to sell its “bad bank”.

February 8, 2014 · Updated: February 8, 2014; 14:12

Hypo Group Alpe Adria: Bankruptcy Would Affect Foreign Investors

In case of an unorderly insolvency of the Austrian nationalized lender, not only Austrian creditors would have to absorb losses. The majority of the bondholders are German and Swiss investors.

February 6, 2014

OTP: Takeover of Croatian Banco Popolare Fixed

On Friday Hungarian OTP signed a deal to take over Croatian affiliate of Italian Banco Popolare.

January 31, 2014

VIG to Do Up Romanian Division

Difficulties in Romania and Italy for Vienna Insurance Group (VIG) lead to a massive decline in profits.

January 29, 2014

Austria: Debt Rate Rises Unstoppably

In the third quarter last year the Austrian public debt rate increased significantly compared to the previous quarter.

January 22, 2014

Erste to Maintain Business in Hungary

According to CEO of Erste Group’s Hungarian affiliate, the bank will remain in the country to expand business activity.

January 21, 2014

Erste Group: Moderate Economic Recovery in Eurozone

Euro area sentiment indicators point to a continuation of the moderate recovery, according to Erste Bank.

January 20, 2014

Austrian State Sues Six Banks

The Republic of Austria filed lawsuits against six lending banks of bankrupt construction enterprise Alpine.

January 17, 2014

$ 1.0trn Capital Shortfall in European Banking Sector?

According to U.S. economists, the stress tests carried out by the European Central Bank are too soft.

January 16, 2014

Bulgaria: Loan Portfolios Expected to Increase

The increase in industrial production will have a positive effect on the number of loans taken out.

January 16, 2014

Expansion Course of Austrian Banks Slowed Down

After the financial crisis cooled down the expansion course of Austrian banks in CESEE countries was dampened down.

January 16, 2014

Bank Austria Declines Selling Plans in Ukraine

CEO of Bank Austria, Gianni Franco Papa, rejects rumors about Bank Austria intending to leave the Ukraine.

January 14, 2014

CESEE: Number of NPL Declining

According to a study by Bank Austria, the number of bad loans is declining in Central and Eastern Europe.

January 14, 2014

Bank Austria Generates Fresh Capital

On Monday, January 13, UniCredit Bank Austria issued its first mortgage bond for 2014 to strengthen its capital base.

January 14, 2014