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Banking Industry
Bawag Buys Back Hybrid Capital
The U.S. owned Austrian bank purchases € 300m in hybrid capital back in order to strengthen the equity base.
March 9, 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
RBI Optimizes Its Structure of Participations
EBA decides not to recognize privately placed participation capital. RZB Group will nevertheless meet the EBA target, the bank argues.
March 8, 2012
EBA Does Not Accept Participation Capital as Equity
Austrian banks face new difficulties. The European Banking Authorities does not approve participation capital by the Austrian state as Tier-1 Equity Capital.
March 8, 2012
Bank Insolvency Act to be Finished by Summer 2012
According to the government´s plans, the Austrian financial market authority (FMA) should obtain more competences.
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
Banks May Face Strikes
The trade union of bank employees calls for a 4.9% salary increase. Employers reject this claim.
March 6, 2012
Uniqa: Changes in Supervisory Board
RZB´s supervisory board chairman Christan Konrad will leave Uniqa. RZB´s CeO Walter Rothensteiner succeeds Konrad.
March 6, 2012
Erste Group Has € 150m Gain Through Hybrid Buyback
Erste Group Bank AG, Eastern Europe’s second-biggest lender, said it has agreed to buy back € 828.3m ($ 1.1bn) of hybrid securities to boost net income and capital.
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
VBAG´s Executive Board Asked to Resign
Parts of the Volksbanken sector, which hold stakes in VBAG, offer resistance to the management board.
March 3, 2012
VBAG to be Acquired by BAWAG?
According to market rumors, the financially stricken VBAG could be taken over by the U.S. investment fund owned Bawag.
March 2, 2012
Nowotny: „Austrian Banking Activities in CEE Better than their Reputation”
According to the governor of the Austrian Central Bank (OeNB), Ewald Nowotny, Austrian banks engaged in Central and Eastern Europe are more stable than they are supposed to be.
March 1, 2012
Banking Industry As „Cash Cow“?
For RZB´s CEO Rothensteiner, the increase in bank tax is “not fair”. The government plans to raise bank taxes by 25%.
February 29, 2012
Erste Group Returns to Profitability
In 2011, Erste Group registered losses of € 718.9m, which is less than initially expected. The fourth quarter was in the profit zone again.
February 29, 2012
„Banks are the Real Austrian Problem“
The Austrian opposition criticizes the rescue of VBAG by the government massively. Further bank aids are feared.
February 28, 2012
High Losses for Erste Group Expected
Although Erste Group has to report high losses for its financial year 2011, analysts are optimistic for 2012. Business in Romania and Hungary is expected to improve.
February 28, 2012
Nationalization of VBAG: Austrian State Holds 49%
After Kommunalkredit and Hypo Group, VBAG becomes the third Austrian bank which is publicly owned.
February 28, 2012
Tyrol Equity Takes over Rim Producer BBS
The Austrian industrial hold, owned by Raiffeisen, Hypo Tyrol and Swarovski, acquired the insolvent German rim producer BBS.
February 27, 2012
Pessimism in Austrian Banking Industry
26% of interviewed managers in the Austrian banking industry regard the development of the operating business as “very bad”.
February 27, 2012
Hungary is Optimistic to Reach Agreement with IMF
The Hungarian ambassador in Vienna, Vince Szalay-Bobrovniczky is convinced to solve the current financial crisis soon. Hungary aims for re-gaining trust of investors.
February 25, 2012
Austria Discussing Top Banks’ Capital Rules With EU Commission
Austria’s regulators are discussing rules for its top banks that will curb excessive lending in Central and Eastern Europe with the European Commission.
February 25, 2012
Raiffeisen Aims to Purchase Securities
In order to strengthen the capital structure, Austrian Raiffeisen Bank International wants to retain perpetual non-cumulative securities.
February 23, 2012
RBI Posts Profit of € 1.4bn in 2011
Profit before tax rises by 6.7 per cent compared with 2010 to € 1,373m. Core Tier 1 Ratio amounts to 9.3 per cent (before dividend).
February 23, 2012
Austria Will Not Get „AAA“ Back in Near Future
The economist at the German Deka bank, Ulrich Kater, does not think that Austria will be upgraded within the next years.
February 22, 2012
Erste Group Manages Issue of Czech Republic € 2.0bn Bond
The Austrian bank observed good demand for the Czech sovereign bonds offering: total orders of approx. € 3.5bn from over 190 investors.
February 22, 2012
Moody's Takes Actions on Austrian Banks
The U.S. rating agency has a closer look on Austrian banks, which are related to the creditworthiness of public institutions.
February 22, 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
Erste Group Acts as Bookrunner for Miba
The majority of € 75m bond was placed with retail investors in Austria. The offering was 3.5 times over-subscribed.
February 21, 2012
Erste Group: Profitable Hybrid Buyback
Erste Group expected to book pre-tax gain of up to € 300m on hybrid buyback.
February 20, 2012
Stepic Criticizes Rating Agencies Sharply
For Herbert Stepic, CEO of Raiffeisen Bank International (RBI), statements given by the U.S. rating agencies are “undifferentiated”.
February 20, 2012
Sberbank Upgrades VBI´s Headquarter in Vienna
After the acquisition of the Austrian VBI, the Russian bank wants to expand massively in Europe.
February 20, 2012
German Justice Puts Pressure on Former Hypo Group Executives
In order to get damage compensation, the German justice opens legal proceedings against the former CEO´s of Austrian Hypo Group, Tilo Berlin and Wolfgang Kulterer.
February 18, 2012
VBAG´s CEO: „Bank Aid Only Last Exit“
Gerald Wenzel, chairman of VBAG´s executive board, continues the downsizing strategy. A new bank aid would be the “ultima ratio”.
February 17, 2012
Erste Group to Strenghten its Capital Structure
The Austrian banking group offers to buy back Tier1 and Tier2 securities .
February 17, 2012
Siegfried Wolf Enters Sberbank
The Austrian national and executive at Magna in Russia becomes President of VBI´s supervisory board.
February 16, 2012
Cernko: „Triple A Only in the Medium Term“
Bank Austria´s CEO Willibald Cernko does not think that Austria re-gains its “AAA” status within the next three years.
February 16, 2012
VBI Sale to Sberbank Finalized
With the sale of the CEE segment of the Austrian VBAG, Russian Sberbank enters Eastern Europe.
February 15, 2012
Moody's Put Austria on Warning
The Austrian “AAA” rating has been confirmed by the U.S. rating agency. However, credit-watch is put on “negative”.
February 14, 2012
State Aid: VBAG Redeems € 1.0bn
The Austrian VBAG repays a third of the state aid granted in 2009.
February 13, 2012
Substantial Growth for ING DiBa
The Dutch Bank Group achieved a 12% growth in customers in Austria. Deposits were up by 9.5%.
February 13, 2012
Bank Austria Writes Off Greek Bonds
The Austrian subsidiary of the Italian UniCredit Group has to write off Greek sovereign bonds by € 100m.
February 13, 2012
Austrian Central Bank Lets Eligibility Criteria Ease
OeNB: ECB governing council endorses expansion of eligibility criteria for nonmarketable assets.
February 10, 2012
Raiffeisen Builds Shopping Center in Bukarest
Raiffeisen Evolution develops “Floreasca City”, a shopping center project in the Romanian capital. Construction works began in January.
February 10, 2012
BTV: Moderate Increase in Profits
The Austrian regional bank for Tyrol and Vorarlberg reached growth in profits, total assets and lending.
February 10, 2012
Kommunalkredit: More Costly than Hypo Group
The Austrian state had to made expenses of € 4.65bn for the nationalized Kommunalkredit. In total, the bank package´s volume reaches € 11bn.
February 9, 2012
Erste Group Plans Complete Takeover of BCR
The Austrian bank wants to become the sole owner of Banca Commerciala Romana.
February 9, 2012
RBI: „Capital Increase is Pure Speculation“
The Austrian Raiffeisen Bank International, which is said to plan a capital increase, points out that this information is a “pure rumor”.
February 9, 2012
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