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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
Conwert Announces Strong Growth in Revenues in the First Quarter of 2011
The Vienna-based real estate company records a good business development and a 24% increase in EBIT.
May 20, 2011
Erste CEO Aims to Repay State Capital Before End-June
The Austrian bank is negotiating the terms of refunding € 1.2bn for which it currently pays 8% interest per year.
May 19, 2011
ÖVAG: Strong Provisional Results for Q1 2011
Österreichische Volksbanken-AG Group (VBAG) expects a quarterly result of € 32m. The AGM concludes the combination of VBAG and Investkredit.
May 19, 2011
Atrium: 50% Decline in Pre-Tax Profit
Despite a growing rental income, the real estate company’s profit before taxation decreased from € 46.3m to € 26.4m.
May 18, 2011
VIG Is Staying on Course in the 1st Quarter of 2011
Group premiums went up by 2.9% to more than € 2.6bn. Profit increased by 7.0% to € 142.8m.
May 17, 2011
Strong Growth rates for BAWAG P.S.K. Insurance
BAWAG P.S.K. Versicherung AG was able to get into the Top-Ten group of Austrian life insurance companies for the first time, due to its growth in 2010.
May 14, 2011
Bank Austria Starts the Year with Net Profit of € 341m
Operating profit up by 8 per cent to € 851 m compared with Q1 2010, driven by strong revenue trend in commercial banking business and flat cost development
May 14, 2011
Declining Sales at UBM
The Austrian real estate company hat do report a decline in sales of 15%. However, profits rose slightly.
May 13, 2011
Expansion Plans at Erste Group and Raiffeisen
RBI is drawn increasingly to the Czech Republic, while the Erste Group focuses on the Polish banking market.
May 13, 2011
Strong Decline in Eco Business Sales and Earnings
The net result was positive with € 1.1m, but it fell in comparison with the same period of the previous year by 68%.
May 13, 2011
Raiffeisen Insurance Grows
Raiffeisen Versicherung, part of the UNIQA Group achieved increases in almost all divisions, with a total premium volume of € 989m.
May 13, 2011
German IVG is also Active in Austria Now
IVG Immobilien AG (IVG), the largest German real estate fund company, acquired the Austrian Hypo Real Invest in January 2011, changing its name to IVG Austria AG, with headquarters in Vienna.
May 12, 2011
Immofinanz Closes Acquisition in Moscow
The Austrian real estate group takes over 100% of the GoodZone.
May 11, 2011
Radovan Jelasity appointed CEO of Erste Bank Hungary
Radovan Jelasity (43) will join Erste Bank Hungary as of 1 June 2011. Subsequent to the approval of the respective Hungarian authorities, he will be appointed Chief Executive Officer (CEO).
May 10, 2011
UniCredit Leasing Still Number 1 in Austria's Leasing Market
With an increase of 43 per cent in the new business volume to €763m and a market share of 13.3 per cent, UniCredit is the clear market leader in Austria in 2010 again
May 10, 2011
RBI Joint Bookrunner for € 1.75bn Bond
The bond, which is issued by Banca Monte dei Paschi di Siena, is the second largest EUR-denominated senior unsecured issue by an Italian bank in 2011
May 10, 2011
Raiffeisen International Bank Intends to Get Further Involved in Poland
After the purchase of the Polbank in February, the Austrian RBI seems to be interested now in the Polish DZ Bank. Its chances are however considered to be low.
May 10, 2011
Atrium Strengthens Polish Portfolio
Atrium European Real Estate announces that it has completed the acquisition of the Promenada Shopping Centre (“Promenada”) in Warsaw, Poland for €171 m from Carpathian PLC.
May 9, 2011
Profit Decline for C-Quadrat
Strong increase in management fees from € 7.6 m to € 11.5 m (+52 %). Net profit amounts to € 1.0 m.
May 9, 2011
Contradictions Regarding Expenditure for Bank Package
According to Eurostat, € 1.4bn more were spent on bank assistance than the corresponding revenues. The Ministry of Finance contradicts this.
May 7, 2011
ÖVAG in the Black Again
The central institution of the Austrian Volksbanken was able to achieve a profit of € 67.6m in 2010 after losses for € 24.5m reported in 2009.
May 6, 2011
Immofinanz takes over 100% of Zagreb’s Grand Centar
Immofinanz acquired the remaining 20% stake in the Grand Centar in Zagreb through its subsidiary Immoest Allegro. This stake was previously held by Generali Immobilien AG.
May 5, 2011
Moderate Premium Growth for Merkur Versicherung
Record premium increase of 22.7% in the accident insurance division. Continued upward trend in South East Europe: Merkur increases its market share in Bosnia and Herzegovina to 29.3%.
May 4, 2011
Funds are Considered as a Suitable Old-Age Provision for many Austrians
The majority of Austrian fund owners rate investment funds as a suitable old-age provision, according to the result of a recent population-representative study of AXA Investment Managers.
May 4, 2011
Austria's Insurance Industry is Optimistic
The Austrian insurance industry showed premium increases in all sectors in 2010, with premium income rising by 2.0% to € 16,748bn.
May 4, 2011
Erste Group Launches Rising Markets Indices
Erste Group launches Rising Markets Indices for bonds and equities focusing on high-opportunity countries. Country selection based on criteria such as GDP growth, population growth, anti-corruption measures and standard of living.
May 3, 2011
Immofinanz Strives for Presence in Russia
The Austrian real estate group plans to expand its activities further through the purchase of shopping centers in Moscow.
May 3, 2011
VIG Re: Significant Improvements in Results
The premium volume of the Czech subsidiary of the Vienna International Group rose by 9.1% to € 280.6m.
May 3, 2011
Strong Earnings Growth for Hypo Steiermark
The operating profit of Hypo Steiermark rose to 21.5 million euro, more than doubling the previous year’s result.
April 30, 2011
UNIQA Records Strong Growth in Premiums and Profit in 2010
Premiums up 8.4% in the Group to a total of €6,224 m. Life insurance is the growth driver with an increase of 13.1%
April 29, 2011
Raiffeisen Postpones Stock Exchange Plans
The banking group has to postpone for two or three years the IPOs of the agricultural holdings NÖM and LLI planned for 2011.
April 29, 2011
Strabag Reports Stable Results
Revenues of the Austrian construction company decline slightly. Earnings per share show a plus of 8 % to € 1.53 – Management Board proposes a dividend per share of € 0.55.
April 28, 2011
Erste Group Reports Small Profit Increase
Erste Group increases Q1 2011 net profit to € 260.6 m on lower risk costs, despite negative impact from banking taxes.
April 28, 2011
Decline in Profits for Wiener Privatbank
The profits of the Privatbank fell by 34% in 2010. The bank reported an equity ratio of 48% on the 2010 balance sheet date (31 December 2009: 44%).
April 28, 2011
Vienna’s Real Estate Market is Booming
With the third quarter of 2010, the trend started to reverse for the Viennese real estate market. Property is booming again, rental real estate loses demand.
April 28, 2011
Zehetner Remains CEO at Immofinanz
The Supervisory Board of the Austrian real estate company extends Executive Board contracts for Eduard Zehetner and Daniel Riedl.
April 28, 2011
Lending Behavior of Banks Remains Stable
The credit policy of Austrian banks remained stable for the third year running in the first quarter of 2011 and it is also expected to remain unchanged in the second quarter of 2011.
April 28, 2011
Vienna Insurance Group Launches new ADR Programme in the US
The Vienna Insurance Group AG Wiener Versicherung Gruppe is grouping the independent American Depositary Receipt (ADR) programmes.
April 28, 2011
Erste Group: Slight Increase in Profits Expected
UniCredit and RCB expect a slight rise in profits for Erste Group, despite bank taxes in Austria and Hungary.
April 27, 2011
Hypo Tirol Continues Restructuring Process
The Supervisory Board of the Austrian regional bank appoints two new board members. Furthermore, withdrawal from Germany and Switzerland is to take place.
April 27, 2011
RCM - Raiffeisen Capital Management Company grew in 2010
Despite the international debt crisis and the repeated fears of a recession, money flowed back into the investment company last year.
April 23, 2011
aws: Willingness to Invest in Austria’s Manufacturing Industry Grows
The investment projects promoted from January to March 2011 were larger and more ambitious than one year ago.
April 22, 2011
Erste Group Wins Lawsuit in Sweden
In a legal dispute over shares in a Swedish bank worth € 225m, the position of the Austrian Erste Group was able to prevail.
April 21, 2011
Capital Requirement of Austria's Banks: € 19bn
According to the Austrian National Bank, domestic banks needed at least € 19bn in equity capital by 2010 to meet capital requirements.
April 21, 2011
Strong Profit Growth for Raiffeisen Landesbank Niederösterreich-Vienna
The annual income of the regional bank rose by 80.5% to € 308.6m. The operating profit grew by 57.8%.
April 20, 2011
Warimpex to launch a Private Placement of Convertible Bonds
The Austrian real estate company intends to issue convertible bonds amounting to € 29.73m at the Warsaw Stock Exchange in order to "enhance financial flexibility".
April 20, 2011
Decrease in Profit at Hypo Lower Austria
Despite improvements in operating profits, net profit of the company drops from € 19.8m to € 7.1m.
April 19, 2011
Erste Group Manages € 1.00bn increase of Slovak sovereign bonds
Total orders at approximately € 1.4bn from almost 80 investors . Approx. 80% have been subscribed internationally, mostly from Czech, Germany, Austrian, Benelux and Asian investors
April 18, 2011
ÖVAG Group Achieved Turnaround in 2010
Operating results rose by 34% against 2009, profit after taxes was € 55m. The government participation capital will be refunded this year.
April 18, 2011
ÖVAG to be Split
Resolution to transfer the banking business of Österreichische Volksbanken-Aktiengesellschaft (ÖVAG) to Investkredit Bank AG by way of de-merger planned for 19 May 2011.
April 16, 2011
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