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Poland: Raiffeisen Polbank Increases Net Profit
Net profits for Raiffeisen Polbank, the Polish branch of the Austrian lender, achieved a considerable increase in net profits.
March 31, 2014
Austria: VBAG Downgraded to Junk Status
Moody´s has lowered VBAG´s rating. According to the rating agency, the partly nationalized Austrian bank has no investment grade anymore.
March 29, 2014
KA Finanz: No More State Aids Necessary
The nationalized Austrian bad bank has finished the loss-making sale of credit default swaps. In the last six years, KA Finanz has downsized radically.
March 29, 2014
Hypo Group: “The People are Really Pissed Off“
According to Werner Kogler, financial spokesman and deputy party leader of the Austrian Greens, the Hypo commission appointed by the government is an “intolerable escape attempt”.
March 28, 2014
Austria: Industrial Production Loses Momentum
Austrian industry loses some momentum after strong growth at the start of the year.
March 28, 2014
Poland: Interests on Bank Deposits to Remain Low
Interest rates will only be raised at the end of 2014.
March 28, 2014
Hypo Petition Puts Pressure on Austrian Government
The support of the online petition for the establishing of an investigation committee has gained more than 105,000 supporters which puts increasing pressure on the government.
March 28, 2014
Austria: Moody’s Confirms Rating and Outlook for Carinthia
US rating agency rewards the government’s solution about Hypo Group with a confirmation of the creditworthiness of the province of Carinthia.
March 28, 2014
Austria: S&P Confirms Rating
US rating agency Standard & Poor’s has confirmed the Austrian rating at “AA+” with a stable outlook.
March 28, 2014
RBI to Keep Hungarian and Ukrainian Affiliates?
Raiffeisen Bank International (RBI) considers keeping its affiliates in Hungary and Ukraine.
March 27, 2014
Austria: Economic Growth Slowly Getting in Gear
Wifo (Austrian Institute of Economic Research) projects economic growth in Austria to revive again only at the end of this year.
March 27, 2014
Austria: Hypo Commission Soon Ready to Investigate
The government’s commission for the investigation of Hypo Group’s nationalization is supposed to begin its assignment in one or two weeks.
March 27, 2014
RBI: Profit Shrinks by Almost A Quarter
RBI with consolidated profit of € 557 million Austria’s most profitable bank for the fourth time.
March 27, 2014
Raiffeisen Group: Uncertain Future
On Thursday Raiffeisen Bank International (RBI) will present the annual figures of 2013.
March 26, 2014
Poland: Good Starting Point for Economic Growth
Economic growth for 2014 is expected to accelerate to 3.1 percent to 3.2 percent in the first quarter while for the full year it is anticipated to come at 3.5 percent, according to Polish Economy Minister Janusz Piechocinski.
March 26, 2014
BayernLB Threatens Hypo Group with Damage Claims
BayernLB, former parent company of Hypo Group Alpe Adria International, is threatening to claim damages from its former affiliate.
March 26, 2014
Hungary: 20th Consecutive Interest Rate Cut
The Hungarian central bank has cut the key interest rate by 10 basis points to 2.6 percent.
March 26, 2014
Austria: High Support for Hypo Group’s Investigation Petition
According to a decision in the petition committee, the online petition for the investigation of the nationlization of ailing Hypo Group Alpe Adria will be open for signing until the next committee meeting in June.
March 26, 2014
Poland: Economy Proves Immune to Ukrainian Crisis
According to Governor of the Polish National Bank (NBP) Marek Belka, the Polish economy has so far proved stable and almost remained unaffected by the political crisis in Ukraine.
March 26, 2014
Hungary: Orban Striving to Become PM Again
In an attempt to gain another four years as head of the government Hungarian Prime Minister Viktor Orban praises the country’s achievements in the past years since his Fidesz party came into power.
March 26, 2014
Poland: Promising Years Ahead
Poland observes the crisis in Ukraine with great concern, but does not forget to upgrade national resources.
March 25, 2014
Austria: Unemployment Rate to Remain at Record High
The Austrian unemployment rate is expected to remain at a record high even in 2015.
March 25, 2014
World Bank: Serbia Has Nine Month to Implement Reforms
According to Tony Verheijen, the World Bank’s Country Manager of Serbia, Serbia has nine month to implement the reforms necessary.
March 25, 2014
Poland: Number of Real Estate Loans Drops
The portfolio of real estate loans of Polish households declined in February, according to a report by the National Bank of Poland (NBP).
March 25, 2014
Spindelegger: Investigation Committee “Counterproductive“
According to the Finance Minister, an investigation committee would only worsen the negotiation position with BayernLB.
March 25, 2014
Hypo Group: Spindelegger Still Rejects Investigation Committee
Today the opposition will call for a joint request for a parliamentary investigation committee with regard to ailing bank Hypo Group.
March 25, 2014
Austria: Hypo Petition to be Continued
The online petition for the establishing of a parliamentary investigation committee will not be stopped by the Austrian government, consisting of SPÖ (Social Democrats) and ÖVP (Austrian People’s Party).
March 24, 2014
Poland: PKO BP Considers Expanding Worldwide
The biggest lender in Poland PKO BP is weighing up international expansion
March 24, 2014
Moody´s Downgrades Bank Austria
The U.S. rating agency Moody´s takes a closer look at European banks. Due to the worsening asset quality of Bank Austria´s parent company UniCredit, Bank Austria´s rating was cut to “Baa2”.
March 22, 2014
Austria: Petition Around Hypo Group to be Stopped
The stop of the online petition for a parliamentary investigation committee seems to be unavoidable. The opposition claims the government is trying to “choke off” democracy.
March 21, 2014
Hypo Group: € 1.43bn Required This Year
A total capital need of € 1.43bn is forecast by the ailing bank.
March 21, 2014
Hypo Group: More than One Billion Required?
As reported by Austrian radio station Ö1, part of the Austrian Broadcasting Corporation ORF, ailing Hypo Group Alpe Adria will require € 1.1bn this year from the state.
March 21, 2014
Final Time-Out for Austrian Bank Secret
During the EU Summit the final time-out for the Austrian bank secret for foreigners was decided. Both Austria and Luxembourg agreed to give up their banking secrets.
March 21, 2014
Hypo Group: “Acutely Gaping Capital Hole“
In a compulsory notification published on Friday morning, Hypo Group Alpe Adria has reported about an “acutely gaping capital hole” which has to be covered by the Austrian Federation.
March 21, 2014
Austria: Still No Disclosure about Hypo’s Capital Gap
Detailed figures about how much the Austrian state will have to inject for the balance sheet total of 2013 will be published on Friday at the earliest.
March 21, 2014
Austria: Reform Steps Very Modest
Austria, along with Germany and Switzerland, hardly put any economic reforms into realization. This is the conclusion of the annual “reform barometer” for the three countries.
March 20, 2014
Sanctions Against Russia: Massive Threat for Austrian Banks
Brussels plans to impose economic sanctions on Russia. The Austrian financial sector would suffer enormously an escalating conflict with Moscow.
March 19, 2014
Hypo Group Expected to Publish Figures This Week
On Thursday the Austrian taxpayers are supposed to officially get to know the financial requirements for nationalized problem bank Hypo Group Alpe Adria.
March 19, 2014
Austria: Freedom Party Admits Complicity
The Austrian Freedom Party (FPÖ) admits that it was also to blame for the disaster around Hypo Group Alpe Adria.
March 19, 2014
Low Inflation Still No Threat to CEE
Currencies in CEE should not be affected by low inflation, according to Erste Group.
March 19, 2014
Poland: Key Rates to Remain Unchanged until 2015
In an interview with Bloomberg Businessweek magazine, Marek Belka, Governor of the National Bank of Poland (NBP), announced that interest rates will remain unchanced until the end of this year.
March 18, 2014
Hungary: Jurisdiction Affects FX Loans and Banks
Hungary’s constitutional court will exert influence on FX loans.
March 18, 2014
Slovenia: SID Bank With Declining Profits
The public export and development bank of Slovenia, SID, sees shrinking profits.
March 18, 2014
BayernLB: “We Were Brazenly Betrayed by Austria"
CEO of BayernLB Gerd Häusler claims the German bank and former parent company of nationalized Hypo Group Alpe Adria accuses Austria of having taken the law into its own hands.
March 18, 2014
VBAG: Romanian Affiliate Sells Bad Loan Portfolio
The ailing affiliate of Austrian partly nationalized VBAG will sell its non-performing loans on a large scale.
March 18, 2014
Poland: PKO BP Cuts Down on Business in Ukraine
The Polish top lender PKO BP’s Ukrainian affiliate Kredobank closed four of its six branches in Crimea in the past two weeks.
March 18, 2014
Hypo Group: Government Explains Downsizing Solution
On Tuesday the Austrian government will explain the decided downsizing solution for the ailing bank Hypo Group Alpe Adria. Carinthia only wants to pay € 300m in downsizing costs.
March 18, 2014
Hypo Group Redeems Loan
Even though the Austrian nationalized Hypo Group urgently needs state aids to get by bondholders will be compensated for their investments.
March 17, 2014
Austria: Carinthia Forced to Pay for Hypo Group
Finance Minister Michael Spindelegger announced wanting to include the federal province of Carinthia to participate in the downsizing costs for ailing bank Hypo Group Alpe Adria. Austerity measures are “inevitable”.
March 17, 2014
Belka: Poland Should Not Haste into Eurozone
Marek Belka, Governor of the National Bank of Poland (NBP), said that the country did not have to haste to become a member of the European single currency union.
March 17, 2014