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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
Immofinanz 2011 Convertible Bond Conversion Period Ends October 6
The Austrian real estate company Immofinanz informs, that the conversion of the convertible bonds 2011 is possible only until 06 October 2011 at 4.00 pm (CET).
September 13, 2011
FMA: Negative Performance of Austrian Pension Funds
The Financial Market Authority (FMA) reports a negative performance of Austrian pension funds for 2011: total return amounted to -1.2% for the first six months.
September 13, 2011
CEE-Region Remains Essential for Austrian Insurance Companies
According to a current market survey of Fitch, the CEE region plays a central role for domestic insurance companies. There is still growth potential.
September 12, 2011
Austria Considers Lawsuit Against Hungary
The Austrian Minister of Foreign Affairs, Michael Spindelegger (ÖVP) threatens Hungary to file a lawsuit at the European Court of Justice. Hungary plans to stress banks massively.
September 12, 2011
CA Immo Sells Major Stake of Skyline Plaza
Together with ECE, the Austrian real estate company sells a 80% stake on the project Skyline Plaza, which is a shopping center in Frankfurt, Germany.
September 12, 2011
Significant Growth for Austrian Leasing Business
In the first term of 2012, Austrian leasing companies experienced a 25%-growth. Total business volume amounted to € 3.3.bn.
September 12, 2011
C-Quadrat Receives Management Mandates with a Volume of € 300m
The Austrian fund company will assume the mandates from Germany’s third-largest insurance group in the fourth quarter.
September 8, 2011
Sale of Volksbank International Finalized
The Eastern European subsidiary will be sold for a price ranging from € 585m to € 645m depending on business performance in 2011.
September 8, 2011
Bank Aid Package is a Loss for Austria
For the Austrian Republic, the recapitalization measures for Austrian business banks is a losing deal. Losses amount to € 237m.
September 7, 2011
CEO of Raiffeisenbank Russia Dead
Pavel Gurin, CEO of Raiffeisenbank in Russia, passed away, the Austrian Bank stated.
September 5, 2011
Immofinanz Continues Sale Program in Austria
The Austrian real estate company reported the successful implementation of its five-year sale program. By 31 July property sales had generated proceeds of € 665.4m.
September 5, 2011
Fekter: No Nationalization of VBAG
The Austrian Finance Minister has the right to nationalize the bank if it does not pay a dividend on the state’s € 1bn of participation capital.
September 2, 2011
Raiffeisen Centrobank Reports Increase in Profit
Net interest income declined, while trading profit and net fee and commission income increased substantially. Turbulences on financial markets might burden the bank’s business development.
September 2, 2011
Hypo Alpe Adria: FMA Sees Capital Requirement of € 1.5bn
The Austrian nationalized bank has to fill the capital gap by 31 March 2012. Management wants to continue the downsizing program.
September 2, 2011
VIG Merges Polish Subsidiaries
The Austrian insurance group expects increased efficiency resulting from the planned merger between InterRisk and PZM.
August 31, 2011
RZB Reports Significant Increase in Profit
Profit before tax for the period up 60.5% to € 877m, with consolidated profit increasing 21.5% to € 488m. Net allocations to impairment loss provisioning were reduced by 32%.
August 30, 2011
Negative Result for Warimpex
The Austrian real estate company recorded a loss of € 3.2m in the first half of the year. EBIT fell from € 13.4m to € 7.6m.
August 30, 2011
S Immo: Earnings more than Doubled in the First Half of 2011
The Austrian real estate company recorded EBIT of € 51.3m, up 70.6% year-on-year. Net income doubled to € 10.1m.
August 29, 2011
Decline in Profit for Hypo Lower Austria
The Austrian regional bank achieved net profit of € 16.4m in the first six months of 2011. Net interest income increased to € 75.8m
August 29, 2011
Uniqa: Solid Results despite Devaluation of Greek Bonds
Net profit of the Austrian insurance company increased by 6.8% to € 53m. Recurring premiums grew 5.3% in the first six months of the year.
August 29, 2011
New Structure and Management for Raiffeisen Leasing
The Austrian banking group is reorganizing its leasing business. Three new subsidiaries will deal with business in Austria, large customers and in-house projects.
August 26, 2011
Sberbank Reduces Offer for VBI after Drop of Share Prices
Sberbank wants to pay less for the purchase of Volksbank International after European bank shares have dropped more than 20%. Executives are going to meet on 28 August to negotiate the deal.
August 26, 2011
VBAG: Reduced Consolidated Net Income in First Half of Year
The Austrian bank recorded net income of € 1m. The result was negatively impacted by write-downs of Greek bonds.
August 25, 2011
Sharp Rise in Earnings for CA Immo
Rental income of the Austrian real estate group increased by 54% in the first half of the year. EBIT amounted to € 112.4m, up 53% from the reference period.
August 25, 2011
RBI – Capital Increase May Be an Option
The Austrian bank posted strong results for the first six months of the year. Consolidated profit increased by almost one third year-on-year.
August 25, 2011
Eco Business to Continue Redimensioning
The Austrian real estate company registered a strong decline in EBIT and incurred a net loss of € 3.0m in the first six months of the year.
August 24, 2011
Significant Decline in Profits for Bawag
Net profit of the Austrian bank dropped 18.5% to € 78.5m in the first six months of the year. The bank levy totaled € 10.2m.
August 24, 2011
Vienna Insurance Group Expands Involvement in Albania
With the acquisition of a 75% stake in Intersig, the Austrian insurance company raises its market share in Albania to 30%.
August 24, 2011
BKS Bank Continues Expansion Course
The Carinthian/Styrian regional bank recorded an increase in profit of 11.7%. Step-by-step expansion in international markets will be continued.
August 19, 2011
Sustainable Increase in Earnings for VIG
The Austrian insurance company recorded profit before taxes of € 282.2m, up 10.4% in the first half of the year.
August 18, 2011
Hypo Alpe Adria with First Profit since 2007
The Austrian bank returned to black figures after four years. A half-year profit of € 90.8m was achieved despite risk provisions of € 134.9m.
August 17, 2011
conwert: Lower Income despite New Sales Record
The Austrian real estate company recorded a decline in income of 33% year-on-year. Proceeds on the sale of properties are expected to reach a total of € 600m in the full year.
August 17, 2011
Massive Decline in Profits for C-Quadrat
The Austrian fund company recorded a drop in performance fees in the first six months of the year. Net profit fell from € 8.5m to € 2.0m.
August 16, 2011
Erste Group not Interested in Polish Bank Millenium
The Austrian bank continues looking for opportunities to expand into Poland after it has ruled out an acquisition of Bank Millenium.
August 16, 2011
Atrium with Significant Increase in Profit
The real estate company achieved a plus of 19.4% in net rental income in the first half of the year. Profit before tax increased by 8.9% to € 113.7m.
August 16, 2011
Financial Market Authority Terminates Inquiry against CEO of Immofinanz
The head of the Austrian real estate group had been accused of insider trading and delayed shareholder information.
August 12, 2011
Hypo: New Charges against Former CEO Kulterer
The Carinthian bank’s former CEO and three other persons are accused of having caused a damage of € 5.5m.
August 12, 2011
BayernLB Demands Rescission of Hypo-Deal
The German bank has taken action against the employee fund which is accused of having misled the management about Hypo’s equity base.
August 10, 2011
Demand for Real Estate Remains on a High Level
In the first half of 2011 Austrians invested € 8.3bn in real estate. Vienna remained the number one region with a total volume of € 2.31bn.
August 10, 2011
Atrium to Develop Hypermarket in Poland
The real estate company will develop a shopping center in the city of Lublin for the French retail chain Auchan.
August 10, 2011
Hypo Upper Austria Expects Stable Results
The Austrian regional bank achieved profit before taxes of € 16.6m in the first half of the year, up 1.2% year-on-year.
August 8, 2011
Greek Bonds Burden Kommunalkredit’s Results
The state-owned Austrian bank reported a significant decline in profits due to a write-off of Greek government bonds.
August 8, 2011
conwert Confirms Outlook after Half-Year Results
The Austrian real estate company expects an operating result of between € 61m and € 63m for the first half of 2011 and an increase of 15% for the full year.
August 8, 2011
Erste Group Strives for Full Control over Romanian BCR
The Austrian bank does not want its Romanian subsidiary to be listed at the stock exchange although it was a condition for the privatization.
August 4, 2011
Significant Increase in Profit for Bank Austria
The Austrian subsidiary of UniCredit achieved a plus in net profit of 52% despite a negative one-off effect of € 100m from Greek government bonds.
August 4, 2011
Hypo Alpe Adria Sells Stake in Hypo Insurance
All of the Austrian bank’s 20% stake will be taken over by majority owner Grawe insurance.
August 4, 2011
Immofinanz with Strong Results in Financial Year 2010/11
The Austrian real estate company recorded an increase in net profit of 60% and will pay a dividend for the first time since 2007.
August 4, 2011
Trend towards More Bonds in Corporate Financing
Companies will increasingly rely on the capital market as bank loans are becoming more expensive due to Basel III and stricter liquidity requirements.
August 3, 2011
Erste Group Planning New Branch Concept for Czech Republic
The Austrian bank’s Czech subsidiary is working on a modern concept which will be targeted at new customer groups.
August 3, 2011
Bank Austria Finances Portfolio of Apartment Houses in Vienna
The Austrian bank generates a stimulus for Vienna’s real estate market and finances 53 apartment houses with € 110m.
August 2, 2011
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