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Austrian Securities Market and Stock Exchange News and Analysis

Fitch Keeps Slovak Rating Unchanged

Slovakia´s issuer default rating was kept unchanged at “A+”. The outlooks remain stable.

March 1, 2014

Treichl: „Not Afraid of Hypo Group Bankruptcy“

Andreas Treichl, CEO of Vienna-listed Erste Group does not think that a potential bankruptcy of the nationalized lender Hypo Group Alpe Adria would affect Erste Group´s rating.

March 1, 2014

Uniqa: „We Will Not Leave Ukraine“

Andreas Brandstetter, CEO of the Austrian insurance group is “highly satisfied” with the Ukrainian affiliate.

March 1, 2014

Hypo Group: Five Potential Buyers for CESEE Affiliates

Alexander Picker, CEO of the nationalized bank Hypo Group Alpe Adria, is optimistic that the affiliates in the Western Balkan countries may be sold until the end of 2014.

March 1, 2014

Moody´s Confirms Austria´s Rating Despite Hypo Group Disaster

The rating agency has reiterated Austria´s top sovereign debt rating. Moreover, the outlook was upgraded from “negative” to “stable”.

March 1, 2014

Polish Currency Suffers from Instability in Ukraine

The Polish Zloty has become weaker because of the political instability in Ukraine.

February 28, 2014

Erste Group: Profits Decline

Erste Group posts net profit of EUR 61.0 million in 2013 and improves capital ratios.

February 28, 2014

Poland: PKO BP Takes over Nordea’s Insurance Division

Polish financial market regulator KNF has finally approved the takeover of life insurance company Nordea TUnZ by PKO BP.

February 27, 2014

Austrian Banks with Significant Exposure in Ukraine

Ukrainian crisis hits Western Banks in different state compared to 2008/09, according to RBI.

February 27, 2014

Hypo Group: New Figures Added to Number Games

The number games in regard to Hypo Group’s downsizing to not seem to cease. New figures will be released by the bank’s task force at the beginning of next week.

February 27, 2014

Hungary: Customers Fleeced by Banks

For the first time in three years Hungarian commercial banks have returned to profitability. However, extra cost, caused by political circumstances, was passed on to clients.

February 26, 2014

The Bank Branch of the Future Already in its Beginnings

Since 2008 the branch network of banks in the Eurozone has been shrinking. Likewise, banks struggle for client contacts in order to increase the client base.

February 25, 2014

Ukraine: Austrian Banks Reopened Branches

After the political disaster in the Ukraine all bank shops in the country’s capital Kyiv have opened again on Monday.

February 25, 2014

Hypo Group: Nowotny Calls for Fast Proceeding

Newly designated head of Hypo Group’s task force, Governor of the Austrian National Bank (OeNB) Ewald Nowotny, calls upon the government to fastly proceed with the downsizing of the ailing bank.

February 24, 2014

Warsaw Stock Exchange Registers Profits

The operator of Warsaw Stock Exchange (WSE) GPW saw an increase in profits in the business year 2013.

February 24, 2014

Austria: Spindelegger under Attack

Finance Minister Spindelegger is under attack by former head of Hypo Group’s task force, Liebscher.

February 24, 2014

Slovenia: NLB Reports Losses in Business Year 2013

The biggest lender in Slovenia has amounted considerable losses because of having been forced to create loan loss provisions.

February 22, 2014

Hypo Group: Nowotny to Replace Liebscher

After Liebscher, head of Hypo Group’s task force, announced throwing in the towel Nowotny, Governor of the Austrian National Bank (OeNB), will become his successor.

February 22, 2014

Felderer: Insolvency More Expensive Than Bad Bank

According to Felderer, president of the fiscal council, the option of insolvency for Hypo Group Alpe Adria is more expensive than the establishing of a national bad bank

February 22, 2014

Government Examines Haircut of Hypo Group’s Investors

Ignoring the warnings of Hypo Group’s task force, Finance Minister Michael Spindelegger now wants investors in Hypo Group to participate in the restructuring of the ailing bank.

February 21, 2014

CEE Financial Markets under Pressure as Riots Continue in Ukraine

CEE markets under pressure as Ukraine violence heats up. Biggest direct risk to Polish Zloty, but also to Hungarian Forint and Romanian Leu.

February 21, 2014

Serbia: Structural Reforms to Boost FDI

Recent projections of the National Bank of Serbia (NBS) forecast foreign direct investments (FDI) to increase to € 1bn this year up from € 750m.

February 21, 2014

Fitch Keeps Rating for Austria at High Level

According to the Rating agency the downsizing of Hypo Group will burden the debt rate. However, the outlook for the country’s credibility was left at a “stable” outlook.

February 21, 2014

Spindelegger: Taxpayers Should Not Carry Whole Load

Finance Minister Spindelegger declared himself in favor of a haircut of creditors of problem bank Hypo Group.

February 20, 2014

Serbian Governor: Banking Sector Stable

According to Tabakovic, governor of NBS, the Serbian banking sector was solvent and well-capitalized.

February 20, 2014

Hypo Disaster: Who Are the Beneficiaries?

International investment companies, funds and domestic banks are the major recipients of the billions of Euros in the Hypo Group disaster.

February 19, 2014

Picker: Hypo to Cost Taxpayers “Only” up to € 4bn

According to CEO of Hypo Group Alpe Adria Picker, the ailing bank will burden taxpayers with “only“ € 4bn at the most. Head of IHS, Keuschnigg, warns the Austrian policy-makers of forwarding costs to bondholders.

February 19, 2014

Austria: Moody’s Downgrades Four Bonds

Moody’s downgraded four bonds of Austrian banks on Tuesday. The outlook is negative.

February 19, 2014

Erste: CEE Financial Market Not Concerned by Low Inflation

Low inflation will not change CEE market forecasts, according to Erste Group.

February 18, 2014

Poland: PKO BK Still Wants to Take Over Nordea

PKO BP had to extend the subscription period for the second time.

February 18, 2014

Nowotny: Negative Interest Rate Conveys Feeling of Crisis

Ewald Nowotny, member of the Council of the ECB (European Central Bank) and governor of the Austrian National Bank (OeNB), expressed his rejection regarding a possible negative interest rate for banks.

February 18, 2014

Romania: Fit for Eurozone?

According to estimates by the Romanian government, the country is fit for joining the single currency union.

February 17, 2014

Cooperation between Vienna and Warsaw Stock Exchanges to Kickstart 2014

As announced by Adam Maciejewski, CEO of GPW, the operator of the Warsaw Stock Exchange (WSE), the cooperation between WSE and VSE (Vienna Stock Exchange) could be completed this year.

February 17, 2014

Fitch Keeps Polish Sovereign Rating Unchanged

The U.S. rating agency has reassessed Poland´s sovereign debt rating.

February 15, 2014

Threat of Bankruptcy: Moody´s Cuts Hypo Group Alpe Adria´s Rating

The U.S. rating agency downgrades the rating of the Austrian nationalized lender by four notches. Moody´s referred to the uncertainty and the vague statements of the Austrian government.

February 15, 2014 · Updated: February 15, 2014; 18:47

Dramatic Capital Outflow in CESEE

The countries of Central, Eastern and Southeastern Europe suffer from the dependence on foreign investments. Despite the economic recovery, FDIs are falling persistently.

February 15, 2014

Austria: Changes Ahead of Buwog’s IPO

Buwog, residential builiding affiliate of real estate company Immofinanz, will be listed from April 28 on and is supposed to become a candidate for the leading Austrian index ATX at the Vienna Stock Exchange (VSE).

February 14, 2014

Poland: PKO BP Planning to Establish Mortgage Bank

The Polish bank intends to found a mortage bank around the beginning of the year 2015.

February 14, 2014

Serbia: Key Rate Kept Untouched

The board of the National Bank of Serbia (NBS) underlined the importance of a cautious monetary policy in the light of the current economic developments.

February 14, 2014

„We Were Cheated by BayernLB“

Hannes Androsch, head of the Hypo Group task force, thinks that the former Austrian government has made serious mistakes.

February 13, 2014

RBI Raises Another € 500m

After the capital increase, the Vienna-listed lender has raised capital in the amount of € 500m. The emission was significantly oversubscribed.

February 13, 2014

Immofinanz Kicking Off IPO of Buwog

Listed real estate company Immofinanz is kicking off its inital puplic offering of residential real estate affiliate Buwog.

February 13, 2014

Banks Lose Credibility and Trust

A survey reveals the fear of financial institutes enriching themselves at the expense of of private persons is widely spread.

February 12, 2014

Poland: Consumer Loans Expected to Rise Significantly

Last year consumer loans saw a 16 percent growth which leads to expecations that Poland will register a double-digit growth rate in 2014 as well.

February 12, 2014

Cernko: Wealthy to Support R&D in Austria

The CEO of Bank Austria calls upon the Austrian government to take into consideration the funding of research and development by wealthy individuals and regard this as part of their “tax duty”.

February 12, 2014

Challenging Business Environment for Croatian Banks

Last year profits of Croatian banks declined more than 73 percent.

February 12, 2014

Erste Group: Net Results Below Expectations

Erste Group provides business update for 2013: Improvement in risk costs is outweighed by one-off items and tax effects, impacting net profit

February 11, 2014

Ukraine: Tough Market for Foreign Banks

The coming two years will be challenging for foreign banks operating in Ukraine.

February 11, 2014

Vienna Insurance Group Shines in the Czech Republic

VIG continues to expand its market leadership in its largest CEE market.

February 11, 2014

RBI: Capital Increase Successfully Completed

RBI capital increase confirms excellent environment for raising capital on the Vienna Stock Exchange.

February 11, 2014