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CESEE

Slovakia: Flat Tax to be Abolished

This summer, the Slovakian government will resolve a package of 22 measures in order to fight public debt.

July 10, 2012

Big Exposure in Foreign Currency Loans

In Austria, domestic banks have outstanding foreign currency loans of € 51bn. In CESEE countries, the exposure comes at € 130bn.

July 10, 2012

AUA: Strong Growth in Passengers to Eastern Europe.

Austrian Airlines traffic results June 2012: Significant passenger growth in the first half year.

July 10, 2012

Germany Still Biggest Investor in Austria

For years, Germany leads the ranking of foreign investors in Austria. The Northern neighbour country is followed by Switzerland, Italy, the Netherlands and the U.S.

July 9, 2012

Performance of Austrian Banks Remarkably Down

Austria seems to be significantly „overbanked“: Austrian banks only achieve a 0.1% yield on the capital employed.

July 9, 2012

OeNB Calls Austrian Banks to Improve Equity Base

Presentation of the 23rd Financial Stability Report of OeNB (Austrian Central Bank): Austrian Financial System Influenced by Tensions in the International Financial Markets.

July 9, 2012

Southeastern Europe Faces Recession

According to the Vienna Institute for International Economic Studies (WIIW), Southeastern Europe is the weak point among European emerging countries.

July 7, 2012

Austria Remains One of the Biggest CESEE Investors

Austria is still an important net investor in Central, Eastern and Southeastern Europe. However, the global importance of the region did not increase.

July 6, 2012

Growth in CESEE Region Flattens Further

The Vienna Institute for International Economic Studies (WIIW) lowers ist forecast for the CESEE region.

July 6, 2012

Euromoney Awards RBI as Best Regional Bank in CEE

Austrian Raiffeisen Bank International (RBI) receives award for the seventh time. For RBI, it is already the third award for RBI as "Best Bank" in CEE in 2012.

July 6, 2012

Active Direct Investments Higher than Passive Direct Investments

Austrian enterprises make more investments abroad than foreign countries do in Austria, Austrian Central Bank announced.

July 5, 2012

CEE Defies Turbulences in the Eurozone

GDP in CEE expected to grow 2.6 per cent in 2012 – eurozone expected to shrink by 0.3 per cent. Growth forecast for Austria’s GDP at 0.7 per cent in 2012

July 5, 2012

Reorganization at UniCredit

The Italian banking group plans to dezentralize its structure. Bank Austria as CESEE hub is affected.

July 5, 2012

CESEE: Poland and Turkey are Hot Spots

Erste Economic Sentiment Indicator CEE: stock market expectations weaker, but still ahead of Eurozone. Turkey and Poland remain the preferred investment regions.

July 4, 2012

IMF: Austria Has Favorable Economic Fundamentals

IMF in Washington DC analyzes Austrian macroeconomic outlook and is satisfied with the consolidation path.

July 4, 2012

Austrian Banks in CESEE „Too Ambitious“

For the IMF, Austria´s economy is „well situated“. The austerity package is „adequate“.

July 2, 2012

Uniqa Completes Sale of Mannheimer Group

The Austrian insurance group Uniqa completed the sale of the Frankfurt listed company Mannheimer AG Holding to Continentale Versicherungsverbund. Growth in CESEE countries should be strengthened.

June 29, 2012

Credit Crunch in CESEE?

Anglo-Saxon banks and funds are most aggressive in deleveraging; Austrian bank are not relying on funding from countries in hotspots of deleveraging.

June 27, 2012

Austrian Banks Affected by European Crisis

Bank Austria´s CEO Willibald Cernko still believes in the common currency. Last year, earnings went down by 14.6%.

June 26, 2012

CESEE: „Nothing Has Changed“

Walter Rothensteiner, CEO of Austrian Raiffeisen Zentralbank, is convinced of the success of the expansion into the CESEE region.

June 26, 2012

Austrian Railways and Hungarian MAV to Cooperate

ÖBB and MAV are said to plan a common expansion strategy in Southeastern Europe.

June 25, 2012

NPL of € 100bn in CEE?

The chairman oft he Viennese Chamber of Labor Werner Muhm asserts that Austrian banks hold non-perfoming loans in CEE ountries. Austrian banks rejected Muhm´s statement.

June 23, 2012

Erste Pursues Downsizing Strategy in Romania

Last month, the Austrian Erste Group closes about 25 bank branches of BCR in Romania.

June 21, 2012

CESEE Banks: Small Exposure in Southern Europe

The riskiness of assets held by CESEE banks is manageable, the U.S. rating agency Fitch says. The CESEE region has closer links to Western Europe than to Southern Europe.

June 20, 2012

Shopping Center Industry Sees Still Growth Potential in CESEE

In 2012, about 300 further shopping centers should be built in the CESEE region. The market still shows a great potential, experts say.

June 20, 2012

VIG to Invest in CEE Real Estate

The Vienna Insurance Group intends to invest more in real estate. „Central and Estern Europe is more interesting for us.“ CEO Peter Hagen says.

June 20, 2012

Uniqa Acquires EBRD’s Interests in Subsidiaries in CESEE

The Austrian insurance group concluded an agreement for the acquisition of EBRD’s interests in subsidiaries in Croatia, Poland and Hungary.

June 20, 2012

Fitch: Positive Statements for Austrian Banks

For the U.S. rating agency, the lending activities of Austrian banks in Eastern Europe is only a minor risk factor.

June 19, 2012

Fitch: Austria´s AAA Not Endangered

According to the U.S. rating agency, Austria´s creditworthiness remains at a high level. Nevertheless, reforms would be needed.

June 19, 2012

RZB Wants to Keep Austrian Deposit Protection

Raiffeisen Zentralbank´s CEO Walter Rothensteiner is skeptical of the European deposit protection proposal.

June 15, 2012

Major Loss at VBI

The Sberbank-owned Volksbank International (VBI) recorded a net loss of € 95.5m last year.

June 15, 2012

Fitch: „AAA Endangered in Case of Greek Exit“

The U.S. rating agency warns the remaining AAA-Eurozone members of the consequences of a Greek exit.

June 13, 2012

Erste Group Manages Bond Issue in Poland

Poland new long 10-year sovereign bond issue had a volume of € 1.5bn. The issue was more than 2x over-subscribed.

June 12, 2012

Hypo Group: The Time is Pressing

Until the end of this year, the Austrian nationalized banks needs an equity quota of 12.0%. This will not be achieved without special measures.

June 11, 2012

Austrian Banks Perform Well in Eastern Europe

The Austrian banks did not overreach themselves in Eastern Europe, the economist Bernhard Felderer says. By contrast, UniCredit, RBI and Erste Group are highly profitable.

June 11, 2012

Austria Promotes Political Cooperation in Black Sea Region

Conference in Tbilisi discusses issues of management of institutional administration and rule of law.

June 11, 2012

Bad Bank for Hypo Group?

The nationalized Austrian bank Hypo Group Alpe Adria considers to create a bad bank in order to avoid further capital injections.

June 8, 2012

„There´s no Crisis in Eastern Europe“

Austrian economists and bankers do not comprehend the downgrade by Moody´s. The risk in Eastern Europe would be more differentiated, OeNB´s governor Nowotny said.

June 8, 2012

CEE Banking Sector „Performs Well“

The Austrian Raiffeisen Centrobank sees high-growth potential in the CESEE region. Loan growth is at „healthy levels“, there are „no signs of a credit crunch“.

June 6, 2012

Downgrade for Austrian Banks

The U.S. rating agency Moody´s downgrades Erste Group, Raiffeisen Bank International and Bank Austria.

June 6, 2012

CEESEG/Ljubljana Stock Exchange: Squeeze-out Proceedings Closed

The CEESEG AG (CEE Stock Exchange Group) would like to announce the successful close of the squeeze-out proceedings concerning the Ljubljana Stock Exchange.

June 5, 2012

Launch of 21st Austria Initiative

The heads of renowned corporations intend to highlight Austria's economic expertise on the international stage with the "21st Austria" initiative.

June 5, 2012

EU Calls on Austria to Accelerate Reforms

Austria has to put more effort in reforms. In the fields of education, labor market, retirement plan and budget consolidation, Austria shows deficits.

June 1, 2012

OeNB Reacts to EU-Commission´s Critique

The EU Commission warned Austria of the big lending exposure in Eastern Europe. According to the Austrian Central Bank, the CESEE region must be seen differantiated.

May 31, 2012

Austrian Business Location: Further Slump in Competitiveness

According to the Swiss Management Institute IMD, Austria only ranks 21th among 59 analyzed countries. The Austrian tax policy is the absolute weak point.

May 31, 2012

Erste Group: Poland and Ukraine Benefit from Euro 2012

EURO 2012 investments helped to boost investments in both countries. € 30.2bn invested whereof approx. 90% spent on infrastructure in Poland & Ukraine.

May 26, 2012

Hypo Group May Need Further State Aid

The directors of the Austrian Financial Market Authority (FMA) did not exclude that the nationalized Hypo Group Alpe Adria has a substantial capital shortfall.

May 23, 2012

Downsizing: Hypo Group Aims to Achieve Proceeds of € 1.5bn

The nationalized Austrian banking group Hypo Group Alpe Adria starts its sales program in SEE countries and wants to achieve proceeds of € 1.5bn

May 21, 2012

Corporate Lending in CEE Remains Stable

According to Bank Austria, financing to the corporate sector is holding up well, but a diverging performance among countries is likely to persist.

May 18, 2012

Merkur Records Stable Profit

The Austrian insurance company could improve its results in 2011. The pre-tax profit showed a slight increase to € 6.9m from € 6.8m.

May 8, 2012
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