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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
Big Exposure in Foreign Currency Loans
In Austria, domestic banks have outstanding foreign currency loans of € 51bn. In CESEE countries, the exposure comes at € 130bn.
July 10, 2012
Performance of Austrian Banks Remarkably Down
Austria seems to be significantly „overbanked“: Austrian banks only achieve a 0.1% yield on the capital employed.
July 9, 2012
OeNB Calls Austrian Banks to Improve Equity Base
Presentation of the 23rd Financial Stability Report of OeNB (Austrian Central Bank): Austrian Financial System Influenced by Tensions in the International Financial Markets.
July 9, 2012
Southeastern Europe Faces Recession
According to the Vienna Institute for International Economic Studies (WIIW), Southeastern Europe is the weak point among European emerging countries.
July 7, 2012
Massive Decrease in Turnover at Vienna Stock Exchange
In June, turnover fell by 50%. This is the lowest turnover since 2003. RCB recorded the second-highest turnover figure behind Deutsche Bank.
July 7, 2012
Austrian Business Property Market Under Pressure.
In the Viennese office property market, new lettings remain subdued. Regarding the shopping centre market, old and less attractive models under pressure.
July 7, 2012
Bank Austria named Best Bank in Austria
The distinguished international financial magazine EUROMONEY has named Bank Austria the Best Bank in Austria in its Awards for Excellence 2012.
July 7, 2012
Austrian Real Estate Market Shows Stability
The Austrian real estate market is a small, stable market with income returns of 5 percent in the last eight years. Real estate investors focus on core properties resistant to the crisis, leaving some market opportunities untapped.
July 6, 2012
Euromoney Awards RBI as Best Regional Bank in CEE
Austrian Raiffeisen Bank International (RBI) receives award for the seventh time. For RBI, it is already the third award for RBI as "Best Bank" in CEE in 2012.
July 6, 2012
Vienna Stock Exchange: New Trading System for Gas Exchange
Trayport ETS: New trading system on CEGH Gas Exchange of the Vienna Stock Exchange.
July 6, 2012
Reorganization at UniCredit
The Italian banking group plans to dezentralize its structure. Bank Austria as CESEE hub is affected.
July 5, 2012
CESEE: Poland and Turkey are Hot Spots
Erste Economic Sentiment Indicator CEE: stock market expectations weaker, but still ahead of Eurozone. Turkey and Poland remain the preferred investment regions.
July 4, 2012
C-Quadrat to Acquire UK Fund Management Company
The Austrian Investment Fund intends to take over the British BCM Group, which manages assets of € 800m.
July 2, 2012
Austrian Banks in CESEE „Too Ambitious“
For the IMF, Austria´s economy is „well situated“. The austerity package is „adequate“.
July 2, 2012
Massive Austerity Cuts at Porr
The third-biggest Austrian construction company examines its cost structure. First effects should be visible still in 2012.
July 2, 2012
Boom in New Listings at Prague Stock Exchange
The CEESEG member Prague Stock Exchange is pleased about new listings despite the current economic crisis.
July 2, 2012
Volksbanken Sector to Become Merged
After months of negotiations, the merger between VBAG and the 52 Volksbanken is resolved. The merger was the prerequisite for getting bank aids.
June 30, 2012
Stable Development in Austrian Insurance Sector
The Austrian Financial Market Authority (FMA) recorded a minor increase in the premium volume in the first quarter of 2012.
June 30, 2012
New Board Member at CA Immo
The supervisory board of the Austrian real estate company decided changes on the board of CA Immo. Florian Nowotny succeeds Wolfhard Fromwald.
June 30, 2012
Uniqa Completes Sale of Mannheimer Group
The Austrian insurance group Uniqa completed the sale of the Frankfurt listed company Mannheimer AG Holding to Continentale Versicherungsverbund. Growth in CESEE countries should be strengthened.
June 29, 2012
Real Estate Crisis in the Balkans Has Deepened
Due to the economic crisis in Southeastern Europe, real estate prices are still falling. Since 2008, prices fell by up to 50%.
June 28, 2012
WIFO Wants Unlimited Firewall
According to the Austrian Institute of Economic Research, the firewall must be big enough in order to make speculation against the euro unattractive.
June 28, 2012
VIG Completed Polisa Life Acquisition in Poland
The Vienna Insurance Group AG is the new owner of the Polish life insurance company Towarzystwo Ubezpieczeń na Życie "POLISA-ŻYCIE" S.A. With this transaction, the VIG has acquired about 92 percent of the life insurer.
June 28, 2012
Erste Group Lays Cornerstore for New Headquarters
In 2016, Austrian Erste Group will get a new headquarters. 20 different offices will move to the new central headquarters at the Viennese Central Station.
June 27, 2012
Stable Corporate Lending at RBI
Raiffeisen Bank International : „No bottleneck supplying the domestic economy with liquidity.“
June 27, 2012
Credit Crunch in CESEE?
Anglo-Saxon banks and funds are most aggressive in deleveraging; Austrian bank are not relying on funding from countries in hotspots of deleveraging.
June 27, 2012
Bank Austria Wohnbaubank: Decrease in Profit
The operating performance of Bank Austria Wohnbaubank went up in the 2011 financial year. Due to the bank tax, net income decreased.
June 27, 2012
CESEE: „Nothing Has Changed“
Walter Rothensteiner, CEO of Austrian Raiffeisen Zentralbank, is convinced of the success of the expansion into the CESEE region.
June 26, 2012
Uniqa Initiates Cash Capital Increase
The Austrian insurance company improves its equity base via a Re-IPO. The size of cash capital increase reaches € 500m.
June 26, 2012
Immofinanz Expands into Netherlands
With the acquisition of a property in the Dutch city of Den Bosch during mid-June, the Austrian real estate Group has further expanded its self-storage portfolio.
June 26, 2012
Rothensteiner Succeeds Konrad
Walter Rothensteiner becomes general attorney of the Austrian Raiffeisen sector. Christian Konrad resigned.
June 25, 2012
„The end of the Euro would mean Europe´s Explosion“
Ewald Nowotny, governor of the Austrian Central Bank (OeNB) reaffirms that Europe needs the Euro.
June 25, 2012
Treichl: „Europe Does Not Need the Euro“
Andreas Treichl, CEO of Austrian Erste Group thinks that the European Union would work very well without the common currency. A common army would be more important.
June 25, 2012
„ÖIAG Should Manage Banking Interests“
Austria´s Finance Minister Maria Fekter wants to upgrade the Austrian state holding ÖIAG.
June 23, 2012
NPL of € 100bn in CEE?
The chairman oft he Viennese Chamber of Labor Werner Muhm asserts that Austrian banks hold non-perfoming loans in CEE ountries. Austrian banks rejected Muhm´s statement.
June 23, 2012
Nowotny: „Bank Aids Rescue Economy“
The governor of the Austrian Central Bank OeNB underlines the necessity of the bail-out of Spanish banks.
June 23, 2012
„We will Examine Every Single Shareholding“
Raiffeisenlandesbank Upper Austria´s new CEO Heinrich Schaller announced in an interview with „Wirtschaftsblatt“ that the banking group´s efficiency should be enhanced.
June 22, 2012
Leipnik-Lundenburger May Go Public
The new CEO of Raiffeisen Holding Erwin Hameseder considers privatizing the food company. There would be other privatization candidates in the renewable energy sector.
June 22, 2012
Government´s Plans on Bank Insolvency Law Failed
The Austrian government initially planned to initiate a bank insolvency law in order to liquidate financially stricken banks without major difficulties. Now, the plan has failed.
June 22, 2012
Erste Pursues Downsizing Strategy in Romania
Last month, the Austrian Erste Group closes about 25 bank branches of BCR in Romania.
June 21, 2012
Austrian Banks Report Small Growth in Lending
Regarding company loans, Austrian banks record a stable recovery, the Austrian Central Bank (OeNB) reports.
June 20, 2012
CESEE Banks: Small Exposure in Southern Europe
The riskiness of assets held by CESEE banks is manageable, the U.S. rating agency Fitch says. The CESEE region has closer links to Western Europe than to Southern Europe.
June 20, 2012
Shopping Center Industry Sees Still Growth Potential in CESEE
In 2012, about 300 further shopping centers should be built in the CESEE region. The market still shows a great potential, experts say.
June 20, 2012
VIG to Invest in CEE Real Estate
The Vienna Insurance Group intends to invest more in real estate. „Central and Estern Europe is more interesting for us.“ CEO Peter Hagen says.
June 20, 2012
Uniqa Acquires EBRD’s Interests in Subsidiaries in CESEE
The Austrian insurance group concluded an agreement for the acquisition of EBRD’s interests in subsidiaries in Croatia, Poland and Hungary.
June 20, 2012
New Supervisory Board at RBI
Raiffeisen Bank International's Annual General Meeting approves unchanged dividend of €1.05 per share. Heinrich Schaller and Günther Reibersdorfer were elected to the Supervisory Board.
June 20, 2012
Fitch: Positive Statements for Austrian Banks
For the U.S. rating agency, the lending activities of Austrian banks in Eastern Europe is only a minor risk factor.
June 19, 2012
Fitch: Austria´s AAA Not Endangered
According to the U.S. rating agency, Austria´s creditworthiness remains at a high level. Nevertheless, reforms would be needed.
June 19, 2012
Liebscher Calls for New Model of Bad Banks
The chairman of Austria´s Fimbag, the state holding of nationalized banks, wants to put aside toxic assets of nationalized banks.
June 18, 2012
Conwert ´s Corporate Bonds Generate Strong Demand
Subscription period closed early – first retail bond from the Austrian real estate company in the amount of € 65m enjoys strong demand.
June 16, 2012
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