Page 3/10

Capital Markets

Cernko: Bank Shops in Austria Have to Be Reduced

In spite of the banks’ progresses Austria still has a high densitiy in bank branches.

October 30, 2013

IMF on Slovenia: “Cleaning Up Banks is the Priority”

The IMF urges Slovenia to restructure its ailing banking sector. Slovenia faces expensive bank aid-programs.

October 29, 2013

Banking Sector: Pressure on Slovenia Grows

The IMF calls Slovenia to re-capitalize the banking sector immediately. However, Slovenia´s financial situation is already more than tense.

October 29, 2013

Hungary: Junk Rating Remains

S&P has reiterated Hungary´s sovereign debt rating. Further cuts are not unlikely.

October 28, 2013

Slovenia: Bailout Comes Closer

The ailing country is not expected to manage the financial crisis on its own. Calling for support from Brussels seems to be the last remaining alternative.

October 28, 2013

S&P Warns of Further Downgrade

The rating agency has kept the “AA+” rating. However, Austria has to put more effort into austerity measures, the rating agency stresses.

October 26, 2013

Telekom Austria: Massive Capital Increase Ahead

In order to implement its expansion strategy, the Austrian telecommunication group will carry out a capital increase next year. In total, the capital requirement comes at € 1.0bn.

October 25, 2013

Life Insurance Industry Under Pressure

For the insurance industry, life insurance products become less and less profitable.

October 24, 2013

Czech Republic: Four Banks too Big to Fail

CNB has determined four domestic banks that could potentially endanger the country’s financial system in case of bankruptcy, as reported by daily “Hospodarske noviny” (HN).

October 24, 2013

Serbia: Komercijalna Banka Supported by EFSE

Serbian Komercijalna Banka received a credit line of € 20m from the European Fund for Southeast Europe (EFSE).

October 24, 2013

Stress Tests: Austrian Banks Demonstrate Optimism

Austrian banks are expected to pass the stress tests. However, the next years are expected to become challenging for the Austrian banking sector.

October 23, 2013

Bulgaria: FDI Inflow Shrinks Drastically

In the first eight months of 2013, foreign direct investments fell by more than 51%. Without impulses from foreign investors, the country will not return to growth.

October 21, 2013

Croatia: EU-Membership Did Not Help Yet

In the first months of its EU membership, the situation in Croatia´s industrial sector deteriorated further.

October 19, 2013

IMF Warns of Financial Instability in CESEE

Due to the high non-performing loan quota and the deleveraging of Western banks, the countries of Central, Eastern and Southeastern Europe are still far from financial stability.

October 18, 2013

Experts Urge Serbia to Accelerate Austerity Measures

It is still questionable whether the austerity measures announced by the Serbian government are sufficient.

October 15, 2013

„CESEE Is Not the Devil Anymore“

Regarding the development of the CESEE equity market, Birgit Kuras, CEO of Vienna Stock Exchange (VSE) demonstrates optimism.

October 14, 2013

RBI May Pay Back State Aid Sooner

For Austrian Raiffeisen Bank International, the state aid becomes more and more expensive. The repayment will take place before 2017, insiders report.

October 14, 2013

HVB: UniCredit Considers IPO

Bank Austria´s holding company UniCredit may sell a minority stake in Germany HVB.

October 14, 2013

Moody’s: Poland Threatened by Outflow of Foreign Funds

Rating agency Moody’s evaluates the country being moderately exposed to the risk of foreign outflows.

October 14, 2013

Romania Keeps Majority Stake in Romgaz

Romania´s government will privatize 15% of the country´s biggest natural gas producer. The opening of the economy to foreign investors bears potential dangers.

October 12, 2013

Hungary: Borrowing Costs Decline

Yields on Hungarian sovereign bonds reached an all-time low. However, a rebound in 2014 is rather probable.

October 12, 2013

IMF: „Banks and Companies in a Vicious Circle“

Not only Greece, Spain or Portugal are struggling with a financially stricken banking sector. In Southeastern Europe, the situation is quite similar.

October 11, 2013

Austria: Venture Capital Market is Underdeveloped

According to the Austrian Institute of Economic Research (WIFO), more funds for start-up enterprises would help boosting the economy.

October 11, 2013

Uniqa: Re-IPO Successful

The second-biggest Austrian insurance group goes public again. According to insiders, the order books are closed.

October 9, 2013

Serbia: IMF as Last Exit

After unsuccessful negotiations in spring, Serbia is forced to ask the IMF for financial support. The fiscal policy is not the only weak point of the Balkan country.

October 8, 2013

Hungary: Easing Cycle Nears Its End

After the interest cut last week, there is still downward potential. However, MNB must be cautious, Hungary´s rate setter Gyula Pleschinger told WSJ.

October 4, 2013

Raiffeisen Research: CESEE Deserves Better Credit Ratings

Analysts of Raiffeisen Research think that Austria´s sovereign debt rating is worse than the rating agencies say. The CESEE region, by contrast, is seen too critically, Raiffeisen Research argues.

October 4, 2013

CESEE: Recovery Slow, but Stable

Corporate sentiment improving in major CEE countries as well, as the economic recovery begins to take root. Low point in interest rates has essentially been reached, rises in yields to follow trends in the developed markets, RZB says.

October 4, 2013

COO Daniel Riedl appointed CEO of BUWOG

The 20th Annual General Meeting (AGM) of IMMOFINANZ AG, Daniel Riedl was appointed as CEO of the subsidiary Buwog. Riedl will prepare Buwog´s IPO.

October 3, 2013

Croatia Tries to Avoid Bail-Out by IMF

The 28th EU member country has severe fiscal problems. In order to avoid the IMF, Croatia borrows about $ 1.5bn on the U.S. market.

October 2, 2013

Poland: Pension Scheme Reform to be Eased

At the beginning of September, Poland´s government decided to re-nationalize the pension system. Now, the government considers relativizing the reform.

September 28, 2013

Austria: Fitch Confirms Triple A

Austria´s main weak point is the banking sector, the rating agency criticizes.

September 28, 2013

Hungary is Seeking New Creditors

The Hungarian public debt agency AKK intends to sell more sovereign bonds in Asia. Compared to other European countries, Hungary´s debt burden causes severe difficulties.

September 27, 2013

Does Austria Need Further Privatizations?

Voestalpine´s CEO Wolfgang Eder wants to support the Vienna Stock Exchange. Without further privatizations, the stock market in Vienna could be history soon.

September 24, 2013 · Updated: September 25, 2013; 11:30

Croatia to Issue Dollar Bonds

In order to cover its foreign exchange needs, Croatia will issue a dollar bond with a size of $ 2.7bn.

September 24, 2013

Uniqa Starts Major Capital Increase

The second-biggest Austrian insurance group resolves on capital increase and announces price range. Proceeds will reach about € 750m.

September 23, 2013

Poland: Warsaw Stock Exchange to Introduce WIG30

The new index covers thirty enterprises instead of formerly twenty and reduced the dominance of the banking industry.

September 23, 2013

Further Nationalizations in Hungary?

In order to acquire further foreign-owned bank and energy companies, Hungary issues new sovereign bonds.

September 23, 2013

Bank Austria to Close Subsidiaries in Hungary

Because of higher costs caused by a tax on financial transaction, which was introduced during the current year, the affiliate of Italian UniCredit intends to downsize operations in Hungary.

September 19, 2013

CESEE Banking: Funding Improves

Regarding the stability of the banking system in the CESEE region, there are still substantial differences between the countries.

September 18, 2013

Hungarian National Bank to Use Foreign Currency Reserves

In order to support Hungarian homeowners, MNB (Hungarian National Bank) sells a part of its forex-reserves.

September 15, 2013

Austrian Banking Sector: Profitability Below Potential

Not only the high NPL quota in the CESEE region, but also the overcapacity in Austria is a burden for the domestic banking industry.

September 14, 2013

Boom in CESEE Will not Return

In the next years, the growth rates of the pre-crisis will not come back in the CESEE region. For the banking industry, the region is still a substantial risk factor.

September 14, 2013

Austria Requires More Risk Capital

On an international level, the risk capital investments in domestic enterprises are low at only 0.04 percent of GDP.

September 12, 2013

Hungary: Monetary Easing Policy to be Continued

Hungary´s National Bank MNB has decided to extend the “lending for growth” program until 2014. In total, the program´s volume comes at € 7.0bn.

September 12, 2013

Austria: Enormous Amounts Could Pile Up For Hypo Group

According to Austrian daily “Standard“, the winding down of the ailing bank Hypo could be even more expensive than assumed so far. The amount of required capital reanges between € 6.2bn (until the end of 2014) and € 17bn (until 2017).

September 11, 2013

€ 800m for Uniqa´s Re-IPO

The second-biggest Austrian insurance group plans has ambitious growth plans. The capital increase will bring a substantial change in Uniqa´s shareholder structure.

September 9, 2013

Poland: Re-Nationalization of Pension Scheme

Poland takes back the partial privatization of pension system. The re-nationalization does not affect Poland´s sovereign debt rating.

September 7, 2013

„Demand for Loans Will Grow“

In an interview with „Wirtschaftsblatt“, Vice-President of EIB (European Investment Bank) Wilhelm Molterer indicates that banks may not be prepared for an increasing demand for loans.

September 6, 2013

Hungary: New Threats for Foreign Banks

Hungary´s government is determined to convert foreign exchange loans at the expense of banks again.

September 6, 2013