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Banking Industry
RBI CEO under Suspicion of Prosecution against Corruption
Karl Sevelda, CEO of Raiffeisen Bank International (RBI), is suspected of having sold company’s shares of a commodity trader below their value. The prosecution in Vienna is now searching Sevelda’s office.
December 18, 2013
Hypo Group: Take-Over Almost Completed
British-Indian Anadi Financial Holding had to wait for months until the take-over of Austrian Hypo Group Alpe Adria was approved.
December 18, 2013
Czech Republic: Rusnok to become CNB Board Member
Outgoing Prime Minister Jiri Rusnok will be appointed new board member of the Czech National Bank (CNB) by President Milos Zeman.
December 18, 2013
Hypo Group Insolvency: Total Damage of € 26bn
Ewald Nowotny, governor of the Austrian National Bank (OeNB), warns of follow-up costs in case of a bankruptcy of the Austrian nationalized lender.
December 17, 2013
Austrian Banks: “Less than No Interest” in Bad Bank Participation
According to Felderer, Austrian major banks have “less than no interest” in a participation of a Hypo Group’s bad bank.
December 17, 2013
Austria: Major Banks Exhibit Significant Shortages in Core Capital Quota
Both Erste Group’s and RBI’s core capital quota is below the European average.
December 17, 2013
Banking Union: Bank Resolution as Hot Topic
The Finance Ministers of the Eurogroup countries are discussing the future of the banking union in Brussels today.
December 17, 2013
PKO: Capital Base Improves
According to the European Banking Authority (EBA), the largest Polish bank could strengthen the capital position.
December 17, 2013
Austria: Fate of Hypo Group Still Unclear
Only next year the fate of ailing bank Hypo Group Alpe Adria will be determined.
December 16, 2013
Hungary: Good News for Banks in Forex Proceedings
Banks operating in Hungary can feel relieved by the Supreme Court’s judgement.
December 16, 2013
Slovenia: Bad Bank to Operate Longer than Expected
According to executive director Mannson, the collecting and selling of non-performing loans would take at least ten to fifteen years.
December 16, 2013
Austria: Opening Balance Reveals Massive Mountain of Debt
Public debts exceed the federal assets by more than double the amount, as revealed by the opening balance published by outgoing Finance Minister Maria Fekter last weekend.
December 16, 2013
NBS: Moderate Rise in Inflation
Moderate rise of inflation expected by the National Bank of Serbia (NBS).
December 16, 2013
Bulgaria: S&P Downgrade Criticized Sharply
Bulgarian Minister of Economy Dragomir Stynev does not agree with S&P´s view on Bulgaria´s creditworthiness.
December 16, 2013
Slovenia: Haircut for Junior Bondholders
Subordinated bond holders of the state-owned Slovenian banks will lose their investments completely. This is part of the recapitalization scheme.
December 14, 2013
MNB Replaces Hungarian Banking Industry
In order to push economic growth rates, Hungary´s National Bank continues to support the subsidized loan program. The support should help to boost the construction of real estate.
December 14, 2013
Bank Austria`s Headquarter Sold
The Austrian investor Ronny Pecik has bought the headquarter building of the largest Austrian bank.
December 14, 2013
Austrian Banking Industry Has to Fear Bank Tax Increase
At the end of this week, the Austrian social democrats and the conservatives agreed on continuing their coalition. Although the fiscal strategy is not fully known yet, a bank tax increase is likely.
December 14, 2013
BayernLB to Keep Hungarian MKB Unit
BayernLB’s plans to seperate from loss-making Hungarian affiliate MKB were not put on hold. Instead, the German bank wants to continue to push forward with austerity measures and cut jobs.
December 14, 2013
Croatia: Privatization of HPB Fails
The privatization of the Croat Postal Bank (HPB) has failed for the time being. For the potential buyers, HPB is too risky.
December 13, 2013
Positive Respond to Slovenian Bank Recapitalization Plans
The European Bank for Reconstruction and Development responds positively to the results of the asset quality review of Slovenian banks and the corresponding plans of the government.
December 13, 2013
Austria: Spindelegger Replaces Fekter
The designated cabinet members were presented to the public today. Maria Fekter will not be a cabinet member anymore.
December 13, 2013
Capital Injection for Hypo Group Approved
In the general assembley of Hypo Group the path was cleared for a further capital injection in the amount of € 800m.
December 13, 2013
Slovenia Pushes Forward with Privatizations
In spite of the capital shortfall of € 4.78bn of the banks in Slovenia, the bank stress test was passed by the financial institutes.
December 13, 2013
Croatia: Erste Offer Rejected
Austrian Erste Group intended to aquire Croatian HPB. However, the offer was rejected by the Finance Ministry as the purchase price was considered too low.
December 13, 2013
Austrians Hold More Cash Reserves
According to the Austrian National Bank, Austrian savers have reduced their deposits at Austrian banks. In return, cash reserves have risen.
December 12, 2013
Hungary: Stable Outlook Yet Still Junk Status
In spite of Matolcsy, governor of the Hungarian National Bank (MNB), demanding a better rating for the country’s credibility, the major rating agencies have not raised them.
December 12, 2013
Serbia: NBS FX Reserves Amounted to More than € 10,362m at End-November
FX Reserves and IFEM movements in November.
December 12, 2013
Austria: Hypo Group Insolvency Best Solution for Taxpayers
According to consulting agency Oliver Wyman, an insolvency of ailing bank Hypo Group would be the most favorable option for taxpayers as instead of domestic banks foreign banking institutes will be burdened.
December 12, 2013
Slovenian Banks Exhibit Capital Gap of Almost € 5bn
The capital gap of Slovenian banks comes at a total of 4.78bn, according to the stress test published today.
December 12, 2013
Czech Republic: Banking Sector Proves Stable
According to the latest results of the bank stress test by the Czech National Bank (CNB), the domestic financial institutes remain resistant to a potential negative development.
December 12, 2013
Austrian Banking Industry Depends on Russia and Czech Republic
For the Austrian banking sector, the CESEE region is highly heterogeneous. In the first six months of 2013, net earnings totaled € 1.4bn in the region.
December 12, 2013
Austria: Nowotny Reiterates Statement
Ewald Nowotny, governor of the Austrian National Bank (OeNB), reiterated his view on Hypo Group.
December 11, 2013
No Major Progresses in Banking Union
Tuesday night the Finance Ministers of the European Union have gradually approached on the outstanding issues in the handling with banks threatened by bankruptcy.
December 11, 2013
Czech Republic: New Government Confirmed
Seven weeks after the national elections, the Czech Social Democrats (CSSD) have agreed to form a coalition with ANO and the Christian Democrats (KDU-CSL).
December 11, 2013
Ten Capital Market Themes for 2014 by Raiffeisenbank
Leading indicators show a recovery of global growth.
December 11, 2013
OeNB Calls on Austrian Banks to Strengthen Their Capital Base Further
Presentation of the Financial Stability Report 26 of the Oesterreichische Nationalbank (OeNB).
December 11, 2013
Hypo Group Alpe Adria to Receive Next Capital Injection
On Friday the ailing bank is expected to receive fresh money again in association with the extraordinary general meeting.
December 11, 2013
Slovenia: Bank Bailout Plan Is Completed
Tomorrow, December 12, the results of the bank asset review will be published. The next steps have been determined already in advance.
December 11, 2013
Hypo Group Alpe Adria: Liebscher Against Haircut
Klaus Liebscher, chairman of Hypo Group’s supervisory board, is strictly against a debt cut at the nationalized bank. He expects a decision about a bad bank only in the first quarter next year.
December 10, 2013
Serbia: World Bank Attaches Loan to New Laws
The World Bank has attached the loan in the amount of US-$ 250m (€ 183m) for Serbia to the implementation of three important laws within this year still.
December 10, 2013
Improving Situation for Banks in CEE
Raiffeisen analysis getting a notch more optimistic on CEE banks.
December 10, 2013
Slovenia Still Wants to Solve Problems on Its Own
According to head of Eurogroup Jeroen Dijsselbloem, the highly indebted country intends to get a grip on the problems of its banking sector.
December 10, 2013
Former Kazakh Embassador Facing Trial in Austria
Rachat Alijew is facing prosecution in Austria because of alleged money laundering. Moreover, a former Austrian Chancellor is suspected of spying.
December 10, 2013
NKBM´s CEO Demonstrates Optimism
In an interview with the Slovenian STA, Ales Hauc stressed that the second-largest Slovenian lender has a positive future.
December 10, 2013
Bulgaria: Prime Minister Stresses Positive Development
Plamen Oresharski stressed that Bulgaria has performed better than expected in 2013.
December 10, 2013
EU Demands € 55bn for Banking Union
The Finance Ministers of the European Union are still negotiating about a mechanism aimed at preventing states from having to take over financial difficulties from banks, the banking union.
December 9, 2013
Wifo: Austrian Economic Growth Still Sluggish
Seasonally adjusted and corrected for working day effects, GDP increased by 0.2 percent compared to the second quarter. The upturn becomes evident only in a very moderate pace.
December 9, 2013
OTP Interested in MKB
Sandor Csanyi, CEO of the largest Hungrian lender OTP, considers taking over the rival MKB.
December 9, 2013
Austrian Banking Sector: € 35bn NPL
Due to the gloomy economic situation in CESEE and the stagnating domestic economy, Austrian banks suffer from growing non-performing loans.
December 9, 2013
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