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Read the latest headlines about developments in the international service industry in Vienna and Austria
Vienna International Professional Services Industry News
Investkredit and ÖVAG: As Of Now, They Have a Common Board
In addition to CEO Gerald Wenzel, Wolfgang Perdich, Martin Fuchsbauer and Michael Mendel are also members of the common board. The merger of both financial institutions is to take place in early 2011.
September 15, 2010
FMA and OeNB Welcome the Basel III Agreement
The package draws the right lessons from the financial crisis and provides for reasonable transition periods.
September 14, 2010
Russian Fund Accuses RZB of Money Laundering
The Russian fund Hermitage Capital, which has been at loggerheads with the Russian authorities for years owing to a major tax fraud case, now accuses the Raiffeisen Zentralbank (RZB) for having aided and abetted the money laundering.
September 14, 2010
Hypo: 700,000 € go from Berlin to KPMG
The auditing firm, formerly headed by the current Hypo-boss Kranebitter, received more money than previously known.
September 13, 2010
Erste Bank intends to become Austria´s leading bank by 2015
Erste Bank, the banking unit of Erste Group responsible for Austria, announced that it was planning to overtake Raiffeisen and become Austria´s leading bank by 2015.
September 10, 2010
Hypo Alpe-Adria-Bank - The new Group Press Officer
Dominic Köfner to take on the role of Group Press Officer for Hypo Alpe-Adria-Bank International AG (HGAA)
September 9, 2010
Horváth & Partners Study - CEE remains attractive
A new study of the Horváth & Partners Management Consultants studied the success factors for setting up the subsidiaries of production sites in CEE.
September 8, 2010
VBAG Group result for the first half of 2010: positive development continued
In the second quarter of 2010, Österreichische Volksbanken-AG (VBAG) Group confirmed the turnaround of the first quarter.
September 3, 2010
CA Immo International completes first phase of DIY store OBI in Romania
Construction phase one of the retail development project in Sibiu has been concluded - DIY store OBI opens with 9,700 sqm of usable space.
September 2, 2010
UBM with slightly improved results
Focus on hotels and housing, regional focus remains on Poland and Germany.
August 31, 2010
Raiffeisen Centrobank AG - Interim Financial Report released
Raiffeisen Centrobank made the biggest contribution to the result of the group with a profit after tax of EUR 14.401 mn.
August 31, 2010
Kommunalkredit back in black
Kommunalkredit AG earned €7.5m ($9.5) net, in the first half of 2010. It is the first period since the split in November 2009; a comparison with the previous year is therefore limited.
August 30, 2010
TeleTrader decreases loss, raises revenues slightly
TeleTrader, a stock-listed IT service provider, posted in H1 2010 a loss on ordinary activities of EUR 62,000 (US$ 48,819), which was slightly better than the loss in H1 2009 (EUR 170,000/US$ 215,900).
August 30, 2010
Austrian Banks in Central, Eastern and Southeastern Europe
According to a recent comparative study from the Austrian Central Bank (OeNB), the long-term commitment of Austrian banks in Central, Eastern and Southeastern Europe (CESEE) offers good prospects.
August 27, 2010
Raiffeisen Evolution shifting back
The real estate developer Raiffeisen evolution (RE) was significantly affected by the uncertainty in the property markets in 2009.
August 26, 2010
Allianz Austria registers profits
Allianz Austria has improved its half year results by around 45 per cent, which amounts to pre-crisis levels.
August 25, 2010
Eco Business back in black
The listed Eco Business Immobilien AG registers positive numbers in the first half of the year.
August 24, 2010
Meinl Bank compensates MEL-investors
The next 600 small investors may get back a third of their losses with MEL-papers. Overall Meinl Bank wants to pay out 3.2m ($4) and then retrieve the money from financial institutions.
August 20, 2010
VIG registers higher semi annual profit
The Vienna Insurance Group (VIG) earned €209.8m ($266) in the first half of 2010, which is over ten percent more than a year ago. While more premiums were taken up, paid benefits decreased.
August 20, 2010
AWD back in black
The financial services group AWD Holding AG returned to profitability and achieved a profit before interest and taxes (EBIT) of €20.4m. In the same period last year AWD had at deficit of €10.3m, the EBIT margin is at 7.8 percent.
August 18, 2010
AWS - Increasing demand for small loans
According to the Austria Economic Service (AWS) a significant increase in demand for small loans was registered in the first half of 2010.
August 17, 2010
Final result for the voluntary takeover bid for CA Immo International AG
In total CA Immobilien Anlagen AG now holds 42,217,340 shares of CA Immo International AG, this is equivalent to 97.14% of the issued share capital of CA Immo International AG.
August 17, 2010
C-QUADRAT Investment AG - Interim Financial Report as of 30 June
C-QUADRAT Investment AG concluded the first half year of 2010 with an operating income of €29.6m, an operating profit of €5.4m and a net profit of €8.5m.
August 16, 2010
New management at S&T Austria GmbH
Eduard Bugelnig, Patrick Schnebel and Robert Latka take over management of the Austrian subsidiary of S&T.
July 23, 2010
Vienna Insurance Group: increase the proportion of TBIH to 100 percent
After taking the lead in the TBIH Financial Services Group NV (TBIH), the Vienna Insurance Group agreed with Kardan Financial Services BV to acquire its minority stake of 40 percent.
July 23, 2010
Head of Erste Bank Treichl advocates stress test ranking
"Then, investors can visualize the results," said Treichl after a bankers' meeting with Trichet.
July 22, 2010
Austria attracts World Bank
Austria has concluded agreements for an official residence of the World Bank Group. It provides privileges similar to those of diplomats for employees of the international organization.
July 22, 2010
Hungary gives bank tax its blessing
The new Hungarian Prime Minister Viktor Orban will not abandon the highly controversial tax, as decided in Parliament.
July 22, 2010
Banks-Stress Test - Friday evening moment of truth
At 6pm the Association of European Banking Regulators publish the result of the test of 91 European financial institutions. In Austria, Erste Bank, RZB and Bank Austria will be tested.
July 21, 2010
Banks' equity - "Basel III costs 46 000 jobs"
The stricter rules for the equity of banks will reduce lending by up to 20 percent, says the Institute for Advanced Studies (IHS) in Vienna.
July 21, 2010
Constantia Packaging - shareholders will be reconciled with €47
The new owners of Constantia Packaging make cash payment of €47 ($60.61) per share to its minority shareholders.
July 20, 2010
East-Europe Bank - "Hungary carries risks of infection"
The proposed bank tax against the wishes of the IMF is not a good sign, says the head of the European Bank for Reconstruction and Development (EBRD).
July 20, 2010
OeNB stresses its commitment to reform
The Austrian National Bank (OeNB) has announced its continuation of current reform policy, in light of stringent austerity measures announcement. Simultaneously, the OeNB said in a press release that its nationalisation has no impact on its independence
July 19, 2010
Hungary rejects additional austerity measures
Hardened front between the Hungarian government on the one hand and the International Monetary Fund (IMF) and the EU on the other side: highly-indebted Hungary has ruled out further austerity measures.
July 19, 2010
Banks threaten with drastic job cuts
Bankers warnings on impact of the stricter financial rules, five to ten thousand jobs are threatened.
July 19, 2010
Stress tests - according to Cernko, Austrian Banks in the bottom third
Referring to speculation according to which Austrian banks with their relatively low equity ratio should not perform that well, Bank Austria CEO Willibald Cernko said "If one considers capital only, they will be at the top of the bottom third."
July 15, 2010
Vienna Stock Exchange buys 16.5 percent stake of the Ljubljana Stock Exchange
The Vienna stock exchange holding company, CEE Stock Exchange Group (CEESEG AG), has made some arrangements with minority shareholders of the Ljubljana Stock Exchange to purchase the remaining shares of its Slovenian subsidiary.
July 15, 2010
Stress tests could be price-sensitive information
At the political level it is fiercely debated how detailed the publication of the stress test should be. The FMA currently tests whether the stress test results are stock market relevant, compulsory publications.
July 14, 2010
Stress tests pose problems
Results of stress tests will be published later than expected - assumptions behind tests create uncertainty.
July 14, 2010
Local banks in stress test "within normal range"
OeNB Governor criticizes EU Commission: State aid procedure too long - debt reduction, dampening the economy Austria's banks performed within "the normal range, in midfield," the Governor of the Austrian National bank (OeNB) and Governing Council memb
July 13, 2010
UniCredit's Profumo proposes 20-billion rescue fund
Head of Bank-Austria parent UniCredit, Alessandro Profumo, has announced his ambitions for a privately financed € 20 billion heavy rescue fund for troubled European banks.
July 12, 2010
Transaction tax - OECD European solo attempt
According to Jeffrey Owens, head of the OECD's tax department, a transaction tax only makes sense if it relates to the financial centres on a global scale.
July 12, 2010
Crisis causing private bankruptcy
Unemployment and less income: more than 50,000 people last year turned to a debt counselling bodies.
July 12, 2010
Pröll on economic status quo, "thunder and lightning are over"
The EU has demonstrated that "it is able to act in one of the worst crises, even if there were some mistakes," says Austrian Finance Minister Josef Pröll.
July 12, 2010
Hungarian burden for Austro-banks
Raiffeisen International (RI) CEO Herbert Stepic expressed his concerns during a general conference.
July 9, 2010
Banks swap gold - Caused by Central banks?
European banks have tons of bunkers gold at the "Super Fed" BIS (Bank for International Settlement). But they could have acted only as intermediary.
July 8, 2010
Stress tests - Erste Bank and RZB on the list
91 European banks will have to undergo stress tests of European regulators. Two Austrian institutions will be tested as well.
July 8, 2010
AWD - Commercial Court allows class action
Consumer information association (VKI) goes to court on behalf of 1,300 investors.
July 7, 2010
Hungary rejects amendments to bank levy
At the start of negotiations with the International Monetary Fund (IMF), the Hungarian government ruled out an amendment of the introduction of the controversial bank tax.
July 7, 2010
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