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Bank Aids

Arab Partner for RBI?

Karl Sevelda, CEO of Raiffeisen Bank International, indicated that an Arab investor may become a shareholder.

August 5, 2013

„Too Many Banks in Austria“

Hannes Androsch, President of the Austrian bank holding Fimbag, warns that Austria´s exposure in CESEE countries is disproportionately high.

November 28, 2012

European Commission Approves State Aid for VBAG

The European Commission has today approved the comprehensive restructuring plan developed by Österreichische Volksbanken-AG (VBAG) in the wake of the financial and economic crisis to restore long-term profitability.

September 19, 2012

Costs of Austrian Banking Package: € 2.36bn

Since 2008, the Austrian government has resolved rescue packages worth € 21bn. Expenses totaled € 4.169bn, revenues reached € 1.814bn.

September 19, 2012

Fekter Does Not Exclude Further Bank Aids Anymore

Austria´s Finance Minister Maria Fekter admits that the three nationalized banks Hypo Group and Kommunalkredit/KA Finanz may need further capital injections. In the past, Fekter denied the need of further bank aids.

August 23, 2012

FMA Pushes for Bank Insolvency Law

The Austrian Financial Market Authority increases pressure on the government. Director Helmut Ettl says the Austria needs an insolvency law for banks as soon as possible.

August 7, 2012

Kommunalkredit´s KA Finanz Needs New Guarantees

Because of its exposure in Greece, the nationalized Austrian lender needs further guarantees from the Austrian state.

August 6, 2012

Austrian Bank Aids: Losses Total € 3.4bn

The nationalized banks are a substantial risk factor for Austria´s budget. Losses may increase further.

July 23, 2012

Hypo Group: „As Little Bank Aids as Possible“

Hypo Group Alpe Adria´s CEO Gottwald is unhappy with reports that the state-owned bank may need further bank aids.

July 20, 2012

Stability of Austrian Budget Endangered

Public expenses are on the rise. At the same time, the tax intake shrinks. Economist Felderer warns of expensive election gifts.

July 12, 2012

Volksbanken Sector to Become Merged

After months of negotiations, the merger between VBAG and the 52 Volksbanken is resolved. The merger was the prerequisite for getting bank aids.

June 30, 2012

RZB Wants to Keep Austrian Deposit Protection

Raiffeisen Zentralbank´s CEO Walter Rothensteiner is skeptical of the European deposit protection proposal.

June 15, 2012

Kommunalkredit Sale: Austria Hires Morgan Stanley

The nationalized Austrian lender Kommunalkredit should be sold until 2013. The U.S. investment bank should act as commission agent.

June 6, 2012

Participation Capital: € 98m Interest Payment by Erste Group

The Austrian bank pays € 98m in interest to the Republic of Austria.

May 31, 2012

Androsch Criticizes Hypo Group Purchase

In 2009, the Austrian state nationalized the financially stricken Hypo Group. Much time was wasted, the industrialist and Fimbag board member Hannes Androsch thinks.

May 30, 2012

Austrian Budget Target Endangered

In spite of decreasing revenues and rising expenses, Austria´s Minister of Finance Maria Fekter expects to reach the budget target.

May 30, 2012

Exposure in Eastern Europe Remains Austria´s Weak Point

The Commission of the European Union warned Austria of the big exposure of domestic banks in Eastern Europe. Moreover, the austerity package was criticized.

May 30, 2012

Substantial Losses at Volksbanken

The main shareholders of Austrian VBAG had to write down € 333m last year.

May 26, 2012

Sorger Underlines Austrian Crisis Management

The President of the Federation of Austrian Industries Veit Sorger reaffirms the necessity of austerity and investments of the private sector.

May 19, 2012

Cerberus May Sell Bawag

Five years ago, the U.S. investment fund Cerberus acquired the financially stricken Austrian Bawag bank. Next week, the retention period expires.

May 12, 2012

OeNB: “Nationalizations Are Clean Up”

Austria’s central bank (OeNB) said that the nationalization of three of the nation’s lenders helped clean up the structure of the domestic banking industry.

April 17, 2012

Fekter Nominates Koren as VBAG´s Chief Executive

Maria Fekter, the Austrian Minister of Finance said that Stephan Koren already agreed to become CEO of the partly nationalized bank VBAG.

April 14, 2012

S&P: Austrian Banks Still Weakly Capitalized

The U.S. rating agency S&P regards Austrian banks to record high capital shortfalls.

April 11, 2012

„Bank Aids Are Lost“

The economist Franz Hahn (WIFO, Austrian Institute of Economic Research) argues that the nationalized banks are not interesting for potential buyers.

April 10, 2012

VBAG Records Losses of € 1.35bn

Due to high write-offs in Hungary and Romania, the Austrian nationalized bank registered major losses in 2011. Thus, the capital injection covers these losses only partially.

April 5, 2012

RBI: No Capital Increase

Christian Konrad, general attorney of the Raiffeisen sector, is against a capital increase at RBI (Raiffeisen Bank International). The 9.0% tier-1 quota will be reached without that measure, Konrad is convinced.

March 23, 2012

Bawag to Refund Bank Aid in 2014 by Earliest

The U.S. owned bank was the only one in Austria which could increase its profits last year. The restructuring is successfully completed.

March 17, 2012

Nowotny: Capital Shortfall at Hypo Group „Substantially Less Than € 10bn”

The governor of the Austrian Central Bank (OeNB) repulses reports stating that the nationalized bank Hypo Group needs capital injections of € 10bn.

March 10, 2012

Ghizzoni: „Austrian Bank Tax Is Painful“

The Chief Executive Officer of UniCredit, the holding company of Bank Austria emphasizes not to sell the Austrian subsidiary. The bank tax is “unfair”.

March 10, 2012

Cernko Criticizes VBAG Bail-Out

Willibald Cernko, CEO of Bank Austria considers that the Austrian state reacted too late. A partly nationalization could have taken place already one year before.

March 9, 2012

Bank Taxes: Nowotny Supports Government

OeNB´s governor Ewald Nowotny defends the coalition plans to raise bank taxes by 25%.

March 7, 2012

Fitch Confirms Rating for VBAG

The U.S. rating agency retains the A rating for the fourth largest Austrian bank.

March 7, 2012

Public Debt Agency: “Unnecessary to Change Bonds Issuance Plans”

Austria sees no need to change its debt issuance program and is sticking to its plan to stay below the European Union’s deficit ceiling this year even as it injects cash into Oesterreichische Volksbanken AG (VBPS) and KA Finanz.

March 6, 2012

Taxation of Pension Funds: One-Time Effect of € 900m

In order to restructure the financially stricken VBAG, the Austrian government anticipates taxes on pension funds. As a result, € 75m will lack in future.

March 6, 2012

EU ‘Surprised’ Austria Didn’t Warn on VBAG, Almunia Says

The European Commission was “surprised” Austria didn’t warn it about plans to bail out Oesterreichische Volksbanken AG (VBPS), according to Joaquin Almunia, the region’s commissioner responsible for approving state aid.

March 5, 2012

Fekter: Up to € 1.0bn for Kommunalkredit

In case of a default of Greek sovereign bonds, the Austrian state would have to grant € 1.0bn to the nationalized bank Kommunalkredit.

March 3, 2012

State Aid: VBAG Redeems € 1.0bn

The Austrian VBAG repays a third of the state aid granted in 2009.

February 13, 2012

Losses for Kommunalkredit Probable

The nationalized Austrian Bank has to build major provisions. Write-offs up to € 500m are possible.

November 1, 2011

€ 4.0bn Capital Requirement for Austrian Banks

After the industrialist Hannes Androsch, also the Vice-President of the Austrian Central Bank (OeNB), Wolfgang Duchatczek, sees a need to support domestic banks.

October 17, 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

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

EU - Austria granted to extend bank aid package

The European Commission extended the authorization for the Austrian bank rescue package of €100b ($123b) for half a year.

June 25, 2010