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Bad Banks

Austria: VBAG Downgraded to Junk Status

Moody´s has lowered VBAG´s rating. According to the rating agency, the partly nationalized Austrian bank has no investment grade anymore.

March 29, 2014

KA Finanz: No More State Aids Necessary

The nationalized Austrian bad bank has finished the loss-making sale of credit default swaps. In the last six years, KA Finanz has downsized radically.

March 29, 2014

Hypo Group: New Supervisory Board President

Herbert Walter becomes head of the nationalized Austrian Balkan lender Hypo Group Alpe Adria. According to Austrian Finance Minister Michael Spindelegger, Hypo Group needs even more capital injections.

March 24, 2014

Austria: Painful Austerity Measures Ahead

The Austrian public debt level grows massively. The disaster of the nationalized Balkan lender Hypo Group Alpe Adria is not the only reason for the unfavorable situation.

March 10, 2014

S&P: European Banking Sector Faces Worse Ratings

According to the rating agency, the public support for the European banking sector is essential in many cases. Without financial support, banks might be downgraded.

March 5, 2014

„Austria Needs an Excellent Minister of Finance“

Andreas Treichl, CEO of the third-biggest lender in Central, Eastern and Southeastern Europe expressed subtle doubt as to whether Michael Spindelegger is the right person for the job.

March 2, 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

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

Hypo Group Alpe Adria: Nowotny Attacks Fekter

Governor of the Austrian National Bank (OeNB) Ewald Nowotny criticizes former Minister of Finance Maria Fekter sharply and blames her for inactivity.

February 15, 2014 · Updated: February 15, 2014; 18:19

„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

Hypo Group Alpe Adria: The War of Nerves Has Begun

The Austrian government puts enormous pressure on the Austrian banking sector and does not exclude Hypo Group´s orderly bankruptcy anymore. The Austrian banking sector insistently warns of this option.

February 9, 2014 · Updated: February 9, 2014; 23:41

Sale of Bad Assets: UniCredit Under Pressure

The parent company of Bank Austria, the Italian lender UniCredit, wants to sell its risky assets as soon as possible. Insiders report that UniCredit wants to sell its “bad bank”.

February 8, 2014 · Updated: February 8, 2014; 14:12

Hypo Group: Sale of Assets in SEE to Take Forms

The nationalized Austrian bank Hypo Group sells its assets in Southeastern Europe. The SEE-holding company will be established until the beginning of October.

September 29, 2013

Slovenia: New Coalition Stands

Slovenia´s new Prime Minister Alenka Bratusek is the head of a four-party-coalition.

March 13, 2013

Slovenia: Jansa Remains Prime Minister

Today, Slovenia´s Parliament will elect a new official head of government. However, Jansa will continue the government business.

February 27, 2013

“Sale of Kommunalkredit Will Take Some Time”

Ewald Nowotny, governor of Austrian National Bank, believes that the sale of the nationalized Austrian banking group will take some years.

February 18, 2013

Slovenia: Citizens Protest Against Austerity Cuts

The austerity policy of the centre-right government faces fierce resistance by the trade union and citizen´s movements.

December 18, 2012

Slovenia to Inject Further Money in NLB

The biggest Slovenian banking group NLB records a capital shortfall of € 375m. Risky loans reach more than € 1.5bn.

November 29, 2012

Slovenia Still Rules Out Calling for Rescue

The Slovenian government tries to prevent to be bailed out by the EU and IMF by all means. However, experts fear that Slovenia is the next candidate for the safety net.

November 10, 2012

Slovenia: Creation of Bad Bank Should Solve Credit Crunch

At the moment, the Slovenian banking sector does not fulfill its main task. The real industry suffers from a credit crunch.

November 6, 2012

Slovenia: Foundation of Bad Bank Proves Difficult

After the approval of the Slovenian Parliament, the government faces a public vote on the creation of a bad bank and an industrial holding group.

October 24, 2012

Austrian Tax Quota to Increase

Austria´s Finance Minister Maria Fekter expects a higher tax intake in 2013. Next year, the tax quota will grow slightly to 43%. In order to prevent further expenses, Fekter rejects creating bad banks.

October 20, 2012

Slovenian Parliament Approves Creation of Bad Bank

The Slovenian state creates a bad bank in order to restructure the financially stricken banking sector.

October 4, 2012

Crucial Days for Slovenia

This week, Slovenia´s Parliament may decide on establishing a bad bank. After Prime Minister Janez Jansa warned of a national bankruptcy, the Slovenian opposition is under pressure.

September 26, 2012

KA Finanz Tries to Sit Out Greek Crisis

The nationalized Austrian bank has an exposure of € 980m in Greece. CEO Steinbichler hopes not to participate in the haircut.

February 21, 2012