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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
Bank Taxes: RZB Records Costs of € 168m
For Austrian RZB (Raiffeisen Zentralbank), bank taxes in Austria, Hungary and Slovakia come at € 168m. RZB will not leave Hungary, CEO Rothensteiner says.
December 20, 2012
Erste Group Withdraws from Ukraine
Austrian Erste Group enters into an agreement to sell Erste Bank Ukraine.
December 20, 2012
Raiffeisen: “No signs of a regional deleveraging trend in CEE”
Cross-border exposures of European BIS-reporting banks to CEE (and the subregions CE and SEE) showed a modest decline in Q2 2012. This performance was driven by a cut in more or less all relevant CEE countries.
December 20, 2012
CESEE Banking Sector: Improving Market sentiment, but Slower Growth
The average CEE loan growth slowed to16-17% yoy in Q3 from 19% in Q1/Q2, Raiffeisen Research says.
December 20, 2012
Poland: Recovery in Mid-2013
Poland´s new Deputy Prime Minister Janusz Piechocinski forecasts an upward trend beginning in the second half of next year.
December 20, 2012
Immofinanz: Drastic Profit Decrease
Group generated solid operating results in the first half of the 2012/13 financial year. EBIT was down slightly, however.
December 19, 2012
Bank Austria: Poland and Turkey are Most Attractive
According to Bank Austria´s board member Gianni Franco Papa, the performance of CESEE markets is satisfying.
December 19, 2012
Immofinanz: Increasing Rental Income Ahead
Tomorrow, the Austrian real estate group Immofinanz will publish its results for the first six months.
December 19, 2012
Uniqa Sells Hotel Investments
The Uniqa Group is selling its hotel investments from the Austria Hotels International Group to an investor group headed by Oliver W. Braun (also including Günter Kerbler, Johann Kowar and others).
December 18, 2012
Erste Group: Massive Cuts in Romania
Due to the weak performance of BCR, the Austrian bank plans to lay off 1,600 employees in Romania. BCR´s NPL quota remains on a high level.
December 18, 2012
Immofinanz: Expansion into Germany
The Austrian real estate company intends to deploy treasury shares to obtain bank financing in order to continue the expansion into Germany.
December 17, 2012
Sale of Kommunalkredit to Be Postponed
The sale of the Austrian nationalized bank will not be sold by the end of the year. Austria´s Ministry of Finance postpones the signing by three months.
December 17, 2012
Sharp Attack Against Hypo Group
The legal dispute between Austrian Hypo Group and German BayernLB escalates. The majority owner of BayernLB announced that Hypo Group´s lawsuit will be fought by all means.
December 15, 2012
Banking Union: Czech Republic Cautious
For the time being, the Czech Republic will not join the single supervising mechanism.
December 15, 2012
Austria: BWB Approves New Shareholder at Bawag
The U.S. investment fund Golden Tree Asset Management becomes the second core shareholder of the Austrian bank.
December 14, 2012
Bulgaria: Lending Growth Close to Freezing Point
The increase in deposits also decelerates. The annual rate of growth of money supply (measured by means of the M3 aggregate) slowed down in October to 8.6% (it was 8.8% in the previous two months), Raiffeisen Research says.
December 14, 2012
Polish Government Considers Joining Banking Union
Today, Poland´s Prime Minister Donald Tusk explained that Poland may become a member in the single supervision mechanism.
December 14, 2012
EU Guarantees Stability of Czech Banking Sector
The Czech Republic will not use its right to veto. In return, the EU guarantees the stability of the Czech financial sector.
December 14, 2012
Hypo Group Refuses to Repay Loans to BayernLB
Today, the management board and the shareholders of the Austrian nationalized bank resolved to stop payments to the former owner BayernLB. BayernLB files a lawsuit against Hypo Group.
December 13, 2012
Banking Supervision to Control Nine Austrian Banks
Austria´s Finance Minister Maria Fekter announces that nine Austrian banking groups will be supervised by the new banking supervision authority.
December 13, 2012
CEE Countries May Join Banking Union
ECB will become the main supervisor for the Eurozone´s banking industry. Non-Eurozone member countries are entitled to opt-in.
December 13, 2012
CA Immo Expands Into Berlin
The real estate company CA Immo has reported the letting of around 6,800 sqm of office space in relation to another development project in the Europacity district of Berlin.
December 13, 2012
Austrian Banking Package: Losses total € 1.9bn
According to Austria´s Financial State Secretary Andreas Schieder, preliminary losses of the banking package come at € 1.9bn. Further losses are expected.
December 13, 2012
Immofinanz Develops New Project in Poland
The Austrian real estate company expands activities in Poland: Start of construction on Nimbus office development project
December 13, 2012
CA Immo: Gazprom New Tenant
ZAO AVIELEN A.G., a joint venture of the Austrian real estate companies Warimpex, CA Immo and UBM, is renting two thirds of its office space at AirportCity St. Petersburg to Gazprom Invest Zapad, a subsidiary of OAO Gazprom.
December 13, 2012
Czech Finance Minister: „No Reason to Veto Banking Union“
The Czech Minister of Finance Miroslav Kalousek announced that the Czech Republic has no concerns against the banking union in the Eurozone.
December 12, 2012
Zavarovalnica Maribor Remains Slovenian
The Slovenian insurance company was taken over by the Sava Re. NKBM has to increase its equity quota.
December 11, 2012
Bank Austria: Major Losses in Kazakhstan
In 2007, Bank Austria took over the Kazakh ATF Bank. In total, the banking group is threatened to record losses of up to € 1.8bn. Now, Bank Austria is said to leave Kazakhstan.
December 11, 2012
Hypo Group Expects Enormous Challenges
„Next year will be very difficult.“ CEO Gottwald Kranebitter says in an interview with “WirtschaftsBlatt”.
December 10, 2012
CA Immo: New Tenants in Hungary
CA Immo was able to acquire new tenants for some 9,300 sqm office space in five Hungarian office properties over the past six months.
December 10, 2012
RBI Sells Stake in RHI
The Austrian Raiffeisen Bank International sells the 7.3% interest in the Austrian refractory company.
December 7, 2012
Hypo Group: Deadline Expires
Today, the first deadline for the sale of Hypo Group´s subsidiaries in Southeast-Europe expires.
December 7, 2012
Immofinanz: New Major Project in Germany
With the Casa Stupenda, a pioneering plus-energy house is under construction in Duesseldorf’s MediaHarbor. The outstanding construction costs total approx. € 100m, and completion is scheduled for 2015.
December 6, 2012
Czech Republic Still May Use Veto Against Banking Union
The Czech government wants to secure the rights of national regulation authorities.
December 5, 2012
EU Approves State Aid for Hypo Group
The EU Commission has no objections against the state aid with a size of € 1.5bn.
December 5, 2012
CNB Underlines Stability of Czech Banking Sector
According to CNB, the banking industry is able to bear potential external shocks.
December 5, 2012
Sberbank Intensifies its Relations with Turkey
In future, the Sberbank of Russia is to step up its activities in Turkey and on December 3, 2012 signed two landmark agreements to this end.
December 5, 2012
Legal Merger of Raiffeisen Bank Polska and Polbank EFG Approved
Approval is starting point for unification of market approach and operational merger process. Cost synergies to be achieved by optimization of the branch network and the staff number, among other measures.
December 5, 2012
Banking Supervision: Fekter Calls for Flexibility
Today, the meeting of the Finance Ministers of EU countries was unsuccessful. Austria´s Finance Minister Maria Fekter comments that quality is more important than speed.
December 4, 2012
Immofinanz: Major Contract in Budapest
Immofinanz Group announces extension of three leases covering 18,000 sqm at Atrium Park in Budapest.
December 4, 2012
Rothensteiner: „No Credit Crunch“
Walter Rothensteiner, CEO of Austrian Raiffeisen Zentralbank, thinks that the capital shortfall of European banks does not limit credit supply.
December 3, 2012
CA Immo: Major Leasing Agreement in Bulgaria
Together with its joint venture partners Robul and Bank Austria Real Invest, CA Immo has already signed new lease agreements for around 17,600 sqm of space in the Megapark office complex this year.
December 3, 2012
Czech Republic: Deposits Grow Substantially
At the end of September, client deposits at Czech banks reached CZK 3,100bn. Compared to September 2011, this is an increase by 8.3%.
December 1, 2012
Slovenia: Austrian Grawe Will not Take Over ZM
The second-biggest Slovenian bank NKBM (Nova Kreditna Banka Maribor) sells its interest in the insurance group Zavarovalnica Maribor (ZM). Sava Re negotiates with NKBM already.
November 30, 2012
VBAG Records Operating Losses
The Group result was positive only because of one time effects due to accounting regulation. Next year, VBAG expects substantial losses again.
November 30, 2012
Slovenia to Inject Further Money in NLB
The biggest Slovenian banking group NLB records a capital shortfall of € 375m. Risky loans reach more than € 1.5bn.
November 29, 2012
The Banker: RBI Bank of the Year in CEE
Already fourth award for RBI as “Best Bank” in CEE this year. Network banks in Albania, Belarus, Bosnia and Herzegovina and Romania receive local “Bank of the Year“ awards.
November 29, 2012
IMF: Higher Risks for Austrian Banks in CESEE
In an interview with the Austrian news magazine “Presse”, IMF´s Executive Director Johann Prader explained that the European debt crisis has arrived in Central, East and Southeast Europe.
November 28, 2012
„Too Many Banks in Austria“
Hannes Androsch, President of the Austrian bank holding Fimbag, warns that Austria´s exposure in CESEE countries is disproportionately high.
November 28, 2012
Austrians Reject Further Bank Aids
About 61% of the Austrian citizens are against further bank aids by the Austrian state. Economists fear that the bank aids are lost forever.
November 28, 2012
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