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Stepic on Austrian Banking Sector: „There is some Need for Reforms”
In an interview with the Austrian newspaper “Presse”, RBI`s (Raiffeisen Bank International) CEO Herbert Stepic explains that the current situation of the Austrian banking sector is ambiguous.
January 19, 2013 · Updated: January 19, 2013; 19:31
Croatia: Dispute with Slovenia May Postpone EU Accession
In July, Croatia should become a member country of the EU. However, the legal dispute with Slovenia is still an obstacle. The neighbor country may cause a delay of Croatia´s accession.
January 17, 2013
VBAG: Raiffeisen Tries to Justify Breach of Contract
In an interview with the Austrian newspaper “Standard”, RZB´s (Raiffeisen Zentralbank) CEO Walter Rothensteiner explains why the banking group did not acquire loas from VBAG.
January 16, 2013
Nowotny: “The Worst Is Over”
OeNB´s (Austrian National Bank) governor Ewald Nowotny thinks that the economic situation in the Eurozone has become more stable.
January 16, 2013
Erste Group: Austerity Cuts Also in Austria
After sharp austerity measures in Romania and Hungary, the banking group wants to reduce personnel costs in Austria.
January 15, 2013
Stepic: „CESEE Region Faces Challenging Year“
RBI´s (Raiffeisen Bank International) CEO Herbert Stepic explained that central, eastern and southeastern Europe is still Europe´s growth engine.
January 15, 2013
CEE Banking Study 2013: “Banks Rebalance Their Business Models” (3)
Foreign players have an important role in the local markets and increased the share of CEE assets within their groups' total assets over the last years.
January 15, 2013
CEE Banking Study 2013: “Banks Rebalance Their Business Models” (2)
Total assets and lending have grown steadily since 2008, even though at a slower pace than before the crisis and with a stronger focus on domestic funding sources.
January 15, 2013
CEE Banking Study 2013: “Banks Rebalance Their Business Models” (1)
The CEE banking sector keeps showing good profitability with revenue margins narrowing but still above Western European levels.
January 15, 2013
New Elections in Slovenia?
The government crisis in Slovenia sharpens. Economists warn of a leftist coalition.
January 15, 2013
Erste Group: Massive Write-Downs in Romania
The Austrian banking group reduces goodwill by € 300 million.
January 15, 2013
CESEE: Chakrabarti Expects Stabilization
In an interview with the Austrian news magazine „Standard“, EBRD´s President Suma Chakrabarti demonstrates cautious optimism. 2013 will be a better year for the CESEE region, he says.
January 14, 2013
VBAG: High Losses Ahead
The partially nationalized Austrian bank is expected to record losses of more than € 150m in 2012.
January 12, 2013
Austrian Equity Market: RBI Demonstrates Optimism
Raiffeisen Bank International: “Buy recommendations for Austrian and CEE shares: RHI, CA Immo, Bogdanka, Ciech and MTS”.
January 10, 2013
Hungary Suffers from Capital Outflow
Hungary´s banking industry faces a substantial loss of confidence. More and more Hungarians shift their deposits to foreign banks.
January 9, 2013
2013: Where Will Growth Come From?
Where Will Growth in the Euro Zone and the US Come From? GDP growth in Austria is expected to reach 0.9% this year, Erste Group says.
January 9, 2013
Serbia: Doubts About Economic Development
Milos Bugarin, President of Serbia´s Chamber of Commerce demonstrates skepticism regarding the economic outlook issued by the government.
January 7, 2013
Aiginger Praises and Criticizes Austria´s Economic Policy
Although Austria´s economic situation is relatively satisfying, there is much improvement potential, the economist Karl Aiginger says.
January 5, 2013
Poland Plans Bank Taxes
The Polish government considers introducing bank taxes in order to stabilize the banking sector.
January 4, 2013
Austrian FMA Sharpens Lending Rules for Foreign Currency Loans
The Austrian Financial Market Authority changes the rules for banks which grant foreign currency loans.
January 2, 2013
Poland Promotes Privatizations
This year, Poland´s revenues from privatizations total more than € 2.3bn.
December 30, 2012
Bawag Concludes Capital Increase of € 200m
Equity capital raise from current shareholders and investors further strengthens BAWAG P.S.K.’s capital position. Cerberus´ share goes down to 52%.
December 28, 2012
Slovenia: Sustersic Rules Out Coming Under Rescue Umbrella
In an interview with the Austrian news magazine “Standard”, Slovenia´s Minister of Finance Janez Sustersic says that his country is not candidate for the safety net ESM.
December 28, 2012
WIFO: „Shut Down Hypo Group“
The Austrian Institute of Economic Research (WIFO) recommends closing the nationalized banking group. The number of banks is expected to shrink radically.
December 27, 2012
Bawag: Changes in Management Board
Retail director Wolfgang Klein becomes Deputy CEO of the Austrian bank. Corey Plinkston joins the management board. Byron Haynes keeps his position as CEO:
December 22, 2012
Hypo Group: Supervisory Board Wants Bad Bank
Johannes Ditz, chairman of Hypo Group´s supervisory board thinks that the bank will need even more time to scale-down its risky assets.
December 22, 2012
RZB: „Hypo Group Is No Issue“
Walter Rothensteiner, CEO of Austrian RZB (Raiffeisen Zentralbank) will not bid for Hypo Group´s subsidiaries.
December 21, 2012
CESEE: Deposit Growth Slows Down
Given the sketched regional loan growth dynamics and their most important drivers it comes as no surprise that deposit growth rates in CEE also decelerated in recent months, Raiffeisen Research states.
December 21, 2012
Bank Taxes: RZB Records Costs of € 168m
For Austrian RZB (Raiffeisen Zentralbank), bank taxes in Austria, Hungary and Slovakia come at € 168m. RZB will not leave Hungary, CEO Rothensteiner says.
December 20, 2012
CESEE Asset Quality: “Not out of the woods”
In terms of asset quality the banking sector trends in CEE remain a mixed bag, Raiffeisen Research says.
December 20, 2012
Erste Group Withdraws from Ukraine
Austrian Erste Group enters into an agreement to sell Erste Bank Ukraine.
December 20, 2012
Raiffeisen: “No signs of a regional deleveraging trend in CEE”
Cross-border exposures of European BIS-reporting banks to CEE (and the subregions CE and SEE) showed a modest decline in Q2 2012. This performance was driven by a cut in more or less all relevant CEE countries.
December 20, 2012
CESEE Banking Sector: Improving Market sentiment, but Slower Growth
The average CEE loan growth slowed to16-17% yoy in Q3 from 19% in Q1/Q2, Raiffeisen Research says.
December 20, 2012
Poland: Recovery in Mid-2013
Poland´s new Deputy Prime Minister Janusz Piechocinski forecasts an upward trend beginning in the second half of next year.
December 20, 2012
Slovenia: No Referenda Against Austerity Policy
The Slovenian Constitutional Court decided that the Slovenians will not hold a public vote on the creation of a bad bank and the privatization policy.
December 20, 2012
Bank Austria: Poland and Turkey are Most Attractive
According to Bank Austria´s board member Gianni Franco Papa, the performance of CESEE markets is satisfying.
December 19, 2012
Erste Group: Massive Cuts in Romania
Due to the weak performance of BCR, the Austrian bank plans to lay off 1,600 employees in Romania. BCR´s NPL quota remains on a high level.
December 18, 2012
Sale of Kommunalkredit to Be Postponed
The sale of the Austrian nationalized bank will not be sold by the end of the year. Austria´s Ministry of Finance postpones the signing by three months.
December 17, 2012
Sharp Attack Against Hypo Group
The legal dispute between Austrian Hypo Group and German BayernLB escalates. The majority owner of BayernLB announced that Hypo Group´s lawsuit will be fought by all means.
December 15, 2012
Banking Union: Czech Republic Cautious
For the time being, the Czech Republic will not join the single supervising mechanism.
December 15, 2012
Austria: BWB Approves New Shareholder at Bawag
The U.S. investment fund Golden Tree Asset Management becomes the second core shareholder of the Austrian bank.
December 14, 2012
Bulgaria: Lending Growth Close to Freezing Point
The increase in deposits also decelerates. The annual rate of growth of money supply (measured by means of the M3 aggregate) slowed down in October to 8.6% (it was 8.8% in the previous two months), Raiffeisen Research says.
December 14, 2012
Polish Government Considers Joining Banking Union
Today, Poland´s Prime Minister Donald Tusk explained that Poland may become a member in the single supervision mechanism.
December 14, 2012
EU Guarantees Stability of Czech Banking Sector
The Czech Republic will not use its right to veto. In return, the EU guarantees the stability of the Czech financial sector.
December 14, 2012
Hypo Group Refuses to Repay Loans to BayernLB
Today, the management board and the shareholders of the Austrian nationalized bank resolved to stop payments to the former owner BayernLB. BayernLB files a lawsuit against Hypo Group.
December 13, 2012
Banking Supervision to Control Nine Austrian Banks
Austria´s Finance Minister Maria Fekter announces that nine Austrian banking groups will be supervised by the new banking supervision authority.
December 13, 2012
CEE Countries May Join Banking Union
ECB will become the main supervisor for the Eurozone´s banking industry. Non-Eurozone member countries are entitled to opt-in.
December 13, 2012
Austrian Banking Package: Losses total € 1.9bn
According to Austria´s Financial State Secretary Andreas Schieder, preliminary losses of the banking package come at € 1.9bn. Further losses are expected.
December 13, 2012
Czech Finance Minister: „No Reason to Veto Banking Union“
The Czech Minister of Finance Miroslav Kalousek announced that the Czech Republic has no concerns against the banking union in the Eurozone.
December 12, 2012
Bank Austria: Major Losses in Kazakhstan
In 2007, Bank Austria took over the Kazakh ATF Bank. In total, the banking group is threatened to record losses of up to € 1.8bn. Now, Bank Austria is said to leave Kazakhstan.
December 11, 2012
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