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Banking Industry

Austria: Spindelegger under Attack

Finance Minister Spindelegger is under attack by former head of Hypo Group’s task force, Liebscher.

February 24, 2014

Slovenia: NLB Reports Losses in Business Year 2013

The biggest lender in Slovenia has amounted considerable losses because of having been forced to create loan loss provisions.

February 22, 2014

Hypo Group: Nowotny to Replace Liebscher

After Liebscher, head of Hypo Group’s task force, announced throwing in the towel Nowotny, Governor of the Austrian National Bank (OeNB), will become his successor.

February 22, 2014

Hypo Group: 35 Percent Say FPÖ Has Main Share of Blame

According to a survey conducted by Austrian news magazin “Profil”, 35 percent consider the Austrian Freedom Party (FPÖ) to bear the main share of the blame in regard to the financial disaster of Hypo Group.

February 22, 2014

Felderer: Insolvency More Expensive Than Bad Bank

According to Felderer, president of the fiscal council, the option of insolvency for Hypo Group Alpe Adria is more expensive than the establishing of a national bad bank

February 22, 2014

Austria: Investment Banker Part of Hypo’s Expert Group

A former investment banker is supposed to support Austrian government in the Hypo Group issue.

February 21, 2014

Austria: Head of Hypo Group’s Task Force to Resign

Klaus Liebscher, head of Hypo Group’s task force, steps down.

February 21, 2014

Government Examines Haircut of Hypo Group’s Investors

Ignoring the warnings of Hypo Group’s task force, Finance Minister Michael Spindelegger now wants investors in Hypo Group to participate in the restructuring of the ailing bank.

February 21, 2014

CEE Financial Markets under Pressure as Riots Continue in Ukraine

CEE markets under pressure as Ukraine violence heats up. Biggest direct risk to Polish Zloty, but also to Hungarian Forint and Romanian Leu.

February 21, 2014

RBI Closes All Affiliates in Kyiv

Because of the most recent violent outbreaks in Kyiv the Ukrainian affiliate of Raiffeisen Bank International (RBI) has closed its affiliates in the country’s capital

February 21, 2014

Serbia: Structural Reforms to Boost FDI

Recent projections of the National Bank of Serbia (NBS) forecast foreign direct investments (FDI) to increase to € 1bn this year up from € 750m.

February 21, 2014

Fitch Keeps Rating for Austria at High Level

According to the Rating agency the downsizing of Hypo Group will burden the debt rate. However, the outlook for the country’s credibility was left at a “stable” outlook.

February 21, 2014

Spindelegger: Taxpayers Should Not Carry Whole Load

Finance Minister Spindelegger declared himself in favor of a haircut of creditors of problem bank Hypo Group.

February 20, 2014

Austria: Rating Endangered

US-based rating agency Fitch will update its country rating for Austria tomorrow. Finance Minister Spindelegger is in favor of a haircut for investors of Hypo Group Alpe Adria.

February 20, 2014

Austrian Government Wants International Group of Experts

More and more voices for a parliamentary investigation committee for ailing bank Hypo Group Alpe Adria are being raised even within the SPÖ and the ÖVP. However, the government has other plans.

February 20, 2014

Polish Insurer PZU Closes Offices in Ukraine

Because of the ongoing riots in the Ukrainian capital Kiev, state-controlled insurance company PZU decided to shut down two offices.

February 20, 2014

Hypo Österreich = Austrian Anadi Bank

Hypo Österreich will be renamed to “Austrian Anadi Bank”.

February 20, 2014

Serbian Governor: Banking Sector Stable

According to Tabakovic, governor of NBS, the Serbian banking sector was solvent and well-capitalized.

February 20, 2014

Polish PKO BP Tapping into Swedish Leasing Market

Major Polish lender PKO BP has opened a branch of its leasing unit in Sweden.

February 20, 2014

Liebscher: Government Is to Blame

Head of Hypo Group’s Task Force Klaus Liebscher rejects being turned into the scapegoat of delaying important decisions about the downsizing of the problem bank. Instead, he points his finger to the Austrian government.

February 20, 2014

EU Commission to Examine Slovenian Bank Restructuring Plan

Slovenia has sent the restructuring plan for its third largest bank, Abanka Vipa, to the EU Commission.

February 20, 2014

Hypo Disaster: Who Are the Beneficiaries?

International investment companies, funds and domestic banks are the major recipients of the billions of Euros in the Hypo Group disaster.

February 19, 2014

Zeman: Entry in Eurozone Delayed

In a speech to the Lower House ahead of the vote in confidence for the new government Czech President Milos Zeman expressed his dissatisfaction over the latest monetary intervention by the Czech National Bank (CNB).

February 19, 2014

Picker: Hypo to Cost Taxpayers “Only” up to € 4bn

According to CEO of Hypo Group Alpe Adria Picker, the ailing bank will burden taxpayers with “only“ € 4bn at the most. Head of IHS, Keuschnigg, warns the Austrian policy-makers of forwarding costs to bondholders.

February 19, 2014

Austria: Moody’s Downgrades Four Bonds

Moody’s downgraded four bonds of Austrian banks on Tuesday. The outlook is negative.

February 19, 2014

Hypo-Disaster: Government Playing Hide and Seek

After the emergency sitting in the National Assembley, which was demanded by the opposition parties and took place yesterday, the Austrian government refused to answer questions to the press and the public.

February 18, 2014

Hypo Bankruptcy Could Severly Harm BayernLB

Rating agency Moody’s sees German BayernLB impacted by the critical capital situation in the coming years.

February 18, 2014

Erste: CEE Financial Market Not Concerned by Low Inflation

Low inflation will not change CEE market forecasts, according to Erste Group.

February 18, 2014

Poland: PKO BK Still Wants to Take Over Nordea

PKO BP had to extend the subscription period for the second time.

February 18, 2014

Spindelegger Positive about Creation of Financial Transaction Tax

In the run-up to the beginning of the ECOFIN Council in Brussels, negotiations about the further proceeding of the financial transaction tax were held among eleven EU finance ministers.

February 18, 2014

Poland: Strong Prospects for High Growth

Prime Minister Donald Tusk is positive Poland will achive a GDP growth of more than three percent this year.

February 18, 2014

Nowotny: Negative Interest Rate Conveys Feeling of Crisis

Ewald Nowotny, member of the Council of the ECB (European Central Bank) and governor of the Austrian National Bank (OeNB), expressed his rejection regarding a possible negative interest rate for banks.

February 18, 2014

Austria: Economic Upturn Still in Standby-Mode

According to the analysis of the economic indicator of Bank Austria, there is moderate growth and hope for the first quarter in 2014.

February 17, 2014

Slovenia: Heading for Recovery

Slovenia seems to have circumnavigated the crisis as the small country is not a Eurozone bail-out candidate anymore, according to Prime Minister Bratusek.

February 17, 2014

Austria: Still No Clarity in Hypo Group Disaster

The Austrian parliamentary parties continue to shift the blame onto each other. Details still have not been presented yet.

February 17, 2014

Government Downplaying Effects of Hypo Group Desaster

Today, both Chancellor Werner Faymann and Finance Minister Michael Spindelegger had to explain their actions in regard to Hypo Group Alpe Adria in parliament.

February 17, 2014

Hypo Group: „Austrian Government Has Negotiated Poorly“

In the cause of the nationalized Balkan lender Hypo Group Alpe Adria, the performance of the Austrian government is miserable, according to Austrian economist Christian Keuschnigg.

February 16, 2014

Threat of Bankruptcy: Moody´s Cuts Hypo Group Alpe Adria´s Rating

The U.S. rating agency downgrades the rating of the Austrian nationalized lender by four notches. Moody´s referred to the uncertainty and the vague statements of the Austrian government.

February 15, 2014 · Updated: February 15, 2014; 18:47

Hypo Group Alpe Adria: Nowotny Attacks Fekter

Governor of the Austrian National Bank (OeNB) Ewald Nowotny criticizes former Minister of Finance Maria Fekter sharply and blames her for inactivity.

February 15, 2014 · Updated: February 15, 2014; 18:19

EU Puts Limit to State Aids for Hypo Group

So far, € 4.8bn in capital aids had to be injected into ailing bank Hypo Group Alpe Adria. According to an EU statement, the Austrian state is only permitted to spend € 3.65bn on Hypo Group.

February 14, 2014

Poland: PKO BP Planning to Establish Mortgage Bank

The Polish bank intends to found a mortage bank around the beginning of the year 2015.

February 14, 2014

Serbia: Key Rate Kept Untouched

The board of the National Bank of Serbia (NBS) underlined the importance of a cautious monetary policy in the light of the current economic developments.

February 14, 2014

„We Were Cheated by BayernLB“

Hannes Androsch, head of the Hypo Group task force, thinks that the former Austrian government has made serious mistakes.

February 13, 2014

RBI Raises Another € 500m

After the capital increase, the Vienna-listed lender has raised capital in the amount of € 500m. The emission was significantly oversubscribed.

February 13, 2014

IHS Rejects Hypo Group’s Bankruptcy

According to Keuschnig, it is also a question about a “national bankruptcy“.

February 13, 2014

Improving Situation in Slovenia

Banka Slovenije points out that the finance industry was negatively affected by provisions and write-offs. However, the situation seems to be improving.

February 13, 2014

Austria: RBI to Pay Back State Capital in March

€ 1.75bn in state aid will be transferred around March 15 if the Financial Market Authority agrees to the repayment.

February 13, 2014

Spindelegger: “Hypo Already Burdened Budget in Past”

The government has still not yet published figures in regard to the current fiscal burden emerging from the winding-up of problem bank Hypo Group Alpe Adria.

February 13, 2014

Banks Lose Credibility and Trust

A survey reveals the fear of financial institutes enriching themselves at the expense of of private persons is widely spread.

February 12, 2014

Poland: Consumer Loans Expected to Rise Significantly

Last year consumer loans saw a 16 percent growth which leads to expecations that Poland will register a double-digit growth rate in 2014 as well.

February 12, 2014
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