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Read the latest headlines about developments in the international service industry in Vienna and Austria
Vienna International Professional Services Industry News
Vienna Insurance Group - The Four Newly Elected Members of the Supervisory Board
Since the appointments of all ten members of the Supervisory Board expired, the Annual General Meeting elected a new Vienna Insurance Group Supervisory Board. Maria Kubitschek, Rudolf Ertl, Georg Riedl and Günter Geyer were elected to the Supervisory Board for the first time.
June 9, 2014
VIG Takes Over 100% of Life Insurer Skandia Poland
The Vienna Insurance Group AG (Wiener Versicherung Gruppe) has acquired 100 percent of shares in the life insurance company Skandia Zycie TU S.A. (Skandia Poland).
May 31, 2014
Sevelda: “Russia Still Crucial Market”
In the light of the close ties with regard to economic and energy relations with Russia Karl Sevelda, CEO of Raiffeisen Bank International (RBI) warns about the tightening of penalties against Russia.
May 23, 2014
Hypo Alpe Adria Appoints New Supervisory Board
At an Extraordinary General Meeting of Hypo Alpe Adria International on Friday, a new Supervisory Board was appointed.
May 23, 2014
Erste Group Bank AG: Voting Results of the 21st AGM - New Board Members
Erste Group Bank AG increased the number of its supervisory board members to eleven.
May 22, 2014
Erste Group Bank AG: Voting Results of the 21st AGM
Erste Group Bank AG has published the voting results of the 21st Annual General Meeting, which took place on 21 May 2014 at 10 a.m., as follows.
May 22, 2014
High Potential for Austrian Investments in Moldova
Austria is one of the most active countries in the CESEE region ranking first in foreign direct investments (FDI) in many countries.
May 22, 2014 · Updated: May 22, 2014; 13:05
Fischer: Room for Further Trade with Albania
Austrian President Heinz Fischer was paying a visit to Western Balkan States.
May 22, 2014
Austrian Oberbank Shines in Hungary
Austrian Oberbank bucks the trend of terminating business activity in Hungary. Instead, the financial institute plans on growing in one of the most difficult markets in Europe.
May 22, 2014
Billionaire Sheikh Al Jaber Sues Immoconsult and the Schwarzenberg Foundation
Due to a failed hotel project in Vienna real estate affiliate of Volksbank, Immoconsult, is facing a lawsuit by the Austrian/Saudi Arabian investor Mohamed Al Jaber.
May 21, 2014 · Updated: May 21, 2014; 18:51
S IMMO AG: Offer to Exchange S IMMO INVEST Participating Certificates to Open Tomorrow
Vienna based real-estate developing Company S Immo AG announces its offer to exchange S IMMO INVEST participating certificates for bonds.
May 20, 2014
Helvetia Takes Over Basler in Austria for EUR 130 Million
Helvetia takes over Basler Versicherungen in Austria for EUR 130 million, thereby becoming one of the Top 10 Austrian insurance companies.
May 16, 2014
Raids at Romanian Affiliate of VIG
A number of business locations of Omniasig, the Romanian affiliate of Austrian insurer VIG, were searched by the police. Several employees are accused of forgergy and abuse of authority.
May 14, 2014
Conwert Slips into the Reds
Austrian residential real estate enterprise is facing a hard time in Germany.
May 14, 2014
Bank Austria's Ukrainian Subsidiary Not Yet To Be Sold
Because of the crisis in Ukraine the planned sale of Bank Austria's Ukrainian subsidiary has been halted.
May 13, 2014
Romania: Banca Transilvania Gives Shares to Employees
As part of the loyalty program, the Romania lender gave almost 10 million shares to its employees.
May 12, 2014
Czech Arca Capital to Invest in Romania
As reported by daily E15, Czech investment group Arca Capital is planning to make a huge investment in Romania.
May 12, 2014
Croatia: Adris Grupa to Bid for Insurer Croatia Osiguranje
The Croatian financial regulator HANFA has approved Adris Grupa, the largest tobacco company on the Balkans, placing its bid to take over insurance company Croatia Osiguranje.
May 12, 2014
South Korean Bank Preparing for Business in CEE
Shinhan Bank, one of the largest banks in the South Korea, will open branches in Poland.
May 12, 2014
World Bank Approves Health Loan to Croatia
The Croatian government will use the World Bank’s funds for a national health program.
May 9, 2014
Romania: Raiffeisen Bank Issues Unsecured Bonds
Raiffeisen announced plans of issuing unsecured bonds at the stock exchange in Bucharest with a nominal value of RON 500m (€ 112.8m) with a maturity of five years.
May 9, 2014
Croatia to Place New Eurobond by June
The Croatian government plans to issue a Eurobond until the beginning of June.
May 9, 2014
Poland: Banking Industry’s Profits Down
In the first quarter this year, the net profit of Polish banks came at PLN 3.97bn (€ 944m, down by 2.9 percent year-on-year, as reported by the Polish financial market regulator KNF.
May 9, 2014
Sanction Imposed on Expobank
Russian-Latvian Expobank was added to the Canada’s black list.
May 9, 2014
Verbund: Trying to Get Rid of Sorgenia
The Austrian utility Verbund announced not being willing to invest any further money into loss-making Italian energy group Sorgenia.
May 8, 2014
Hypo Group to Shut Down Subsidiaries in Italy
Until the end of this year five subsidiaries in Italy will be closed.
May 6, 2014
Agenda Austria 2020: Economy = State
The think tank Agenda Austria 2020 is currently tackling the question what the “economy expects from the state”.
May 5, 2014
Austria: Calls for More Competence in Real Estate Management Become Louder
Stock Exchange Guru Alexander Proschofsky and real estate expert Peter Hohlbein are fighting for a seat at Conwert’s administrative board. Proschofsky has been criticizing the strategy of the listed Austrian real estate company.
May 5, 2014
Hypo Group: Shady Deals with Balkan Diplomats
The Austrian problem bank Hypo Group has troubles recovering debts.
May 3, 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
Slovenian Banka Celje Needs Further State Aids
Because of the failed capital increase in the amount of € 160m, Banka Celje is requiring further state capital.
May 2, 2014
Austria: Hypo Group Investigation Committee to be Established?
Will the Austrian government soon give in to establishing an investigation committee for problem bank Hypo Group?
May 2, 2014
Fitch Upgrades Rating for Slovenia
Fitch Ratings has revised the Outlook on Slovenia's Long-term foreign and local currency Issuer Default Ratings (IDR) to Stable from Negative and affirmed the IDRs at 'BBB+'.
May 2, 2014
Austria: Hypo Reveals Profit Losses
The Austrian branch of Hypo Bank, which was privatized last December and is going to be renamed to Austrian Anadi Bank, has published the annual financial report for the year 2013.
April 30, 2014
Austria Gives up Bank Secret for United States
Austria and the US have signed an agreement for the exchange of fiscal data. However, the agreement could be renewed soon.
April 30, 2014
Poland: Bank BZ WBK Expects High Growth of Profit
The Polish affiliate of Spanish Banco Santander, Bank BZ WBK, expects net profits in 2014 to increase compared to last year’s volume.
April 30, 2014
Austria: Industrial Production with Growth Potential
Austrian industry continues to grow - but somewhat less dynamically than at the turn of the year.
April 30, 2014
Hypo Group Further Losses to Be Expected
Huge losses by the sale of the SEE banking network could be expected.
April 30, 2014
Immofinanz: Changes at Executive Board
Immofinanz – Dietmar Reindl appointed to the Executive Board
April 30, 2014
EU Enlargement: A Success Story for Central Europe
Austria is one of the main beneficiaries of the EU enlargement of 2004.
April 30, 2014
Erste Group: Dramatic Profit Decline Stayed Away
Net profits amounted to EUR 103.3 million. Erste Group aims to keep profits stable in the near future.
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
Spindelegger: “Arsonists Are to Blame Not Fire Brigade”
The downsizing of ailing bank Hypo Group Alpe Adria is a heavy burden for this year’s budget. According to Finance Minister Spindelegger, the deficit comes at 2.7 percent of GDP while public debts will soar.
April 29, 2014
Polish Banking Sector: “Too Early for Recovery”
The Polish banking sector has to be patient for economic recovery to show on their results.
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
Hypo Group: Huge Burden for Austrian Budget
The downsizing of problem bank Hypo Group Alpe Adria is a huge burden for this year’s budget.
April 29, 2014
Hypo Group: Already a “Catastrophe“ in 2006
In the court proceedings against the former member of the supervisory board of regional lender BayernLB former head of Hypo Group’s board Wolfgang Kulterer called the situation Hypo was in a “catastrophe”.
April 28, 2014
Banks Still Losing in Trust
The trust in banks is continuing to decline. The scepticism towards the financial branch has increased among 39 percent of Austrians while trust in banks only increased among five percent.
April 28, 2014
Austria: Is Spindelegger Suitable as Finance Minister?
On Tuesday the Austrian Finance Minister will hold his first budget speech. Initial figures reveal record debt levels.
April 28, 2014
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