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Banking Industry

VBI: Romania Remains a Weak Point

The foreign holding of the Austrian Volksbanken group has to cope with credit risk provisions for € 160m from its Romanian subsidiary.

March 16, 2011

Bank Employees’ Salaries Increase at an Average of 2.3%

The union is satisfied with the salary increase of collective agreements for bank employees.

March 15, 2011

RLB Upper Austria Intends to Grow in Russia

The regional bank Raiffeisenlandesbank Upper Austria (RLB) purchased a 2.95% share in the South Russian Krayinvestbank in Krasnodar.

March 14, 2011

Upward Trend for Erste Group and Raiffeisen

The two Austrian players rise slightly in the ranking of the world's biggest banks. Erste Group is among the top 100.

March 12, 2011

Banks: No Agreement on Salary Negotiations

No agreement has been reached either in the fourth round of collective negotiations for bank employees. The situation is worsening.

March 9, 2011

Austrian Clearingbank Concludes Activities

The activities of the Oesterreichische Clearingbank, founded in 2008 to handle liquidity shortages at commercial banks end presently.

March 5, 2011

Increasing Profits for BKS

The Carinthian/Styrian regional bank could increase net earnings after taxes by 14.8%.

March 4, 2011

Profit Record for Erste Group

Austrian Erste Group increases 2010 net profit by 12.4% to € 1,015.4 m on strong operating result and lower risk costs.

February 26, 2011

Erste Group: Strong Increase in Lending

The Austrian Erste Group granted € 7.8bn loans in 2010 and expects demand for credit to rise in 2011 and 2012.

February 25, 2011

Tightening of Credit Policy Expected

The new Basel III rules will result in a tightening in lending, especially for small and medium-sized enterprises.

February 25, 2011

Saving in Austria Still Popular

Erste Bank’s forecast on savings and credit trends: Austrians plan to set aside approximately € 5,460 in 2011.

February 22, 2011

Record for Austrian Savings & Loan Associations

Savings & loan associations exceeded the one million mark for the second time in 2010. Cash disbursements amounted to € 3.1bn.

February 19, 2011

Hypo Group: Losses up to € 1.3bn

The emergency-nationalized Hypo Group is deep in the red zone as the result of high provisions and value adjustments.

February 19, 2011

Erste Group manages € 1.25bn increase of Slovak Bonds

Strong interest for the Slovak sovereign bonds offering: total orders amounted to € 1.9bn from over 100 investors.

February 19, 2011

Bizarre Allegations of Meinl against Atrium

The ongoing conflict between the Austrian bank and the US-Israeli real estate fund shows new and unusual facets.

February 16, 2011

Erste Bank Hungary CEO to resign

Edit Papp, the CEO of Erste Bank Hungary, has decided to pursue other professional opportunities and therefore announced her resignation.

February 16, 2011

Accusations against Hypo Group in Slovenia

The Austrian bank is under investigation because of suspicious real estate and financial transactions.

February 15, 2011

Stepic: Austria is Destroying its Business Location

The CEO of Raiffeisen International Bank (RBI), Herbert Stepic, considers the domestic business location to be in grave danger.

February 12, 2011

Hypo Group Changes Leadership in Slovenia

Both the Slovenian subsidiary bank and the leasing company will receive a new leadership for "restructuring reasons".

February 10, 2011

RBI Faces an Increase in Equity

The Austrian Raiffeisen Bank International will strengthen its equity, announces Attorney General Konrad.

February 8, 2011

National Bank Warns against Foreign Currency Loans

According to the governor of the Österreichischen Nationalbank (OeNB, Austrian National Bank), Ewald Nowotny, the sum of pending foreign currency loans in Austria is € 54bn.

February 3, 2011

Austria's Credit Industry Appeals to the Constitutional Court

The price gains tax introduced as of January 1, 2011 encounters legal resistance. The Banking Division of the Chamber of Commerce announced a complaint of unconstitutionality.

February 2, 2011

Hypo Upper Austria Reports stable Profits

According to the management, the regional bank could exceed its own expectations. Annual profit was € 27m.

February 1, 2011

Atrium: "Meinl Exploited its Position as a Trustee”

After the repayment of the convertible bond to the Austrian Meinl Bank, the real estate funds considers the calling as "blatant unlawfulness."

February 1, 2011

Member of the Board of the Stock Exchange to be Scharinger's Successor?

Heinrich Schaller, Member of the Board of the Vienna Stock Exchange is considered as favorite to succeed the longtime CEO of Raiffeisen Landesbank OÖ.

February 1, 2011

CA Immo: „Bid of UniCredit too low“

UniCredit intends to increase its stake on the Austrian CA Immo up to 29%. The board regards the bid of € 12.35 per share as being “too low”.

January 30, 2011

Hypo Group: Non-Performing Loans for € 8.5bn

The Hypo Group nationalized by the Austrian government is still deep in the red. The bank will be profitable as of 2012.

January 29, 2011

"Austria Does Not Deserve an AAA Rating"

The chief economist of the American Citigroup, Willem Buiter, also denies Austria, alongside the U.S. and the UK, the right to the AAA rating.

January 29, 2011

Unmodified Lending Policy of Austrian Banks

Austrian banks did not change their lending policy in the fourth quarter of 2010, no modifications are expected for the current quarter either.

January 28, 2011

Erste Bank to Expand its Corporate Customer Business

Business with local companies is set to grow twice as fast as the Austrian market. Share for SME business set to rise from 24 to 33% in the next 3 years.

January 28, 2011

New Heads of Credit Risk Management at Bank Austria

Heinz Tschiltsch new head of CEE Credit Operations, Harald Brückl responsible for Special Credit Austria department.

January 28, 2011

U.S. Embassy on Hypo Group: "Mini-empire in the Balkans"

New Wikileaks documents indicate that the U.S. Embassy analyzed the symbiosis between the Austrian financial and political scene.

January 27, 2011

Bank Assistance is Lucrative for the State

Contrary to fears, revenues of the bank rescue package more than double the refinancing costs.

January 26, 2011

Change in Leadership at Bank Austria

Paolo Fiorentino, has been elected as Chairman of the Supervisory Board of Bank Austria. Francesco Giordano will act as future Chief Financial Officer.

January 22, 2011

Atrium Intends to Clarify Purported Event of Default

After the statement of the Austrian Meinl Bank to sue the real estate fund Atrium because of a “default of payment”, Atrium announces its point of view.

January 22, 2011

Hypo Group Purchase by BayernLB was "unrealistic"

The former chairman of BayernLB’s Supervisory Board said that the bank cheated itself on the purchase of the Hypo Group.

January 20, 2011

Weak Capital Base of Austrian Banks

According to the rating agency Standard & Poor's (S&P), Austria's major banks are equipped with very weak equity by international standards.

January 20, 2011

Life Insurance Continues in Demand

While Austrian private investors have less savings, rights to pensions and life insurances rise.

January 19, 2011

Tax Treaty between Austria and Germany

Austria and Germany sign a revision protocol on double taxation agreements to implement the OECD standards of transparency and effective exchange of information.

January 19, 2011

Oberbank is Expanding

Oberbank boss Franz Gasselberger has big plans. The branch network will be expanded this year by eight new branches to 150. The banker’s focus of expansion is Vienna.

January 19, 2011

Volksbank: Romania Lowers Results

The losses in Romania constitute a distinct disadvantage, especially for the sale process of the East-Holding of the VBI.

January 19, 2011

The Hypo Group and its Consultants

In the months before and after the emergency nationalization of the Austrian Hypo Group, the Bank paid rich consulting fees despite all turbulences.

January 18, 2011

Volksbanken to Sell Share in RZB

According to newspaper reports, the Austrian Volksbanken Group sells a 6% share on Raiffeisen Zentralbank.

January 17, 2011

Bank Taxes: „Job Cuts or Price Increase”

According to Michael Ikrath, bank representative of the “Sparkassen”, the new charges for Austrian banks are the highest in Europe.

January 17, 2011

Austria's Funds Showed a Plus in 2010

2010 was another year of gains for Austrian funds: of 1601 funds, 1464, showed a positive performance.

January 15, 2011

Bank Austria Increases its CA-Immo Stake

The UniCredit-subsidiary intends to acquire a major stake of the Austrian real estate company CA Immo.

January 15, 2011

Investment Inhibition in Austrian Companies

The investment situation of Austrian companies is analyzed in the liquidity situation report by PwC. There are still frictions present on the capital market.

January 14, 2011

Customer Growth for Construction Savings Bank ABV

In 2010, the Austrian construction savings bank ABV granted building loans for € 287m.

January 14, 2011

Bank Austria Bids for Bank of Moscow

The UniCredit subsidiary is reported as holding talks with the Bank of Moscow to acquire a 46.5% stake.

January 14, 2011

Bawag and Post Share 520 Branches

Investments in the common branch network of the Austrian Post and the U.S. fund Cerberus owned Bawag are running.

January 14, 2011
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