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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
Central Bank Act: Orban Gives In
Hungary waives the planned merger of the Central Bank and the Financial Market Authority. Yesterday, Austria´s Minister of Foreign Affairs visited Orban in Budapest.
January 21, 2012
VBAG No Systemic Bank Anymore
After the sale of VBAG´s subsidiary VBI to Russian Sberbank, the bank will not be systemic anymore, the Austrian Financial Market Authority announced.
January 21, 2012
Takeover of Ljubljana Stock Exchange Completed
The Austrian CEE Stock Exchange Group widens its stake in the Slovenian Ljubljana Stock Exchange to 99.85 %.
January 21, 2012
Erste Group to Support Austrian Bonds
Erste Group considers putting effort in distributing Austrian sovereign bonds to its customers. Attractiveness should be increased, Erste Group says.
January 21, 2012
Warta Sale: VIG Unsuccessful
The sale of the Polish insurance group Warta is closed. The German Talanx takes over Warta, Vienna Insurance Group had no chance.
January 20, 2012
Austrian Banks Hold € 18bn in Foreign Sovereign Bonds
At the end of October 2011, the exposure of Austrian banks in foreign sovereign bonds was € 18.1bn. The largest volumes are invested in Poland and Italy.
January 19, 2012
Austrian Lending Restrictions Under Observation
The plan of the Austrian FMA and OeNB to restrict lending in CEE countries could be a violation of EU-law.
January 19, 2012
Treichl: „Erste Could Bear Hair Cut in Hungary“
Andreas Treichl, Erste Group´s CEO, is optimistic for Hungary. A withdrawal of Erste Group is not considered.
January 18, 2012
Austrian Banks Claim to Continue „Vienna Initiative“
In 2009, international banks agreed on maintaining their lending operations in Eastern Europe. Now, the cooperation should be extended.
January 18, 2012
New Management at Vienna Stock Exchange
Birgit Kuras is the new Member of the Management Board of Wiener Börse AG.
January 18, 2012
Growth of CEE Banking Sector Above European Average
2012 should remain a challenging year for CEE banking, with regulatory changes and European debt crisis as main risk factors, but Western European banks´ deleveraging should be a manageable drag.
January 18, 2012
Erste Group Provides Major Loan to Telekom Serbia
The Austrian bank commits € 140m to Telekom Serbia as part of a recent syndicated loan taken by the company. Erste Group acted as joint mandated lead arranger, underwriter and bookrunner.
January 18, 2012
Oberbank Satisfied with 2011 Results
The Austrian Oberbank achieved “excellent“ results last year, CEO Gasselsberger stated. Profits were up by 5.5%.
January 17, 2012
Berlin as New Growth Market for CA Immo
In 2012, the Austrian real estate company plans anInvestment volume of about € 300 m in Frankfurt and Berlin.
January 17, 2012
2012 Brings Stagnation for Austrian Economy
According to Bank Austria´s economic indicator, Austrian economic growth will only reach 0.8% this year.
January 16, 2012
Uniqa: Strong Growth in Premium Income
The Austrian insurance company announced to have achieved 20% growth in Bulgaria.
January 16, 2012
Treichl Does Not Expect Hungarian National Insolvency
In spite of a large exposure in Hungary, Andreas Treichl, Erste Group´s CEO is optimistic. By 2014, Erste Group Hungary should be profitable again.
January 14, 2012
Bank Austria Lost Madoff Case
Bank Austria distributed Primeo Funds, issued by the U.S. former investment banker Bernard Madoff. The prospectus did not contain sufficient information, a Viennese court decided.
January 13, 2012
Exit in Hungary Would be Expensive
In case of leaving the Hungarian market, Austrian banks would face enormous costs, says Citigroup.
January 13, 2012
Polish Warta: Decision Expected this Week
Vienna Insurance Group and Zurich fight for Polish Warta. The seller, Belgian KBC, will decide this week.
January 12, 2012
Austrian Banks Must Downsize in Hungary
Erste Group and Raiffeisen Bank International (RBI) must streamline their operations. Nevertheless, a further capital increase could become necessary.
January 12, 2012
VIG Has „No Problems in Hungary“
“We are an insurance group and not a bank.”, said the management of Vienna Insurance Group. Nevertheless, the developments are observed thoroughly.
January 11, 2012
Immofinanz Repays € 77.6m in Convertible Bonds
The Austrian real estate group announces the end of the put period for premature redemption of the 2014 convertible bond.
January 11, 2012
CA Immo Completes Tower 185 Project in Frankfurt
Rental premises in the tower were simultaneously handed over to PwC, the principal tenant. The total investment in Tower 185 stands at approximately € 450m.
January 11, 2012
Slow Growth in CEE Expected
According to Raiffeisen Research, real GDP in CEE to grow by 2.0 per cent in 2012, while Austria set to post GDP decline of 0.5 per cent.
January 11, 2012
CA Immo Secures Refinancing for Project in Budapest
The Austrian real estate company CA Immo has agreed on refinancing for an office building in Budapest with Bank Austria. The investment totals € 27.0m.
January 10, 2012
Experts Consider Sale of Bank Austria
After the sluggish capital increase of UniCredit, experts do not exclude a sale of Bank Austria, which operates the CEE business.
January 10, 2012
Hungarian Crisis: BIS Warns Austria Insistently
A collapse of the Hungarian economy would hit Austria very hard, says the Bank for International Settlements (BIS). Austrian Banks have a high exposure.
January 9, 2012
Immofinanz Closes Leasing Contract With Leonardo Hotels
The Austrian real estate group enters an agreement with the German subsidiary of the Israeli Fattal International Hotel Chain.
January 9, 2012
Real Invest Austria Sees “Strong Growth”
Real Invest Austria, a subsidiary of Bank Austria, has over € 1.7bn under management. Outlook for 2012: Further expansion of real estate assets planned.
January 9, 2012
Concerns Over Bank Austria´s Holding Company
Share prices of the Italian UniCredit fell drastically over the last days. The major bank urgently needs a capital increase.
January 7, 2012
ATX: Andritz Becomes Number 4
The Austrian technology company Andritz could raise its weight in the prime market of the Austrian Traded Index. Erste Group and Raiffeisen lost massively.
January 7, 2012
Austrian Banks Have $ 41.0bn Exposure in Hungary
After another downgrade, a national bankruptcy of Hungary is not excluded anymore. Consequences for Austrian banks would not be foreseeable.
January 7, 2012
Hungary Becomes Fundamental Risk Factor for Austrian Banks
Over the last weeks, fears of a Hungarian bankruptcy grew drastically. The Hungarian Forint has reached a new record low.
January 5, 2012
Hungary: High Losses for Banks
According to the Hungarian banking association, costs for the coerced conversion of foreign currency loans reach about € 952m.
January 4, 2012
Worsening Economic Outlook for 2012
Economists and analysts expect a massive fall in Austrian economic growth for 2012.
January 4, 2012
Uniqa´s Czech Subsidiary Beats Market Growth
The Czech subsidiary of the Austrian insurance group achieved an 11% premium income growth, which is significantly beyond the market growth (1.8%).
January 3, 2012
Substantial Decrease in Stock Market Turnover
The Vienna Stock Exchange recorded a decline in stock market turnover by 18% in 2011. This is also due to new taxes.
January 2, 2012
Tyrol Equity Takes Over German RSN Sihn
The Austrian investment company acquired 50.1% in the German automotive supplier company RSN Sihn.
January 2, 2012
Hypo Group Sells Insurance Segment
The nationalized Austrian Hypo Group Alpe Adria sold its insurance subsidiary, Hypo Alpe Adria Insurance Services (HIS).
January 2, 2012
Austrian Enterprises Fear Nationalization in Hungary
Nationalization plans induce fierce criticism against the Hungarian Government. The Austrian waste management industry would be hit hard.
January 2, 2012
Real Estate Prices Still on the Rise
Rents were up by 2.7% in Vienna. Property prices rose by 2.2%. A further increase is expected.
January 2, 2012
Hypo Alpe Adria Gets More Time to Build Up Capital
The Carinthian nationalized bank has to raise its own funds ratio to 12%. The Financial Market Authority granted a deadline extension of nine months.
December 30, 2011
Erste Group Increased Share Capital
The Austrian bank raised its capital in connection with the agreement to acquire shares in Romanian BCR.
December 30, 2011
RZB Issued Participation Capital
The Austrian banking group optimizes its structure by acquiring shareholdings in the Czech Republic and Slovakia.
December 30, 2011
RBI Rules Out Sale of Eastern European Subsidiaries
CEO Herbert Stepic expects a very difficult year 2012 for the entire banking industry.
December 29, 2011
VBAG: Sale of VBI to Be Closed in 2012
Contrary to the original schedule, the sale of the eastern European bank will not be closed by the end of the year.
December 29, 2011
Industry Wants to Suspend Banking Tax
The new capital requirements for banks are criticized by the Federation of Austrian Industries and the research institute WIFO.
December 29, 2011
Insurance Industry Records Decline in Premiums
Total premiums written dropped by 0.41% in the period from July to September. The life insurance business was down 7.93%.
December 29, 2011
Styrian Mining Company Causes Problems for Austrian Banks
The Austrian mining company Decometal has debts reaching € 250m. Now, the company will be restructured. Loans must be extended.
December 28, 2011
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