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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
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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
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Hungary: Parliament Resolves Bank Act
The Hungarian banking sector, which is dominated by Austrian banks, faces new difficulties.
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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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
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
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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
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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
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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
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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
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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
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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
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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
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