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Banking Industry
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
Poland: Lending Criteria to Tighten
According to the Polish National Bank (NBP), banks will tighten lending conditions further. NBP wants to support economic growth, but has to prevent a credit bubble.
November 6, 2012
Hypo Group Starts Selling Business in SEE
The nationalized Austrian banking group has to downsize drastically. Today, Hypo Group started to put the subsidiaries in Southeastern Europe for sale.
November 6, 2012
Fitch Raises Turkey´s Rating
According to the U.S. rating agency, the Turkish economy performs well and became stable.
November 5, 2012
Hungary: New Threats for Banks
The Hungarian government plans to take over debts from small municipalities. Banks fear that the Hungarian state demands a debt relief.
November 5, 2012
Hybrid Bond for Hypo Group
In order to cover the capital shortfall of Hypo Group, the Austrian state may inject € 500m into the nationalized bank. Furthermore, the bank plans to issue bonds worth € 1.0bn.
November 3, 2012
Moody´s Downgrades Austrian VBAG
The U.S. rating agency underlines that the Austrian state will help the financially stricken bank further.
November 3, 2012
Austria: Lending Continues to Contract
Austrian banks tend to remain rather cautious. The restrictions of company loans sharpen.
October 31, 2012
Erste Group Surprises With High Net Income
The Austrian bank posts a net profit of € 597.3m and stable operating result in the first nine months of 2012.
October 30, 2012
Erste Group´s Earnings Expected to Increase
The Austrian banking group will present its figures for the third quarter tomorrow. Net income is forecasted to improve.
October 29, 2012
Nowotny: Greek Haircut for ECB “No Issue”
The governor of Austria´s National Bank (OeNB) Ewald Nowotny thinks that ECB would not participate in a haircut.
October 29, 2012
Saving in CEE Becomes More Important
Poles and Slovaks are CEE's savings champions, putting aside 15% resp. 12% of their monthly income. Austrians, Germans and Czechs follow suit with 9%.
October 29, 2012
„Strengthening Relation with Russia“
Christoph Leitl, President of the Austrian Chamber of Commerce (WKO) argues that Europe must co-operate closer with Russia in order to manage the crisis.
October 25, 2012
Foreign Banks Withdraw Funds from Croatia
Due to the difficult economic situation in Croatia, foreign banks reduce their exposure in Croatia.
October 24, 2012
Jürgen Kullnigg Becomes the New Chief Risk Officer of Bank Austria
Jürgen Kullnigg will join the Management Board of Bank Austria to succeed Massimiliano Fossati, who will move to UniCredit in Milan to become Chief Risk Officer Italy
October 24, 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
Czech Banking Sector to Sharpen Lending Conditions
For corporate and housing loans, lending conditions were tightened in the third quarter of 2012.
October 23, 2012
FMA: „Austria is Open to Blackmail by Banks”
Kurt Pribil, director of the Austrian Financial Market Authority, thinks that the nationalization of banks has shown that the Austrian state is still under pressure.
October 23, 2012
Bawag: Hungarian Exposure Shrinks
The Austrian bank gradually withdraws from Hungary. The stake in MKB Bank becomes smaller.
October 23, 2012
Austrian Banking Industry to Downsize Radically
According to Bank Austria´s CEO Willibald Cernko, the Austrian banking industry must cut its number of branches radically.
October 23, 2012
Tusk: Joining Banking Union Only if it Does not Weaken Poland
The Polish Prime Minister does not exclude to enter the banking union. However, this measure must not weaken Poland´s position.
October 22, 2012
Banking Package: Austria to Lose Billions
Hannes Androsch, member of the publicly owned bank holding company Fimbag, fears that Austria´s losses will be substantial.
October 22, 2012
Poland Favors Banking Union, Czech Republic is Skeptical
The governor of the Polish National Bank Marek Belka calls for joining the banking union. The Czech Republic may use the right to give a veto.
October 20, 2012
Hungary Does not Exclude to Increase Bank Tax
Prime Minister Orban refers to the pressure coming from Brussels. Hungary must reduce the budget deficit below 3.0% of GDP.
October 20, 2012
Bawag Gets New Owner
In return for a capital increase of € 200m, the U.S. investment fund Cerberus cedes a 33% stake in the Austrian bank.
October 19, 2012
Fekter Interested in Hungary´s Bank Taxation Plans
The Austrian Minister of Finance wants to analyse the taxation plans of the Hungarian government thoroughly. The bank taxes would be “highly interesting”, Fekter says.
October 19, 2012
RBI: We Will Not Leave Hungary
Herbert Stepic, CEO of Austrian RBI (Raiffeisen Bank International) is highly dissatisfied with Hungary´s decision not to reduce bank taxes. However, RBI will stay, he says.
October 18, 2012 · Updated: October 18, 2012; 17:08
Hungarian Tax Plans: Austrian Banks Annoyed
Because of the pressing need to reduce the budget deficit, Hungary´s government decided not to lower the bank tax. Moreover, the financial transaction tax will be doubled.
October 18, 2012
Debt Crisis Weighing Down on Euro Zone more than on US
According to Austrian Erste Group Research, the economic development in the Eurozone remains subdued.
October 17, 2012
RBI Cuts Slovenian Subsidiary Radically
The Austrian Raiffeisen Bank International plans to lay off the half of its workforce in Slovania.
October 16, 2012
Austrian Budget: Experts Call for Further Reforms (Part 3)
Economists think that the budget does not contain enough reform steps. The opposition does not see any signs of progress.
October 16, 2012
Austrian Audit Court Criticizes Nationalization of Kommunalkredit
According to the Austrian Audit Court, the former owner of Kommunalkredit VBAG would have survived without the nationalization.
October 15, 2012
Czech Banking Association Pessimistic
CBA has lowred its forecast on the Czech economy. The decreasing household consumption would be the main reason.
October 12, 2012
S&P: Eastern Subsidiaries of Austrian Banks Most Become More Independent
The U.S. rating agency criticizes that Austrian banks are still weakly capitalized. The economic crisis caused a massive withdrawal of funds in Eastern Europe, S&P says.
October 11, 2012
Alpine Needs Help from Banks
The Austrian construction company faces liquidity constraints. Talks with banks were started already.
October 11, 2012
Austrians save € 170 per month
For 82% of Austrians the savings passbook accounts are the top choice, but their appeal is gradually waning. Satisfaction with one’s savings performance is growing
October 11, 2012
Grawe Bids for Zavarovalnica Maribor
The Austrian insurance group wants to take over the Slovenian insurer Zavarovalnica Maribor (ZM). ZM´s management prefers Slovenian bidders.
October 10, 2012
Austrian Banking Industry: Slight Increase in Operating Profits
In the first half year of 2012, special effects caused an increase in net income. The net interest results were down, however.
October 10, 2012
Financial Transaction Tax to be Introduced
Now, the financial transaction tax has enough supporters. After months of negotiations, eleven EU member countries finally agreed on introducing a financial transaction tax.
October 9, 2012
Hypo Group: Difficult Negotiations with Austrian State
The nationalized banking group urgently needs a capital injection. This year, the capital shortfall will be reduced by € 1.5bn.
October 9, 2012
Slovenia: Second-Largest Insurance Group to be Sold
The Austrian Uniqa Group and Grazer Wechselseitige Versicherung (Grawe) are interested in Zavarovalnica Maribor (ZM):
October 8, 2012
Erste Group to Sell Ukrainian Subsidiary
This year, the Austrian bank plans to sell its Ukrainian business segment. Erste Group entered the Ukraine in 2006.
October 8, 2012
Slovenia to Sharpen Austerity Measures
The Slovenian centre-right government announces new austerity cuts. The budget deficit should be lowered to 3.0% of GDP.
October 5, 2012
Fekter Appeals on Banks to Prevent Credit Crunch
Banks should be more creative in financing the real economy instead of creating new financial products, she says.
October 5, 2012
Fekter Rejects Deposit Protection in EU
At the Alpbach Financial Symposium, Austria´s Minister of Finance Maria Fekter underlined to reject the European deposit protection.
October 4, 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
Erste Group Achieves 9.9% Capital Ratio
Erste Group comfortably meets the EBA capital requirement:capital ratio reached 9.9% as of June 2012 (excluding retained earnings).
October 4, 2012
RZB Group Exceeds EBA Capital requirements
EBA Core Tier 1 capital ratio of 10.0 per cent (excluding retained earnings) as of 30 June 2012. The Bank is thus one percentage point above the requirement
October 3, 2012
Austrian Banks Meet Substantially Increased Capital Requirements
EBA exercise to strengthen capital positions of large European banks concluded: Erste Group Bank AG and Raiffeisen Zentralbank AG meet the increased Capital Requirements, Austrian National Bank announces.
October 3, 2012
IMF Puts Pressure on Slovenia
Slovenia is urged to implement quick reforms. Otherwise the country may have to be bailed out by the safety net.
October 3, 2012
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