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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
BTV: Moderate Increase in Profits
The Austrian regional bank for Tyrol and Vorarlberg reached growth in profits, total assets and lending.
February 10, 2012
Kommunalkredit: More Costly than Hypo Group
The Austrian state had to made expenses of € 4.65bn for the nationalized Kommunalkredit. In total, the bank package´s volume reaches € 11bn.
February 9, 2012
Erste Group Plans Complete Takeover of BCR
The Austrian bank wants to become the sole owner of Banca Commerciala Romana.
February 9, 2012
RBI: „Capital Increase is Pure Speculation“
The Austrian Raiffeisen Bank International, which is said to plan a capital increase, points out that this information is a “pure rumor”.
February 9, 2012
Capital Increase at RBI?
According to market rumors, Raiffeisen Bank International is said to revisit € 1.00bn sale as shares rise.
February 8, 2012
Major Offer for Vienna International Airport by Petrus Advisers
The London-based real estate company made a € 450m offer to VIA. However, the demanded property is not for sale.
February 8, 2012
CEO of PlusCity Increases Engagement in Croatian Westgate
Ernst Kirchmayr, CEO of the Upper-Austrian shopping center has raised his stake in the Zagreb-based shopping center “Westgate”.
February 8, 2012
Hungary: 160,000 Loan Takes Convert Foreign Currency Debt
According to the Hungarian Financial market authority, 142,000 Hungarian households repaid foreign currency debt. Further 19,000 are expected.
February 7, 2012
CA Immo Brings an Action Against Grasser
The former Minister of Finance, Karl-Heinz Grasser, faces a lawsuit by the Austrian real estate company. CA Immo claims € 200m.
February 7, 2012
Still Capital Requirement at Kommunalkredit
The „bad bank“ of the nationalized Austrian bank, KA Finanz, receives € 190m by the Austrian state. Moreover, another € 600m are needed in the first half of 2012.
February 7, 2012
VBI Sale: Closing Expected for Mid-February
The Russian Sberbank buys VBI from Austrian VBAG. The price totals € 505m.
February 6, 2012
Privatization of Kommunalkredit Starts
The sale of the nationalized bank will start in the second half of 2012. For 2011, losses could reach up to € 150m.
February 4, 2012
AMAG to Become New Owners?
About one third of Austrian aluminum producer´s shares are for sale. Raiffeisen and B&C are potential buyers.
February 4, 2012
Constitutional Court: Bank Taxes in Line with Constitution
A complaint over bank taxes by Austrian banks was disapproved. According to the court, banks were primarily responsible for the economic crisis.
February 3, 2012
Conwert Continues Streamlining Operations
The Austrian real estate company continues to advance optimisation of sales activities. The distribution subsidiary Resag will be re-organized.
February 3, 2012
Uniqa Records Losses of € 330m
The Austrian insurance company´s results are massively burdened by Greek bonds. Core business is still 'robust', says Uniqa´s management.
February 3, 2012
No Further Rise in Insolvencies Expected
The bad debt insurers Euler Hermes and Prisma expect business insolvencies to stagnate in 2012.
February 2, 2012
Kommunalkredit Downgraded by Moody´s
The U.S. rating agency downgraded Kommunalkredit Austria to Baa3.
February 2, 2012
Lending Conditions of Austrian Banks Worsened
According to the Austrian Central Bank (OeNB), stricter lending conditions at Austrian banks were due to the decline in economic growth and detrimental refunding conditions.
February 2, 2012
RLB Burgenland Records Rise in Profits
The regional bank´s operating profit was up by 9.8% to € 53m. RLB Burgenland´s total assets grew by 5.3% to € 6.3bn.
February 2, 2012
Losses in Hungary Keep Within a Limit
The deadline for the conversion of Hungarian foreign currency loans expired. Austrian banks think that their provisions are sufficient.
February 1, 2012
Rise in New Bonds Listings at CEESEG
Boom in new bond listings still going strong, CEE Stock Exchange Group says.
February 1, 2012
RBI Structures Credit Facility for Chinese Company
Austrian Raiffeisen Bank International (RBI) finances delivery of the plant by Andritz-Group for Chinese Ganzhou.
February 1, 2012
Hypo Group to Cut Jobs
The Austrian Hypo Group Alpe Adria continues its downsizing program. 800 employees will be laid-off.
February 1, 2012
Erste Group Reduces Bondholdings
The Austrian major bank is said to plan sale of covered bonds.
January 31, 2012
Austrians Reduce Savings
At present, Austrians are planning to save € 5,460 (-4.5%). Around 10% of the population plans to finance their purchases by taking out loans and will borrow an average of € 68,800 (-16%).
January 31, 2012
New Management Board Member at RBI
Raiffeisen Bank International: Klemens Breuer starts in mid-April. Patrick Butler chooses to resign his mandate.
January 30, 2012
Hypo Group´s Result „Close to Zero“
CEO Gottwald Kranebitter announced that Hypo Group Alpe Adria could reduce its losses significantly in 2011.
January 30, 2012
VKB Records Rise in Results
The regional bank VKB´s operating result improved by 9.0%.
January 28, 2012
Romanian President Appreciates Erste Group´s Decision
Traian Basescu, President of Romania, is pleased with Erste Group´s announcement to continue its business in Romania.
January 28, 2012
Stepic: „Reaching AAA Again Is Possible“
RBI´s CEO Herbert Stepic thinks that due to the strength of Austria´s real economy, re-gaining the triple A is possible within the next years.
January 28, 2012
New Management Board at BCR
The Supervisory Board of Erste Group´s loss-making subsidiary, Banca Comerciala Romana (BCR), took several decisions regarding the structure of BCR’s Management Board (Executive Committee).
January 27, 2012
Sberbank: € 500m for Austrian VBI
The Russian Sberbank officially bids € 500m for VBI, the subsidiary of Austrian VBAG.
January 26, 2012
RBI´s CEO Expects € 60m Losses in Hungary
Herbert Stepic, CEO of Austrian Raiffeisen Bank International, emphasizes to stay in Hungary. The foreign currency debt conversion causes severe losses.
January 26, 2012
S&P Keeps Rating for Erste Group and RZB
After the downgrade of Austrian sovereign bonds two weeks ago, the U.S. rating agency remains its ratings for the two largest domestic banks.
January 25, 2012
Treichl: „S&P Errs Sometimes“
Erste Bank is ‘not guilty’ of Austria’s downgrade, CEO Andreas Treichl says.
January 25, 2012
Scharinger: „Rating Agencies Are Instruments of Torture“
The leaving CEO of RLB Upper Austria, Ludwig Scharinger, is convinced that Europe needs must make itself more competitive against the U.S. financial industry.
January 24, 2012
Capital Shortfall at Austrian Banks Could Decrease
Possibly Erste Group and Raiffeisen can lower their capital shortfall. The Austrian Financial Market Authority (FMA) is currently talking to EBA.
January 24, 2012
VIG Raises Dividends Due to Excellent Results
Premium income went up by 3.4 percent to € 9bn, profit increased by about 10 percent to nearly € 560m.
January 24, 2012
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
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