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Hypo Group: Risk Identified Already in 2009
Three months after a report on the risk and susceptibility to fraud of Hypo Group’s leasing affiliates was published by PwC, ailing Hypo Group was nationalized.
March 3, 2014
„Austria Needs an Excellent Minister of Finance“
Andreas Treichl, CEO of the third-biggest lender in Central, Eastern and Southeastern Europe expressed subtle doubt as to whether Michael Spindelegger is the right person for the job.
March 2, 2014
Fitch Keeps Slovak Rating Unchanged
Slovakia´s issuer default rating was kept unchanged at “A+”. The outlooks remain stable.
March 1, 2014
Hungarian Property Market Crisis Sharpens
In 2013, the building activity in the residential property sector fell dramatically. A soon recovery is more than unlikely.
March 1, 2014
Moody´s Confirms Austria´s Rating Despite Hypo Group Disaster
The rating agency has reiterated Austria´s top sovereign debt rating. Moreover, the outlook was upgraded from “negative” to “stable”.
March 1, 2014
Polish Currency Suffers from Instability in Ukraine
The Polish Zloty has become weaker because of the political instability in Ukraine.
February 28, 2014
Austria/Ukraine: Bank Accounts of Former Leading Politicians to be Frozen
Austria imposes unilateral sanctions against 18 members of the overthrown Ukrainian regime. Among the high-ranking officals are former president Viktor Yanukovych and his son Oleksander Yanukovych.
February 28, 2014
Hypo Group: Decision about Future Delayed
The decision about the future of Austrian problem bank Hypo will be delayed.
February 28, 2014
Hypo Group: “Worst Thing If Government Does Not Make Decision”
According to Felderer, President of the Fiscal Council, a downgrade in the country rating must not be taken “too seriously”.
February 28, 2014
Austria: Bank Accounts of Ukrainians to be Frozen
At the instigation of the new Ukrainian government Austria will freeze the bank accounts of 18 Ukrainians at domestic banks until further notice.
February 28, 2014
Erste Group: Profits Decline
Erste Group posts net profit of EUR 61.0 million in 2013 and improves capital ratios.
February 28, 2014
Poland: PKO BP Takes over Nordea’s Insurance Division
Polish financial market regulator KNF has finally approved the takeover of life insurance company Nordea TUnZ by PKO BP.
February 27, 2014
Austrian Banks with Significant Exposure in Ukraine
Ukrainian crisis hits Western Banks in different state compared to 2008/09, according to RBI.
February 27, 2014
Hypo Group: New Figures Added to Number Games
The number games in regard to Hypo Group’s downsizing to not seem to cease. New figures will be released by the bank’s task force at the beginning of next week.
February 27, 2014
Slovenia: Economy Minister Rejects New Corporate Taxes
According to newly-appointed Slovenian Minister of Economy, Metod Dragonja, the main driver for economic growth is trade and exports. Instead of introducing new corporate taxes he calls for a fund for domestic enterprises.
February 26, 2014
Hypo Group Insolvency to Cost € 10bn at Least
Taxpayers in Austria would be burdened with at least € 10bn if Hypo Group was sent into insolvency.
February 26, 2014
Poland: Fastest Growing Economy in EU
According to the EU Commission, Poland will see the fastest growth in 2014 among the largest former communist countries of the European Union.
February 26, 2014
Hungary: Customers Fleeced by Banks
For the first time in three years Hungarian commercial banks have returned to profitability. However, extra cost, caused by political circumstances, was passed on to clients.
February 26, 2014
Austria: National Assembley Rejects Investigation Committee
The parliamentary investigation committee for Hypo Group, demanded by the opposition parties, was rejected in a roll-call vote in the National Assembley.
February 26, 2014
Austria: Hypo Group Council to Strain Budget Even More
The Finance Ministry will appoint an international consulting team for the downsizing of nationalized problem bank Hypo Group Alpe Adria. However, costs are increasing dramatically by this step.
February 25, 2014
CNB Not to Stop Monetary Interventions Just Yet
Exchange rates in the Czech Republic will not go back to the state before monetary interventions were carried out by CNB.
February 25, 2014
Austria: “Council of the Wise“ for Hypo Group
Instead of a parliamentary investigation committee the coalition expressed its wish to appoint a “Council of the Wise” for the the assessment of the ailing bank’s nationalization.
February 25, 2014
The Bank Branch of the Future Already in its Beginnings
Since 2008 the branch network of banks in the Eurozone has been shrinking. Likewise, banks struggle for client contacts in order to increase the client base.
February 25, 2014
Ukraine: Austrian Banks Reopened Branches
After the political disaster in the Ukraine all bank shops in the country’s capital Kyiv have opened again on Monday.
February 25, 2014
Hypo Group: Nowotny Calls for Fast Proceeding
Newly designated head of Hypo Group’s task force, Governor of the Austrian National Bank (OeNB) Ewald Nowotny, calls upon the government to fastly proceed with the downsizing of the ailing bank.
February 24, 2014
Warsaw Stock Exchange Registers Profits
The operator of Warsaw Stock Exchange (WSE) GPW saw an increase in profits in the business year 2013.
February 24, 2014
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
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