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Vienna International Professional Services Industry News
Read the latest headlines about developments in the international service industry in Vienna and Austria
Austria: Negative Outlook for Banks
Moody’s current analysis paints a rather bleak picture about the situation of the Austrian banking industry.
March 8, 2013
Austria: RZB About to Take Over Assets of VBAG?
The possible takeover by RZB is still kept in the dark. RBI, however, might absorb Citibank Romania.
March 8, 2013
Austria: Less Money in Foreign Currency Credits
The volume of foreign currency loans has decreased further at the end of 2012.
March 7, 2013
Austria: Hypo Managing Board Warns of Losses
Hypo Group’s managers fear that selling the bank precipitately might lead to additional losses up to € 5bn for the bank and federal state.
March 7, 2013
Austria: Elsner Files Lawsuit in US Supreme Court
Former BAWAG CEO Helmut Elsner filed a lawsuit over $ 1.8bn against members of the Austrian Social Democrat party (SPÖ).
March 7, 2013
Austria: Insurance Company Allianz Gains Profits
Allianz Austria was able to continue its upward trend and gained around 20,000 new customers in 2012.
March 5, 2013
Hungary: Percentage of Foreign Direct Investments in Decline
Foreign Direct Investments in 2012 was 5.2 % less than in 2011. According to the statistical central office in Hungary (KSH), the drop in the last quarter showed even -7.9 %. Massive declines in almost all sectors.
March 4, 2013
Austrian Construction Group Alpine Rescued
For the time being, Alpine´s bankruptcy could be prevented. The creditors agreed on a partial waiver.
March 4, 2013
“I do not expect for crediting requirements to tighten”
There is no reason for crediting requirements to be tightened, Zoran Stavreski, Macedonia´s Minister of Finance says.
March 4, 2013
BayernLB Rejects Settlement with Hypo Group
The German banking group and its former Austrian subsidiary do not reach a compromise. BayernLB wants Hypo Group to repay a loan of € 2.3bn.
March 2, 2013
Romania As Risk Factor for Austria´s Public Finance
The partly nationalized Austrian banking group VBAG faces difficulties in Romania. The Austrian Ministry of Finance tries to prevent further capital injections into VBAG.
March 2, 2013
Lithuanian Banking Sector: Lending Up, Profitability Down
Over the past year, the assets of banks operating in the country and branches of foreign banks decreased.
March 2, 2013
Alpine: Austrian Ministry of Finance Rejects Waiver
Although the banks reached an agreement, the restructuring of the Austrian construction group may collapse.
March 1, 2013
Alpine: Future Still Highly Uncertain
Today, Alpine´s creditors decide whether the financially stricken construction company will be restructured.
February 28, 2013
Fekter Pleased with New Banking Regulations
Austrian Minister of Finance: "Agreement stabilizes banking sector, protects taxpayers and strengthens Austrian SMEs".
February 28, 2013
Austrian Private Banking Market Consolidates
Bank Austria Private Banking sees itself as benefiting from this development. “The idea of security in asset management must constantly be redefined. Investors will have to accept more risk.” Bank Austria says.
February 28, 2013
Erste Group: Profit Higher than Expected
The Austrian bank posts a net profit of EUR 483.5 million in 2012.
February 28, 2013
Austria: “Short Supply on Real Estate Market”
Demand is expected to remain high for residential real estate in 2013. Supply is lingering behind demand particularly in locations where business is strong, Bank Austria reports.
February 27, 2013
Erste Group: High Losses Ahead
Analysts believe that the Austrian bank record substantial losses in the fourth quarter of 2012.
February 26, 2013
Czech Republic: Corporate Finance Leaders Meet at the CFO Forum in Prague
If it were possible to predict the future, corporate financiers really could be relegated to mere "bean counters." Amid continuing global economic volatilty, however, considerably more advanced skills are required.
February 25, 2013 · Sponsored Content
Bank Austria Plans Radical Reduction of Branches
The biggest Austrian bank wants to reduce the number of branches from 350 to 250 in the next two years.
February 22, 2013
Uniqa: Out of the Red
The Austrian insurance group generates EBT of €205.4 million, up 44.9 per cent compared to 2010. Consolidated profit totals €130.2 million.
February 22, 2013
VBAG: Major Losses in Romania
The Romanian subsidiary of Austrian VBAG suffers from non-performing loan. Last year proved to be again a difficult one for the Romanian banking system, Raiffeisen Research states.
February 21, 2013
Stavros Efremidis New Executive Director of conwert
Stavros Efremidis is responsible for conwert’s operating business in Germany as Executive. Thomas Doll, Executive Director and CFO of conwert, is responsible for the operating business in Austria and CEE.
February 20, 2013
RBI: Profits Declining Significantly
Raiffeisen Bank International posts consolidated profit of € 725 million in 2012.Significantly strengthened core tier 1 ratio of 10.7 per cent
February 20, 2013
Sberbank Threatens to Sue VBAG
Last year, VBAG has sold VBI (Volksbank International) to Russian Sberbank. Now, Sberbank is highly dissatisfied with the performance of VBI.
February 19, 2013
“Sale of Kommunalkredit Will Take Some Time”
Ewald Nowotny, governor of Austrian National Bank, believes that the sale of the nationalized Austrian banking group will take some years.
February 18, 2013
Immofinanz Withdrawsfrom Swiss Hotel Market
The Austrian real estate group sells Kempinski Residences and Hotel as well as the Grand Hotel in St. Moritz.
February 18, 2013
NBU: “Banking Industry Shows an Upward Trend”
Mr. Oleksii Tkachenko, Deputy Governor of the National Bank of Ukraine, believes that overall 2012 was a successful year for the domestic banking industry.
February 18, 2013
Hypo Group: Sale of Austrian Unit „at a Late Stage”
According to Hypo Group, the results of the Austrian unit for 2012 are “highly satisfying”.
February 16, 2013
Assets Become More Risky in CESEE Countries
According to S&P, the exposure of Austrian banks in the CESEE region has become more risky.
February 15, 2013
„Selling Hypo Group Needs up to Five Years“
Hannes Androsch, supervisory board president of the Austrian bank holding Fimbag, thinks that a sale will either be expensive or take some time.
February 15, 2013
Vienna Stock Exchange Cooperates with Kazakhstan Stock Exchange
Vienna stock exchange could enlarge its network to 17 exchanges. With the recently agreed index cooperation with the Kazakhstan Stock Exchange, the Vienna Stock Exchange has enlarged its international network once again.
February 15, 2013
Bank Austria: New Supervisory Board Members
Today, the general meeting of UniCredit´s wholly-owned subsidiary Bank Austria had elected two new members to Bank Austria’s Supervisory Board.
February 14, 2013
Massive Losses in Slovenian Banking Sector
Last year, the banking industry has recorded total losses of more than € 600m, the Slovenian business magazine “Finance” reports.
February 13, 2013
“2012 was a good year for the domestic banking industry”
Ihor Sorkin, governor of the National Bank of Ukraine underlines that the performance of the Ukrainian banking industry was satisfying last year.
February 12, 2013
Estonia: Real Estate Transactions Up by 12%
According to Statistics Estonia, in 2012, 36,176 purchase-sale transactions of real estate in the total value of 1.7 billion euros were notarised.
February 12, 2013
Bulgaria: Bad and Restructured Loans Decrease
In the last month of 2012 the annual rate of increase of the monetary aggregate M3 decelerated again (to 8.5%), after in November it accelerated to 10.1%, Raiffeisen Research reports.
February 12, 2013
CESEE: Banking Industry Slightly Optimistic
Unlike their counterparts in Central and Eastern Europe, Czech bankers are relatively satisfied with the performance of the domestic banking market.
February 11, 2013
Erste Group Finances Major Slovak Real Estate Project
Erste Group’s Slovak subsidiary co-refinances City Business Centre in Bratislava with EUR 34.5 million.
February 11, 2013
CESEE Office Market Shows Solid Fundamentals
CESEE office market is undergoing a stable development; rental levels remain largely solid in most of the region, Erste Group says.
February 11, 2013
Voestalpine: CEO Eder Cautiously Optimistic
CEO Wolfgang Eder anticipates an economic recovery in the second half of 2013. Despite the difficult framework conditions, voestalpine´s management retains the earnings forecast.
February 7, 2013
Dispute Between Croatia and Slovenia Solved
Regarding the Slovenian banking group NLB, the Slovenian Minister of Foreign Affairs and his Croatian counterpart have found a compromise.
February 7, 2013
Size of Austrian Bank Aid: € 20bn
Since 2008, the Austrian state has injected more than € 8bn into domestic banks. Guarantees total € 12bn.
February 5, 2013
Rothensteiner: „Bank Taxes Cause a Cut in Lending”
Walter Rothensteiner, CEO of Austrian RZB (Raiffeisen Zentralbank) says that bank taxes have a detrimental impact on the economic development.
February 5, 2013
Slovenia: Non-Performing Loans Still on the Rise
The banking system’s high credit risk increased slightly in the first nine months of the year, but at a slower pace than in 2011.
February 5, 2013
Slovenia´s Banking Industry in Distress
Due to the economic crisis, the lending business goes down. The indebtedness of the real economy remains high. Funding costs are increasing.
February 5, 2013
Immofinanz Continues Sales in Vienna
The Austrian real estate company continues the implementation of its real estate sales programme. Besides that, Immofinanz decides to leave France.
February 4, 2013
Budapest Stock Exchange: One of the Region's Most Liquid Markets
Despite the globally dwindling capital market activity, the Budapest Stock Exchange (BSE) still remained one of the region's most liquid markets in 2012.
February 1, 2013
RBI Posts Smaller Profit
RBI: Full year pre-tax profit 2012 slightly above € 1 billion (consolidated profit over € 700m).
January 31, 2013
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