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CESEE
Slovenia: Budget Shortfall Greater than Expected
As per the end of November the country’s budget deficit amounted to almost € 1.62bn, according to the latest estimates by the Finance Ministry.
December 20, 2013
Wifo: Sluggish Growth Because of Weak Consumption
According to Wifo’s (Austrian Institute of Economic Research) prognosis for the coming years, economic upturn in Austria will remain flat because of weak consumption.
December 19, 2013
Stable Outlook for CESEE Banking Industry
According to the U.S. rating agency fitch, the sector outlook remains stable in Central, Eastern and Southeastern Europe. However, the well-known risks and weaknesses will persist.
December 19, 2013
CESEE: Potential to Return to Pre-Crisis Growth
According to a report published by the business adviser McKinsey, countries of Central, Eastern and Southeastern Europe are fundamentally strong.
December 18, 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
CESEE: More Robust than in 2008
The U.S. Federal Reserve wants to reduce its easing policy gradually. For emerging markets, the end of the loose monetary policy may prove challenging.
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
Emerging Markets Face Decrease in Risk Appetite
Foreign investors become more and more cautious about investing in emerging markets. Regions like Central, Eastern and Southeastern Europe are highly dependent on foreign sentiments.
December 14, 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
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
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
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: 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
EU/CESEE: Real Income Shrinks
In 2013, the real income will do down in Austria. Since 2010, the Austrian real income was down by 1.3%. In Hungary, real income fell by 15% in that period.
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
Austrian FDI Worth Less than in 2003
Due to the financial crisis after 2008, foreign investments of Austrian investors have lost in value dramatically.
December 7, 2013
Economic Recovery in CESEE Supported by Exports
According to the GDP data for some Central and South Eastern European countries published today, economic recovery was backed by a strong increase in export activity.
December 5, 2013
Poland: BGZ Bank Taken Over by BNP Paribas
Polish BGZ Bank will be taken over by French BNP Paribas for a selling price of around € 1bn.
December 5, 2013
RZB Faces Severe Restructuring Measures
The Raiffeisen Zentralbank (RZB) is facing severe restructuring and downsizing measures as it has to cut the number of employees.
December 4, 2013
Bank of Albania Presses for Agreement with IMF
The Albanian economy from short-term adjustment toward long-term sustainable growth. Why Albania needs an agreement with the IMF.
December 4, 2013
Austria: Government Rules Out Hypo Group’s Insolvency
Chancellor Faymann referred to incalculable economic and political consequential effects due to the liabilities assumed by Hypo Group Alpe Adria.
December 3, 2013
Bank Austria: Sales Proceeds for Kazakh Affiliate Dropped
Sales proceeds of Bank Austria’s Kazakh affiliate ATF Bank only came at € 294m which is significantly less than announced by the bank in the first half year.
December 2, 2013
Bosnia: NPLs Increasing Dramatically
Almost 15 percent of the total volume of loans in Bosnia are bad.
December 2, 2013
Sevelda: „We Are Close to the Breaking Point“
In a guest comment published by the Austrian business magazine Format, CEO of Raiffeisen Bank International Karl Sevelda refers to the high burden for Austrian banks.
November 29, 2013
CESEE: Slight Growth Acceleration, but Uncertainties Persist
The Vienna Institute for International Economic Studies (wiiw) has published the economic forecast for the CESEE region today. The economic performance varies substantially from country to country.
November 28, 2013
Sberbank Strives for Organic Growth in CESEE
In 2012, the largest Russian bank took over VBAG´s sub-holding for the CESEE region. As Sberbank still has to invest a lot in the former subsidiary of Austrian VBAG, CEO German Gref is not perfectly satisfied with the acquisition.
November 27, 2013
CESEE: Austrian Banks Face New Challenges
For Austrian banks, the assessment by the ECB may bring new difficulties. Non-performing loans in CESEE are said to be higher than officially known.
November 26, 2013
New Austerity Measures for Bank Austria
UniCredit´s Austrian subsidiary and biggest Austrian bank faces job cuts and structural measures again.
November 26, 2013
Wide Parts of CESEE Region Below Pre-Crisis Level
In terms of economic output, a large number of CESEE countries have not reached the level of 2008 yet. The growth outlook remains cautious.
November 25, 2013
Austria: Decent Economic Outlook
Despite an economic acceleration, the macro-economic frame conditions remain difficult in 2014. A major risk factor is the fiscal situation.
November 24, 2013
EBRD: Eastern Europe “Stuck in Transition“
The European Bank for Restructuring and Development (EBRD) warned that Eastern Europe and the countries of the former Sovjet Union could remain “stuck in transition”, which is the titel of the current report.
November 21, 2013
RBI: Fresh Money for Slovenian Subsidiary
Raiffeisen Bank International, the third biggest lender in CESEE, injects € 10m into the Slovenian subsidiary.
November 21, 2013
RBI Examines Sale Offers in Hungary
Apart from the withdrawal from Ukraine, Raiffeisen Bank International (RBI) considers an exit from Hungary.
November 19, 2013
Nowotny: Must Avoid Bubble in CESEE
In order to avoid another asset bubble like in 2008, loan growth has to be monitored, governor of Austrian National Bank Ewald Nowotny says.
November 19, 2013
Nowotny: Economic Recovery not as Strong as Expected
According to Ewald Nowotny, governor of the Austrian National Bank (OeNB), indicators point toward a slow recovery in the next quarters.
November 18, 2013
RBI Considers Leaving Ukraine
The second-biggest lender in the CESEE region, Austrian Raiffeisen Bank International, confirms the intention to sell the Ukrainian affiliate Aval.
November 17, 2013
VBAG: Capital Requirement up to € 1.0bn
The partially nationalized Austrian bank needs further capital injections next year.
November 16, 2013
Austerity Cuts at Sberbank
Russian Sberbank aims to become more efficient. The management cuts about a tenth of the jobs.
November 13, 2013
Austria: Bawag to Pay Off Further State Capital
Today CEO Byron Haynes announced that Bawag will pay back a further tranche of the bank state aid injected in 2009.
November 13, 2013
CESEE: Economic Turnaround Ahead
Ruchir Sharma, fund manager at Morgan Stanley stresses that Central, Eastern and Southeastern Europe is more attractive than the BRICS countries.
November 12, 2013
Western Balkans Struggling with NPL
The high percentage of non-performing loans in the Western Balkan region is affecting the financial stability of the region’s countries.
November 11, 2013
CESEE: Growth Remains Below Potential
Today, the EBRD (European Bank for Reconstruction and Development) has published its economic outlook for the CESEE region. The reform pressure is growing, Anthony Willams at EBRD wrote.
November 11, 2013
Unequal Retail Real Estate Investment Activity in CESEE
While investments in retail real estate in Bulgaria see an upturn, those in Romania have dropped immensely by more than 50 percent.
November 8, 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
Romania: Growth Rates to Exceed Forecasts
According to the autumn forecast published by the EU Commission on Tuesday, Romania will exceed the previous estimates.
November 6, 2013
Hypo Group: Restraining Effect on Budget Consolidation
According to the EU’s autumn prognosis, nationalized Hypo Group and its liabilities running in the billions still have a restraining effect on the Austrian budget consolidation.
November 5, 2013
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
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