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Vienna International Professional Services Industry News

Immofinanz Files Lawsuit Against CA Immo

Immofinanz CEO Eduard Zehetner fulfilled his threat that the company would file a lawsuit against CA Immo and its subsidiary PHI. The complaint was filed with the commercial court in Vienna last Thursday, news magazine ‘profil’ reports in its Monday issue.

April 13, 2015

Athos Real Estate Switched to Vienna Stock Exchange Mid Market

Athos Immobilien AG joined the mid market exchange segment of Vienna Stock Exchange, which is supposed to offer greater flexibility. Apart from Athos Immobilien AG, the mid market currently lists ten further companies.

April 3, 2015

Vienna Stock Exchange: ATX Upswing Drives Up Equity Trading in Q1

The Vienna Stock Exchange has seen the strongest monthly equity turnover since August 2011. The average monthly trading volume to date in 2015 is EUR 5.04 billion which represents a gain of 26.61% over the average monthly trading volume of the year 2014 (EUR 3.98 billion).

April 2, 2015

Südtiroler Sparkasse Suffers EUR 231.1 Mln Loss in 2014

Savings association Sparkasse's South Tyrol unit suffered an EUR 231.1 million (USD 253 million) loss in 2014, CEO Gerhard Brandstätter and his deputy Carlo Costa said in a press release.

March 27, 2015

Erste Bank und Sparkassen Increase Operating Earnings by 16 Percent to EUR 947 Mln

Erste Bank und Sparkassen have concluded the year 2014 with a successful result. Operating Earnings increase from EUR 817.2 million to EUR 947.2 million.

March 6, 2015

Vienna Insurance Group Places EUR 400 Million Bond Issue

Vienna Insurance Group AG Wiener Versicherung Gruppe placed a subordinated bond with a volume of EUR 400 million with institutional investors.

February 18, 2015

UniCredit Private Banking Receives Euromoney Awards

UniCredit Private Banking has been recognized for its services, winning 14 awards in different regional and local categories in Euromoney magazine´s Private Banking Survey 2015.

February 10, 2015

Erste Group Seales Agreement to Sale 15 Percent of Hungarian Unit

Erste Group has invited the Government of Hungary and the EBRD to invest in Erste Bank Hungary Zrt. by acquiring a minority stake of up to 15 per cent each. Negotiations are in progress and the completion of the transaction is expected within the next six months.

February 9, 2015

Global Finance Awards Bank Austria "Best Trade Finance Bank"

US-based finance magazine Global Finance has named Bank Austria the "Best Trade Finance Bank" in Austria for 2015 based on an annual survey of analysts, managers and technology experts in 84 countries.The main criteria used to select the winners were transaction volume, geographical reach, customer service, competitive pricing and innovative technologies.

January 22, 2015

Geopolitical Developments have Negative Impact on VSE Performance

The Vienna Stock Exchange looks back at an eventful year 2014. A weak performance of the leading index, ATX, contrasted with numerous highlights such as large capital increases, the successful public offering of FACC AG, a record-year in terms of new corporate bonds listings and heigh liquidity, i.e. an increase in trading volumes and number of transactions.

January 22, 2015

"Teletrade" is not "Teletrader"

TeleTrade is an online broker providing access to trade across a range of financial markets. TeleTrade has recently opened an office at the Regus Business Center at Parkring 10 in Vienna's first district. According to the company's website, the TeleTrade Group has over 200 offices in 30 countries and more than 3000 employees.

January 20, 2015

Austria has EU-Wide Most Franc Loans

In absolute terms, Austria has the most franc foreign currency loans in the European Union.

January 19, 2015

EBRD Lends EUR 30 Mln Loan to Raiffeisen Leasing to support MSMEs in Romania

The European Bank for Reconstruction and Development (EBRD) is increasing the availability of financing to private businesses in Romania with a RON 132 million (€30 million equivalent) loan to the Bucharest-based Raiffeisen Leasing IFN S.A, a subsidiary of Austrian Raiffeisen Bank International AG (RBI).

January 15, 2015

Slovak Republic Issues 12-Year Eurobond Worth EUR 1.5 Billion

Slovakia’s first syndicated EUR transaction of the year attracted a total demand from more than 200 investors which reached almost EUR 5.5 billion.

January 15, 2015

Russian Investor Boris Mints to Launch Tender Offer for 10 Pct of CA Immo Shares

O1 Group Limited of Russian investor Boris Mints has made a voluntary partial public takeover offer of 10% of additional CA Immo shares. The offer comprises the purchase of up to 9,735,276 non-par value bearer shares of CA Immo (ISIN AT0000641352), which are admitted to the Official Market on the Vienna Stock Exchange.

November 28, 2014

Uniqa Expands Industrial Business in CEE

Uniqa has developed additional insurance related services which target multinational corporations with subsidiaries in Central and Eastern Europe (CEE).

November 18, 2014

BAWAG PSK Bank Sets-up London Branch Office

BAWAG PSK, the Cerberus and Golden Tree majority-owned Austrian bank, recently opened a branch office in London to help develop "its international business franchise", i.e. corporate finance, specialty finance and commercial real estate finance, Bawag's interim report Q3 2014 shows.

November 13, 2014

UniCredit Bank Austria Appoints Vivaldi as Head of its CEE Division

UniCredit has appointed Mr. Carlo Vivaldi as the Head of Central & Eastern Europe (CEE) Division. In this function Mr. Vivaldi will succeed Mr. Gianni Franco Papa, who has already been designated in August. In view of the appointment resolved today by UniCredit Board, the Supervisory Board of Bank Austria will be called upon to approve the appointment of Mr. Vivaldi also in the bank's Management Board.

November 11, 2014

BKS Bank Carinthia - EUR 52 Mln Capital Increase Completed

Today, some 3.3 million new shares of BKS Bank start trading in the "standard market auction" of the Vienna Stock Exchange. The exchange-listed Carinthian bank carried out a capital increase that raised the company's equity by around EUR 52 million.

November 3, 2014

Who is Private Equity Investor Advent International?

Advent International is an American global private equity firm focused on buyouts of companies in Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, growth and strategic restructuring in five core sectors. In 2008 the firm raised an additional €1 billion for investments in Central and Eastern Europe. Advent has acquired a number of companies in Central and Eastern Europe through its dedicated regional funds. These include Romanian Ceramica IASI, one of Romania’s leading ceramic bricks and clay roof tiles producers, Bolix, a leading Polish producer of construction chemicals, Dufa Deutek, Romania’s largest decorative paints producer, and LaborMed Pharma, which manufactures and distributes generic pharmaceuticals primarily for cardiovascular and central nervous system aliments, and now Hypo Group Alpe Adria's Balkan assets.

October 30, 2014

Axel Hummel Appointed CEO of Sberbank Europe

Sberbank Europe AG announces the appointment of Axel Hummel as its new CEO, following the resignation of Mark Arnold. The appointment is effective 22 October 2014, subject to regulatory approval. Sberbank Europe AG is based in Vienna.

October 27, 2014

Raiffeisen Research Comments on ECB’s Asset Quality Review of Austrian Banks

With regard to the ECB’s asset quality review of Austrian banks, according to Bloomberg ECB Governor Nowotny has stated that Austrian institutes will largely pass the tests. When asked about Volksbank and that it might fail the tests, Nowotny stated that it is no secret that there will be one institution that might have gaps that need filling but there are precautions taken.

October 23, 2014

Warsaw Stock Exchange not to Merge with Vienna Stock Exchange

For the time being plans for the merger of the Vienna and Warsaw stock exchanges have been postponed. The Warsaw Stock Exchange (WSE) declared that it had decided to abandon plans for a merger with Vienna Stock Exchange (VSE).

September 24, 2014

RBI Revises Expected Provisioning Requirement

Vienna based Raiffeisen Bank International AG (RBI) has revised its outlook for the net provisioning requirement for the current financial year to between EUR 1,500 and EUR 1,700 million, primarily due to higher expected risk costs in Ukraine in light of ongoing political tensions in the region.

September 23, 2014

European Startups in Vienna: Entering a New Age of Pioneering

From October 29th startups will compete for the attention of investors and companies in Vienna. The application for the Pioneers Challenge has just begun. Start-ups have no easy job to enthuse investors for their ideas. But Vienna offers one of the best ways to do just that: During the Pioneers Festival in late October young companies can secure the attention of potential donors and inspire other companies and media for their innovations.

September 18, 2014

OVAG to Merge With Another Bank?

A merger or collaboration of some sort with another bank may be in sight for Austrian bank group Osterreichische Volksbank AG (ÖVAG), Standard daily reports in its Tuesday issue. US investment bank Lazard is on lookout for offers.

September 9, 2014

Most Austrian Investment Funds Report Positive Results

In August Austrian investment funds improved their performance y/y, with most funds posting a positive result. Of the 1,599 funds operating on the market for at least one year some 1,522 reported a positive performance and only 77 reported a negative performance.

September 9, 2014

RBI Redeems Participation Capital

Raiffeisen Bank International AG (RBI) is now also repaying the privately-placed participation capital. On 6 June 2014, RBI paid back the state-held tranche of the participation capital with a nominal value of € 1.75 billion. On 10 September, the repayment of the outstanding participation capital held by private investors with a nominal value of € 0.75 billion will follow.

September 8, 2014

Buwog: The ATX of the Vienna Stock Exchange has a New Member

At today's meeting, the Index Committee has decided on changes in the composition of Austrian stock indices. All changes become effective as of 22 September 2014. In the Austrian leading index, ATX, Mayr-Melnhof Karton AG will be replaced by BUWOG AG.

September 2, 2014

Signa Buys Karstadt for €1

Austria's Signa Holding takes over struggling German department store chain Karstadt. Signa acquires a 100 per cent stake in Karstadt Warenhaus GmbH from Berggruen Holdings. Berggruen Holdings is going to withdraw from Karstadt Warenhaus GmbH, Karstadt Premium and Karstadt Sports as well as from from each property. The deal ends weeks of speculation over the company's future after the CEO left in July. Rene Benko will pay just €1 for the department store chain. Karstadt operates more than 80 stores across Germany and employs more than 17.000 people.

August 15, 2014

S&P Downgrades Erste, RZB, UniCredit, Affirms HYPO NOE, KA Finanz, Upgrades HYPO OO

S&P is downgrading three banks, affirming the ratings on two banks, upgrading one bank, and lowering various issue ratings on the banks' hybrid capital and guaranteed grandfathered debt.

August 13, 2014

Comment: Outlook of Vienna Stock Exchange

Manfred Sibrawa of BAWAG PSK INVEST GmbH comments on the expectation of the performance of the Vienna Stock Exchange until year end. Erste Bank and Raiffeisen Bank International, but also OMV, booked double-digit losses, while the Vienna Stock Exchange welcomed a new member, FACC. "All in all we saw a mixed development year-to-date, but assuming that we see a stabilization of the global situation we can expect the Vienna ATX to speed up and reduce the underperformance towards other established markets."

August 7, 2014

Bank Austria Posts Net Profit of EUR 776 Mln in H1 2014

Net profit rises by 34.3 per cent to EUR 776 million compared with the same period of the previous year.

August 6, 2014

Immofinanz: Net Profit for 2013/14 at EUR 180 Mln, Property Sales Top EUR 1 Bln

Immofinanz Group announces net profit totalling EUR 180.4 million for 2013/14, for a year-on-year increase of 62.8%. Rental income was lower as a result of the extensive, planned property sales. The delayed completion of the GOODZONE shopping center in Moscow prevented the full recovery of this decline during the past year. Rental income amounted to EUR 506.7 million (-7.2%) and results of operations totalled EUR 319.2 million (-19.5%). In like-for-like comparison (i.e. after an adjustment for new acquisitions, completions and sales), rental income was generally stable (-1.3% to EUR 472.7 million). Property sales set a new record at roughly EUR 1 billion.

August 4, 2014

VBAG Sold Private Equity Portfolio

Österreichische Volksbanken AG (VBAG) makes progress with the implementation of its restructuring program by selling a EUR 110 million portfolio of private equity fund investments and direct investments in German speaking countries and Eastern Europe.

July 31, 2014

Austrian Federal President Heinz Fischer Signs Hypo Special Act into Law

After intensive testing, together with the former President of the Constitutional Court and current adviser to the President, Prof. Dr. Ludwig Adamovich, Federal President Heinz Fischer has decided to carry out the notarization of the adopted bill and thus clear the way for review by the Constitutional Court.

July 31, 2014

Immofinanz Sells Two Logistics Properties in Poland and the Czech Republic

Immofinanz Group sold two logistics properties – the Bokserska Distribution Park in Warsaw and the Westpoint Distribution Park in Prague. Both transactions took place above book value, with the combined proceeds totalling approx. EUR 33.2 million. The Westpoint Distribution Park was sold to Central Group, a Czech investor, while the Bokserska Distribution Park was sold to “UK & European Investments“, a well-known family office from Great Britain.

July 28, 2014

Volksbank Romania Sells EUR 495 Million NPL Real Estate Portfolio

Volksbank Romania has reduced its non-performing loans portfolio (NPLs) through the sale of a NPL real estate portfolio with an aggregate volume of € 495 million. The Bank has sold the large-volume real estate financing commitments to an international investors consortium composed of Deutsche Bank, AnaCap Financial Partners LLP, H.I.G Capital International Advisers and APS Holding SE. With this transaction, Volksbank Romania has reduced its NPL portfolio to a NPL ratio of below 8%, below the average in Romania's banking system.

July 28, 2014

Bank Austria Takes Over Immobilien Holding from Immobilien Privatstiftung

UniCredit Bank Austria AG intends to buy Immobilien Holding GmbH/Group, which has so far been wholly owned by Immobilien Privatstiftung. The purchase agreement has been signed today, subject to consent by the Bank Austria supervisory board and subject to approval by the Austrian competition authorities. The purchase price will not be disclosed.

July 25, 2014

Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City

The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).

July 25, 2014

VIG Subsidiary Donau Insurance to Appoint New CEO

Elisabeth Stadler will resign her position as Chairwoman of the Management Board of Ergo Austria and take over the position of CEO of listed insurance group VIG's subsidiary Donau Versicherung AG.

July 24, 2014

RBI Raiffeisen Bank International Swallows Centrobank

Raiffeisen Centrobank (RCB), which is the investment vehicle of Raiffeisen group, will be integrated into its parent RBI Raiffeisen Bank International.

June 30, 2014

BUWOG Closes Acquisition of DGAG Portfolio

The BUWOG Group has closed its acquisition of approx. 18,000 units in Northwestern Germany after antitrust clearance by the German Cartel Office and completion of further conditions precedent according to schedule.

June 30, 2014

Hypo Alpe-Adria-Bank AG Changes Its Corporate Name to Austrian Anadi Bank AG

HYPO ALPE-ADRIA-BANK AG, former Austrian subsidiary of HYPO ALPE-ADRIA-BANK INTERNATIONAL AG, adopted a change in corporate name to Austrian Anadi Bank AG by means of an amendment to the articles of association approved at the extraordinary shareholder's meeting held on 16 June 2014.

June 27, 2014

Sevelda: "RBI to Increase the Cost Reduction Even More"

Raiffeisen Bank International must not only save 450 million euros, but about 600 million euros, says CEO Karl Sevelda.

June 16, 2014

Austrian Investment Funds Report Generally Positive Performance in May

Austrian investment funds recorded a mostly positive y/y performance at the end of May. Of the 1,604 funds operating on the market for at least one year, 1,338 showed a positive performance, while 262 of them saw a y/y negative performance. Four funds saw no change of the asset volume.

June 16, 2014

EBRD Provides €20 Mio Loan to Slovakia for Sustainable Energy Projects

The EBRD is deepening its support for sustainable energy investments in the Slovak Republic with a €20m loan to Slovenska Sporitelna, a.s. (SLSP), one of the country’s leading banks. The funds will be on-lent to private companies for renewable energy projects and energy efficiency in industry and buildings.

June 16, 2014

CEE-Initiative: Strengthening Investment Fund Business in Central- and Eastern Europe (CEE)

The Hungarian association BAMOSZ and the Austrian association VÖIG initiated a closer collaboration and tighter co-operation between fund associations in CEE, the so-called „CEE Initiative“. The member associations of the „CEE Initiative“ are (in alphabetical order): Austria, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Poland, Romania, Slovakia, Slovenia and Ukraine.

June 16, 2014

EBRD Committed to Moldova as the Country Moves Towards Greater Regional Integration

“The European Bank for Reconstruction and Development (EBRD) stands ready to support Moldovan companies and foreign investors in Moldova as the country moves towards even greater regional integration,” said András Simor, EBRD Vice President for Policy, during his visit to Chisinau.

June 14, 2014

VÖIG: "In 2013 Retail Investors Continued to be Timid and Shy"

From the viewpoint of retail investors the year 2013 could have been really easy: a mixed fund portfolio with an increased share portion and selected corporate and government bonds. In retrospect, 2013 proved to be almost free of financial market turbulences after years of global financial market and economic crises as well as the debt crisis in the euro area.

June 14, 2014
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