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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
Goldman Sachs Lowers Expectations for Austrian Banks
The U.S. investment bank anticipates decreasing earnings.
August 27, 2012
Crisis in Eurozone: Stepic Is Optimistic
In an interview with the Austrian newspaper “Presse”, RBI´s CEO Herbert Stepic expects that the crisis will be managed until 2015.
August 25, 2012
Bulgaria: Bad Loans Declining
Contrary to the trend in Southeastern Europe, the Bulgarian banking sector records a substantial relief.
August 25, 2012
Austrian Business Lending On the Rise
In the second quarter of 2012, business loans were up by 2.8%. By contrast, lending in the Eurozone decreased by 0.6%.
August 24, 2012
NKBM Suspected of Money Laudnering
The second-largest Slovenian bank does not only face financial problems. NKBM´s management is alleged to have practiced money laundering activities.
August 23, 2012
Fekter Does Not Exclude Further Bank Aids Anymore
Austria´s Finance Minister Maria Fekter admits that the three nationalized banks Hypo Group and Kommunalkredit/KA Finanz may need further capital injections. In the past, Fekter denied the need of further bank aids.
August 23, 2012
Bawag May Sell Leasing Unit
The Austrian lender Bawag, which is owned by the U.S. investment fund Cerberus, is said to sell its leasing business.
August 23, 2012
VIG Aims to Expand in Poland
Vienna Insurance Group is interested in the Polish subsidiaries of ING and Aviva. However, there are no sales plans yet.
August 23, 2012
Austrian Leasing Business Shrinking
In the first half year of 2012, the Austrian leasing industry recorded a new leasing business of € 2.6bn. Against the reference period of 2011, this is a decrease by 19.2%.
August 23, 2012
conwert significantly increases earnings
In the first half of 2012, earnings before tax (EBT) increased by 45.2% to € 18.0m. Net income was up by 17.1% to € 9.6m.
August 23, 2012
S Immo: Higher Net Income Despite Lower Revenues
The Vienna listed S Immo AG today published its results for the first half year. Earnings remained stable. Due to lower financing costs, net income was up by 50%.
August 22, 2012
Croatia: Non-Performing Loans on the Rise
Almost one out of seven loans is classified as “non-performing.” A further aggravation is rather likely.
August 22, 2012
VIG to Grow in Hungary
Vienna Insurance Group intends to expand into Hungary. The Eastern neighbor country is the favorite growth market, the Austrian insurance group said.
August 22, 2012
Several Potential Buyers for Kommunalkredit
In 2013, the nationalized Austrian bank must be re-privatized. The buyer won´t be an Austrian bank.
August 21, 2012
Lay-Offs in Polish Banking Sector Ahead
According to the Polish newspaper Rzeczpospolita, about 2,500 employees may lose their jobs in the banking industry.
August 21, 2012
Uniqa Interested in NKBM´s Insurance Subsidiary
The Austrian insurance group aims to grow in Slovenia. The financially stricken bank sells a 51% stake of the insurance business.
August 21, 2012
Allianz Austria: Stable Earnings and Rising Premium Income
In the first quarter of 2012, Allianz Austria recorded a 24% slump in earnings. Pre-tax profits grew slightly.
August 21, 2012
Ukraine's Banking System Demonstrates a “Sustainable Development”
Deputy Head of the National Bank of Ukraine Igor Sorkin commented on the situation in the Ukraine’s banking system for the first half-year 2012. Lending is on the rise.
August 21, 2012
CA Immo Below Expectations
The Austrian real estate company achieved a 83 % increase of consolidated net income after minorities in the first half year of 2012. Rental income reached € 140.7m (+10 %).
August 21, 2012
Rising Profit for CA Immo Expected
The Austrian real estate company should record a rise in net income of 96%. EBIT should fall by 8%, however.
August 20, 2012
VIG: Stable Results Ahead
Next Wednesday, Vienna Insurance Group publishes its half-year results. Analysts predict a slight growth in premium income.
August 20, 2012
Immofinanz: Major Sale in Vienna
The Austrian real estate company announces proceeds of over € 33 million on apartment house sale in Vienna.
August 20, 2012
Hypo Group: Major Risk Factor for BayernLB
The former owner of Hypo Group Alpe Adria, which was nationalized in 2009, may write down up to € 3.1bn.
August 18, 2012
VBAG to Sell Container Business
The Austrian partly nationalized bank is said to sell its container leasing business for € 163m.
August 18, 2012
Atrium Records 37% Increase In Earnings
The Vienna-listed real estate company could improve rental income as well as earnings and net income.
August 17, 2012
Foreign Currency Loans Decrasing
Foreign currency loans: One quarter of all Erste Bank customers have converted or switched loans with payment vehicles.
August 17, 2012
Dispute Over Hypo Group
Despite the relatively good results, the nationalized bank needs further capital injections. What is more, the capital shortfall at Hypo Group is highly controversial.
August 16, 2012
Croatian Banks Record Lower Profits
In the first six months of 2012, the net income generated by Croatian banks was down by 19%. The Croatian economy is expected to shrink this year.
August 16, 2012
Non-Perfoming Loans on the Rise in Austria
In the last three years, the size of non-performing loans held by Austrian banks has doubled. At the end of 2011, the NPL volume stood at € 18bn.
August 16, 2012
Demerger at Hypo Group Resolved
In order to become re-sold, the Austrian subsidiary of Hypo Group shifts risky assets to the holding company.
August 14, 2012
Slovenia to Establish a Bad Bank
The Slovenian government wants to support the financially stricken banking sector. Risky assets should be outsourced to separate banks.
August 14, 2012
Hypo Alpe-Adria-Bank in the Red Again
Today, the nationalized bank announced its half yearly result for 2012. Net Results reached € 10m.
August 13, 2012
Hypo Alpe Adria Divests TLM-TVP in Croatia
The nationalized Austrian bank successfully has sold the aluminum hot-rolling mill TLM-TVP d.o.o. in Croatia to the Vienna-based Euris.
August 13, 2012
Profits Grow Slower in Polish Banking Sector
The Polish banking sector is still very stable. However, a trend reversal is foreseeable.
August 10, 2012
Fitch Downgrades Slovenian Banks
The U.S. rating agency downgrades the lown-term ratings of major Slovenian banks. The outlook is negative for all of them.
August 10, 2012
Hungary: Erste Group Expands
The Austria major bank purchases the private banking segment of BNP Paribas in Hungary.
August 9, 2012
conwert takes over residential portfolio in Berlin
Residential property portfolio acquired at high two-digit million amount . Economies of scale possible through significant expansion of conwert’s portfolio in Berlin
August 9, 2012
East European Banking Industry Shows Ambiguity
For West European banks, their subsidiaries in Eastern Europe are either highly problematic or the cash cows.
August 8, 2012
Fitch Downgrades Slovenia
The Southern neighbor country of Austria was downgraded to “A-“. The outlook is negative now.
August 8, 2012
S&P Confirms Bank Austria´s Rating
Due to the downgrade of the holding company UniCredit, the U.S. rating agency retains the negative outlook for Bank Austria.
August 8, 2012
Immofinanz to Double Sales
In three years, the Austrian property company aims to increase sales and re-investments to € 1.0bn from € 500m.
August 8, 2012
FMA Pushes for Bank Insolvency Law
The Austrian Financial Market Authority increases pressure on the government. Director Helmut Ettl says the Austria needs an insolvency law for banks as soon as possible.
August 7, 2012
Austrians Tend to Save Less
Erste Bank 2nd Quarter Savings and Credit Forecast: Half of Austrians expect an economic upswing within the next two years. The average savings amount drops further to € 4,617.
August 7, 2012
No Merger Between VBAG and Bawag
Bawag´s CEO Byron Haynes reaffirmed that U.S. owned bank is not interested in a merger with the partly nationalized VBAG.
August 6, 2012
Kommunalkredit´s KA Finanz Needs New Guarantees
Because of its exposure in Greece, the nationalized Austrian lender needs further guarantees from the Austrian state.
August 6, 2012
Again Downgrades in Slovenian Banking Sector
Last week, Moody´s downgraded big Slovenian banks. Now, S&P puts the domestic banking industry under even more pressure.
August 6, 2012
Immofinanz: Net Income Down, Earnings Up
The Austrian real estate group confirmed the positive operating trend set in recent quarters with the close of the 2011/12 financial year, which brought a slight 1.2% year-on-year increase in rental income.
August 6, 2012
Austrian Property Market Runs out of Steam
In Austria, the property market shows first tendencies of consolidation. The number of acquisitions was down in the first six months.
August 4, 2012
Bank Austria as UniCredit´s Cash Cow
Without Bank Austria, UniCredit would have been in the loss area. The CESEE region is still Bank Austria´s future market.
August 4, 2012
Kommunalkredit: Small Profit, Big Risks
In the first six months, the nationalized Austrian Kommunalkredit bank could generate a net income of € 16.2m. Further capital injections are likely.
August 4, 2012
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