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Bank Austria


VBAG No Systemic Bank Anymore

After the sale of VBAG´s subsidiary VBI to Russian Sberbank, the bank will not be systemic anymore, the Austrian Financial Market Authority announced.
January 21, 2012


Erste Group to Support Austrian Bonds

Erste Group considers putting effort in distributing Austrian sovereign bonds to its customers. Attractiveness should be increased, Erste Group says.
January 21, 2012


Growth of CEE Banking Sector Above European Average

2012 should remain a challenging year for CEE banking, with regulatory changes and European debt crisis as main risk factors, but Western European banks´ deleveraging should be a manageable drag.
January 18, 2012


2012 Brings Stagnation for Austrian Economy

According to Bank Austria´s economic indicator, Austrian economic growth will only reach 0.8% this year.
January 16, 2012


Bank Austria Lost Madoff Case

Bank Austria distributed Primeo Funds, issued by the U.S. former investment banker Bernard Madoff. The prospectus did not contain sufficient information, a Viennese court decided.
January 13, 2012


Austrian Banks Must Downsize in Hungary

Erste Group and Raiffeisen Bank International (RBI) must streamline their operations. Nevertheless, a further capital increase could become necessary.
January 12, 2012


CA Immo Secures Refinancing for Project in Budapest

The Austrian real estate company CA Immo has agreed on refinancing for an office building in Budapest with Bank Austria. The investment totals € 27.0m.
January 10, 2012


Experts Consider Sale of Bank Austria

After the sluggish capital increase of UniCredit, experts do not exclude a sale of Bank Austria, which operates the CEE business.
January 10, 2012


Real Invest Austria Sees “Strong Growth”

Real Invest Austria, a subsidiary of Bank Austria, has over € 1.7bn under management. Outlook for 2012: Further expansion of real estate assets planned.
January 9, 2012


Concerns Over Bank Austria´s Holding Company

Share prices of the Italian UniCredit fell drastically over the last days. The major bank urgently needs a capital increase.
January 7, 2012


Hungary: High Losses for Banks

According to the Hungarian banking association, costs for the coerced conversion of foreign currency loans reach about € 952m.
January 4, 2012


Styrian Mining Company Causes Problems for Austrian Banks

The Austrian mining company Decometal has debts reaching € 250m. Now, the company will be restructured. Loans must be extended.
December 28, 2011


Bank Austria Expects Positive Results

In spite of high losses in the third quarter, the subsidiary of the Italian UniCredit forecasts slight, but positive results.
December 28, 2011


UniCredit Plans to Abolish “Bank Austria” Brand

The Italian group will rename several subsidiaries in order to standardize its brand presence.
December 22, 2011


Fitch Calls for Higher Capitalization of VBAG, Raiffeisen, Erste

The Austrian banks’ viability ratings are under pressure due to low capitalization and the banks’ exposure to CEE.
December 21, 2011


VBAG Sells Insurance Segment

The Austrian Volksbanken AG sells its stake in Victoria Volksbanken to Ergo Austria.
December 20, 2011


Stagnation Expected for Austria

The Austrian economy is weakening steadily into the New Year. The Bank Austria Business Indicator continued to decline in November turning slightly negative as in the previous month.
December 17, 2011


Legal Success for Bank Austria

A Swiss court granted the bank’s appeal against an obligation to pay € 245m to a German public body.
December 2, 2011


Austrian Industry Contracts Further

Bank Austria’s Purchasing Managers’ Index has fallen to the lowest level for two and a half years, reflecting a lack of new orders.
December 1, 2011


FACC Builds R&D Center in Upper Austria

The Austrian aircraft component manufacturer invests a total of € 54m in the project. Turnover is expected to increase by 20% to € 330m in the current year.
November 18, 2011


Economic Downturn Becomes More Obvious

Due to the strong development in the first half year, Austria´s economic growth will amount to 2.9% in 2011. However, for 2012 the growth rate will decrease significantly.
November 16, 2011


Jobs to be Cut at Bank Austria

After the announcement of high write-offs yesterday, the Austrian subsidiary of UniCredit will reduce its staff from 10,800 to 10,000 by 2015.
November 15, 2011


High Losses for Bank Austria

Due to high write-offs in Ukraine and Kazakhstan, losses amount to € 600m in the third quarter. The first nine months bring profits of only € 4.5m.
November 14, 2011


UniCredit to Withdraw from CEE?

The holding company of Bank Austria, the Italian UniCredit, may close its operations in Eastern Europe. The consequences for Bank Austria are unknown.
November 14, 2011


Erich Hampel New Chairman of Bank Austria’s Supervisory Board

The Austrian succeeds Paolo Fiorentino who will remain on the board as deputy chairman.
November 3, 2011


Austrian Industry Falls into Recession

Bank Austria’s Purchasing Managers’ Index shows a further deterioration of the economic situation. A slight recession is expected for the next months.
October 28, 2011


Greek Haircut Would Cost Another € 350m

Austrian banks still have a substantial exposure in Greece. A haircut up to 60% seems possible. Then, another € 350m would have to be written off.
October 18, 2011


Stagnation Expected in Austria for 2011

Insecurity and a lack in foreign demand will cause a massive slowdown of the Austrian economy in 2012. Consumers and companies become more cautious.
October 17, 2011


Austrian Motor Vehicle Industry Prospers

Vehicle production recovered completely in 2010 – high commodity prices hindered significant earnings growth. In 2011, sales will reach € 14bn again.
October 17, 2011


Austrian Economy Cooling Down Rapidly

Drastic deterioration in industrial climate and consumer sentiment point to a break in the economic recovery in the second half of 2011.Economic outlook for 2012 lowered to just 1.4 per cent.
October 15, 2011


Still Danger of Overheating in SEE Property Markets

According to the “Bank Austria Real Estate Country Facts”, commercial property markets in Croatia, Serbia and Slovenia are gaining ground, but risks of overheating remains.
October 15, 2011


Bank Austria Rethinks Expansion in Hungary

The subsidiary of Italian UniCredit reviews its activities in the country. A withdrawal is not ruled out.
October 12, 2011


Bank Austria Optimizing its Activities in Russia

Sergey Sidorov to remain CEO until year end and to support the organizational and strategic Changes. Alexander Cheporov to become Head of Equity Brokerage Operations.
October 11, 2011


UniCredit: Sale of Bank Austria?

According to market rumors, the Italian bank considers to sell its Austrian subsidiary in order to strengthen its own position. Bank Austria´s CEO Cernko denies fiercely.
October 8, 2011


Economic Growth to Slow Down Significantly

Industry and consumer sentiment is at its lowest level since mid-2010. The GDP growth rate is predicted to fall to 1.8% in 2012.
August 12, 2011


Significant Increase in Profit for Bank Austria

The Austrian subsidiary of UniCredit achieved a plus in net profit of 52% despite a negative one-off effect of € 100m from Greek government bonds.
August 4, 2011


Bank Austria Finances Portfolio of Apartment Houses in Vienna

The Austrian bank generates a stimulus for Vienna’s real estate market and finances 53 apartment houses with € 110m.
August 2, 2011


Immofinanz Completed Sale of Office Campus Gasometer

The Austrian real estate company and its partner sold an office property in Vienna for € 75m to Bank Austria Real Invest.
August 1, 2011


“Austria Was Boosted by EU Accession, Euro and Opening to Eastern Europe”

Bank Austria analyzed the development of Austria since the EU accession in 1995. It concluded that the economy has taken full advantage of the opportunities offered by the changes.
July 28, 2011


Helmut Bernkopf New Head of UniCredit’s Private Banking Division

Bank Austria’s Head of Corporate and Investment Banking moves up the career ladder and becomes boss of the parent company’s Private banking division.
July 12, 2011


European Stress Test Results to Be Published on July 15

The test performance of 91 participating banks will be available next week. According to Moody’s, Austrian Volksbanken AG is at risk of failing the test.
July 8, 2011


Industrial Activity Is Cooling Down

Growth of Austrian industrial production has reached its lowest level since the beginning of 2010. The rate of job creation is leveling off.
June 29, 2011


No Money from Al Jaber: Restructuring of Kneissl Has Failed

The last attempt to rescue the Tyrolian ski manufacturer has failed as majority owner Al Jaber has not transferred the € 2.1m necessary to continue business. The company will be liquidated.
June 15, 2011


Bank Austria: Austrian Industry Cooling Down

Growth of industrial production has slowed down in Austria, especially in the export sector. Job creation is still on a high level, but also losing pace.
May 31, 2011


Fitch Upgrades Individual Ratings of Austrian Banks

The “A” rating of the big Austrian banks has been confirmed. The individual rating of Erste, RBI and Bank Austria was upgraded.
May 25, 2011


Bank Austria Invests in the Turnaround of its Kazakh Subsidiary

Bank Austria increases ATF’s capital in order to make it profitable. Loss in the year 2010 amounted to € 163m.
May 16, 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


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


Al Jaber in Distress

Saudi investor Mohamed Al Jaber has to fight on several fronts in Austria. Kneissl awaits restructuring, loans are due.
April 23, 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