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Erste Group Reduces Bondholdings
The Austrian major bank is said to plan sale of covered bonds.
January 31, 2012
Austrians Reduce Savings
At present, Austrians are planning to save € 5,460 (-4.5%). Around 10% of the population plans to finance their purchases by taking out loans and will borrow an average of € 68,800 (-16%).
January 31, 2012
New Management Board Member at RBI
Raiffeisen Bank International: Klemens Breuer starts in mid-April. Patrick Butler chooses to resign his mandate.
January 30, 2012
Hypo Group´s Result „Close to Zero“
CEO Gottwald Kranebitter announced that Hypo Group Alpe Adria could reduce its losses significantly in 2011.
January 30, 2012
VKB Records Rise in Results
The regional bank VKB´s operating result improved by 9.0%.
January 28, 2012
Romanian President Appreciates Erste Group´s Decision
Traian Basescu, President of Romania, is pleased with Erste Group´s announcement to continue its business in Romania.
January 28, 2012
Stepic: „Reaching AAA Again Is Possible“
RBI´s CEO Herbert Stepic thinks that due to the strength of Austria´s real economy, re-gaining the triple A is possible within the next years.
January 28, 2012
New Management Board at BCR
The Supervisory Board of Erste Group´s loss-making subsidiary, Banca Comerciala Romana (BCR), took several decisions regarding the structure of BCR’s Management Board (Executive Committee).
January 27, 2012
Sberbank: € 500m for Austrian VBI
The Russian Sberbank officially bids € 500m for VBI, the subsidiary of Austrian VBAG.
January 26, 2012
RBI´s CEO Expects € 60m Losses in Hungary
Herbert Stepic, CEO of Austrian Raiffeisen Bank International, emphasizes to stay in Hungary. The foreign currency debt conversion causes severe losses.
January 26, 2012
S&P Keeps Rating for Erste Group and RZB
After the downgrade of Austrian sovereign bonds two weeks ago, the U.S. rating agency remains its ratings for the two largest domestic banks.
January 25, 2012
Treichl: „S&P Errs Sometimes“
Erste Bank is ‘not guilty’ of Austria’s downgrade, CEO Andreas Treichl says.
January 25, 2012
Erste Group: “Debt Crisis Continues”
According to the Austrian bank, the sovereign debt crisis in the euro-zone remains. Stagnation is expected for the next years.
January 25, 2012
Scharinger: „Rating Agencies Are Instruments of Torture“
The leaving CEO of RLB Upper Austria, Ludwig Scharinger, is convinced that Europe needs must make itself more competitive against the U.S. financial industry.
January 24, 2012
Central Bank Act: Orban Gives In
Hungary waives the planned merger of the Central Bank and the Financial Market Authority. Yesterday, Austria´s Minister of Foreign Affairs visited Orban in Budapest.
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
Austrian Banks Hold € 18bn in Foreign Sovereign Bonds
At the end of October 2011, the exposure of Austrian banks in foreign sovereign bonds was € 18.1bn. The largest volumes are invested in Poland and Italy.
January 19, 2012
Austrian Lending Restrictions Under Observation
The plan of the Austrian FMA and OeNB to restrict lending in CEE countries could be a violation of EU-law.
January 19, 2012
Treichl: „Erste Could Bear Hair Cut in Hungary“
Andreas Treichl, Erste Group´s CEO, is optimistic for Hungary. A withdrawal of Erste Group is not considered.
January 18, 2012
Austrian Banks Claim to Continue „Vienna Initiative“
In 2009, international banks agreed on maintaining their lending operations in Eastern Europe. Now, the cooperation should be extended.
January 18, 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
Erste Group Provides Major Loan to Telekom Serbia
The Austrian bank commits € 140m to Telekom Serbia as part of a recent syndicated loan taken by the company. Erste Group acted as joint mandated lead arranger, underwriter and bookrunner.
January 18, 2012
Oberbank Satisfied with 2011 Results
The Austrian Oberbank achieved “excellent“ results last year, CEO Gasselsberger stated. Profits were up by 5.5%.
January 17, 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
Treichl Does Not Expect Hungarian National Insolvency
In spite of a large exposure in Hungary, Andreas Treichl, Erste Group´s CEO is optimistic. By 2014, Erste Group Hungary should be profitable again.
January 14, 2012
Exit in Hungary Would be Expensive
In case of leaving the Hungarian market, Austrian banks would face enormous costs, says Citigroup.
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
Pressure on Hungary Increases
The chairman of the Austrian Central Bank, Ewald Nowotny, sees no danger for Austrian banks from Hungary. EU and IMF criticize the Hungarian government.
January 11, 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
„Not Talking Down Austerity Policy“
Bernhard Felderer, head of the Austrian Institute of Advanced Studies (IHS), warns daily issued ideas for new taxes. First signs of a recovery are arising.
January 7, 2012
Austrian Banks Have $ 41.0bn Exposure in Hungary
After another downgrade, a national bankruptcy of Hungary is not excluded anymore. Consequences for Austrian banks would not be foreseeable.
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
Hypo Group Sells Insurance Segment
The nationalized Austrian Hypo Group Alpe Adria sold its insurance subsidiary, Hypo Alpe Adria Insurance Services (HIS).
January 2, 2012
Austrian Enterprises Fear Nationalization in Hungary
Nationalization plans induce fierce criticism against the Hungarian Government. The Austrian waste management industry would be hit hard.
January 2, 2012
Hypo Alpe Adria Gets More Time to Build Up Capital
The Carinthian nationalized bank has to raise its own funds ratio to 12%. The Financial Market Authority granted a deadline extension of nine months.
December 30, 2011
Erste Group Increased Share Capital
The Austrian bank raised its capital in connection with the agreement to acquire shares in Romanian BCR.
December 30, 2011
RZB Issued Participation Capital
The Austrian banking group optimizes its structure by acquiring shareholdings in the Czech Republic and Slovakia.
December 30, 2011
RBI Rules Out Sale of Eastern European Subsidiaries
CEO Herbert Stepic expects a very difficult year 2012 for the entire banking industry.
December 29, 2011
VBAG: Sale of VBI to Be Closed in 2012
Contrary to the original schedule, the sale of the eastern European bank will not be closed by the end of the year.
December 29, 2011
Industry Wants to Suspend Banking Tax
The new capital requirements for banks are criticized by the Federation of Austrian Industries and the research institute WIFO.
December 29, 2011
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
Critics for FMA and Central Bank
Michael Ikrath, general secretary from Austrian Sparkassen, criticizes the Financial Market Authority and the Central Bank for equity requirements imposed on domestic banks.
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
Erste Group: Core Shareholder Endangered to Reduce Stake
Erste Group´s main stockholder, the Erste Stiftung, needs 2012 dividend to avoid stake sale.
December 28, 2011
Hypo Tirol: Cut in Lending Prevented
Without the capital increase by the province of Tyrol, the bank would have been forced to cut its lending activities drastically.
December 27, 2011
Erste Group: Capital Shortfall to be Covered by Profits
The new equity requirements will be fulfilled, Erste Group´s CEO Treichl says. The capital shortfall amounts to € 743m.
December 27, 2011
Capital Increase for Raiffeisen Hungary
In light of massive loss expectations the Hungarian subsidiary will reduce its headcount and close down several branches.
December 23, 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
OeNB Sees No Signs for Credit Crunch
The Austrian Central Bank reports a stable development of new lending. The volume of new corporate and private loans is growing at 2% each.
December 21, 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
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