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Banking Industry
Nowotny Against ECB’s Key Rate Cut
The governor of the Austrian National Bank has, according to reports, voted against the ECB’s most recent interventions.
November 11, 2013
Romanian Inflation Forecast Adjusted by NBR
The National Bank of Romania (NBR) has adjusted the inflation forecast downward for 2013 and 2014.
November 11, 2013
Czech Republic: CNB to Intervene in Forex Market
After the Czech koruna (CZK) was devalued, the Czech National Bank (CNB) is keen on preventing a deflation. However, the key rate cannot be cut anymore as it is close to zero.
November 11, 2013
Hypo Group: Urgent Need for Fresh Money
The ailing nationalized bank Austrian Hypo Group Alpe Adria has a capital shortfall of € 1.3bn. The gap must be closed before the end of the year.
November 11, 2013
Macedonia: Foreign Currency Lending Massively Up
Parents of Macedonian banks have only very limited influence on their subsidiaries, the EBRD reports.
November 9, 2013
Bulgarian Banks Suffer from Low Customer Creditworthiness
According to the EBRD, the Bulgarian banks are a source of funding for their parents.
November 9, 2013
Serbian Banking Sector: Weak Regulatory Environment
In the last years, Serbia´s banking industry did not record any significant growth impulses. Foreign-exchange loans were reduced substantially.
November 9, 2013
Romanian Banking Sector Highly Centralized
The EBRD has observed a high proportion of banks reporting that the parent bank´s influence is high.
November 9, 2013
Slovenia: Domestic Banks Dominate the Market
According to the EBRD, Slovenia´s banking industry is faced with a declining credit demand. A lack in funding has become less acute.
November 9, 2013
Croatia´s Banking Sector Remains Competitive
The Croat legal system is perceived as major weakness. Credit demand is going down for years.
November 9, 2013
Frame Conditions for Banks Remain Difficult in Hungary
The Hungarian banking sector is highly dissatisfied with the regulation environment, the European Bank for Reconstruction and Development reported.
November 9, 2013
Slovakia: Weak Credit Demand
Due to the lack of credit demand, lending is below its potential. Foreign banks in Slovakia are relatively independent from their parents.
November 9, 2013
Czech Banking Sector Strongly Influenced by Foreign Banks
The EBRD has published the “Banking Environment Performance Survey”. Foreign parent banks exert a strong influence on their subsidiaries.
November 9, 2013
Poland: Solid Banking Sector
According to the European Bank for Reconstruction and Development, the perceived regulation pressure is too high for Poland´s banking sector.
November 9, 2013
BNP Shows Interest in Taking Over Polish BGZ
In the race for the Polish lender BGZ, the biggest French bank BNP Paribas enters the stage.
November 8, 2013
Austrian Government Hid Enormous Fiscal Shortfall
In the next five years, Austria´s fiscal shortfall may total up to € 40bn. The Austrian government did not disclose details yet.
November 8, 2013
Albania: Domestic Banks Struggling to Keep Up
According to a report by the European Bank for Reconstruction and Development (EBRD), the Albanian financial sector is dominated by foreign banks. Domestic banks are struggling to keep up with the internationally operating competition.
November 8, 2013
Bulgaria: Finance Ministry Approves Schuldschein Loan
In order to close the Bulgarian budget deficit gap, the Finance Ministry has decided to take out a Schuldschein loan in the amount of € 360m.
November 8, 2013
Komercni Banka Posts Lower Net income
Today, Czech Komercni Banka published the third quarter results. Lending was up by 2.9%, deposits grew by 4.8%. Net income was down by 7.75.
November 7, 2013
Austrian Banks Forced to Prepare in Case of Bankruptcy
From 2014 on, the Austrian Banks are required to start planning the emergency scenario in case of a liquidation in order to be able and react more quickly.
November 7, 2013
Slovenia: Ten Banks under Stress Test
In addition to the country’s three major banks, NLB, NKBM and Abanka Vipa, seven other banks are concerned by the bank stress test.
November 7, 2013
ECB to Keep Interest Rate Low
Despite a low inflation, the European Central Bank (ECB) will keep the interest rate low. The Council of ECB has held a meeting on Thursday morning
November 7, 2013
Slovenia Liquidates Two Banks
The Slovenian National Bank has approved a plan for the liquidation of Factor banka and Probanka. The capital shortfall will reach about 400m, according to estimations.
November 7, 2013
Bawag Denies Circulated Job Cuts
According to media reports, the Austrian bank plans radical job cuts in 2014. Bawag´s management stressed that the rumors are untrue.
November 7, 2013
Romania: Key Rate Cut Again
The most recent cut was the fourth in a row since the beginning of July. Experts forecast the rate cutting cycle to stop in the first quarter next year when the country’s key rate is supposed to stand at 3.5 percent.
November 6, 2013
Leitl Rejects Further Bank Taxes
Christoph Leitl, president of the Austrian Chamber of Commerce (WKO), rejects the Finance Ministry’s plan to impose further taxes on Austrian banks in order to decrease public debts.
November 6, 2013
Banking Sector Reduces Lending
Instead of offering loans to the corporate sector, banks tend to invest in sovereign bonds. The CESEE region is particularly affected by this.
November 6, 2013
Bulgaria: Banks Have More Assets at Disposal
With more money available, banks in Bulgaria are now able to grant more loans.
November 6, 2013
Austria: New Austerity Package to Come?
Austrian economists expect that the new government will draft another austerity package. Otherwise the fiscal objectives will not be achieved.
November 6, 2013
Banking Sector: Difficulties in Croatia Ahead
In order to protect indebted home-owners, the Croat parliament will resolve a new bank act. Like in Hungary, foreign-exchange-based mortgage should be converted at the expense of banks.
November 6, 2013
Hungary: Parliament Resolves Bank Act
The Hungarian banking sector, which is dominated by Austrian banks, faces new difficulties.
November 5, 2013
Bawag Faces Radical Job Cuts
The Austrian bank implements fierce austerity measures. About a fifth of the jobs may be cut.
November 5, 2013
Austria: Compulsory Levy on Assets Simply “Out of Question“
Top bankers and economists in Austria consider the compulsory levy of ten percent on household assets “out of question” and “ludicrous”.
November 5, 2013
Analysis - Vienna Stock Exchange on a “Sustainable Upward Trend”
After five downhill years, the Vienna Stock Exchange is finally seeing something like a silver lining.
October 30, 2013 · Updated: November 5, 2013; 18:00
Bawag Investor Cerberus to Leave?
Rumors have it that US fund Cerberus will sell his share in Austrian bank Bawag. According to head of Bawag, Byron Haynes, a selling process has not yet begun.
October 31, 2013 · Updated: November 5, 2013; 17:30
Number of Banks Shrinks Substantially
Since 2008, about 10% of the banks had to be closed in the Eurozone. In the last five years, 16,200 bank shops were shut down. In Austria, the situation is almost the same.
November 5, 2013
Austrian Banks Demand Cut in Bank Levy
Major banks in Austria demand tax reliefs in return for a participation in Hypo Group Alpe Adria’s bad bank.
November 5, 2013
CESEE Region: Booming Exports Prevent Recession
The underlying reason for the improving economic sentiment in the CESEE region is the expanding industrial sector. However, the region remains vulnerable to foreign trade and foreign investments.
November 5, 2013
Hungary: Another Bad Surprise for Banks
The Hungarian government plans to shift even more burdens to the banking sector. Costs for the banking sector will reach more than € 3.5bn.
November 4, 2013
Czech Budget Deficit to Remain Below Approved Mark
The budget deficit in the Czech Republic increased to CZK 47.7bn in October from CZK 38.2bn in September.
November 4, 2013
Austria: Liquidation No Option for Hypo Group
Nationalized-by force Hypo Group Alpe Adria, which is struggling under liabilities running in the billions, will not be closed. OeNB rejects rumors about establishing a bad bank
November 4, 2013
Industrial Sector: Growth Painfully Slow
According to a survey by research institute Markit, industrial production in the Eurozone increased in October for the fourth time in a row. However, the rate of growth is still low.
November 4, 2013
Slovenia: Highest Contribution of GDP to ESM
As reported by Slovenia Times, the country has spent 2.8 percent of GDP for the Euro Stability Mechanism (ESM) last year.
November 4, 2013
Boost for Municipal Infrastructure in the Western Balkans
EBRD and KfW launch new €100 million fund
November 4, 2013
Slovenia´s Government Hopes for More FDI
In order to promote more foreign direct investments, Prime Minister Alenka Bratusek plans to hold investment conferences across Europe.
November 1, 2013
Slovenia: Banking Act Approved
The Slovenian Parliament has voted for an amendment of the banking act. It is still unclear whether Slovenia is able to recapitalize the banking sector sufficiently.
November 1, 2013
Czech Republic: Consumer Loans Weaken
The Czech loan growth is mainly driven by housing loans. The overal loan structure is improving, the NPL level remains flat.
November 1, 2013
Slovak Banking Industry Records Growing Net Income
In the first nine months of 2013, Slovakia´s banking sector recorded a total net profit of € 449m.
November 1, 2013
RBI: Rothensteiner Opposed Payout Block
The head of the Raiffeisen Centrobank and Chairman of RBI’s (Raiffeisen Bank International) supvervisory board Walter Rothensteiner is critical of a capital increase by a payout block.
October 31, 2013
Banks Jeopardize Austrian Triple-A Rating
In case further aids will become imminent, Austria could lose its rating.
October 31, 2013
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