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Downsizing

Liebscher: Government Is to Blame

Head of Hypo Group’s Task Force Klaus Liebscher rejects being turned into the scapegoat of delaying important decisions about the downsizing of the problem bank. Instead, he points his finger to the Austrian government.

February 20, 2014

EU Commission to Examine Slovenian Bank Restructuring Plan

Slovenia has sent the restructuring plan for its third largest bank, Abanka Vipa, to the EU Commission.

February 20, 2014

Picker: Hypo to Cost Taxpayers “Only” up to € 4bn

According to CEO of Hypo Group Alpe Adria Picker, the ailing bank will burden taxpayers with “only“ € 4bn at the most. Head of IHS, Keuschnigg, warns the Austrian policy-makers of forwarding costs to bondholders.

February 19, 2014

Austria: Moody’s Downgrades Four Bonds

Moody’s downgraded four bonds of Austrian banks on Tuesday. The outlook is negative.

February 19, 2014

Austria: Still No Clarity in Hypo Group Disaster

The Austrian parliamentary parties continue to shift the blame onto each other. Details still have not been presented yet.

February 17, 2014

Government Downplaying Effects of Hypo Group Desaster

Today, both Chancellor Werner Faymann and Finance Minister Michael Spindelegger had to explain their actions in regard to Hypo Group Alpe Adria in parliament.

February 17, 2014

EU Puts Limit to State Aids for Hypo Group

So far, € 4.8bn in capital aids had to be injected into ailing bank Hypo Group Alpe Adria. According to an EU statement, the Austrian state is only permitted to spend € 3.65bn on Hypo Group.

February 14, 2014

Ukraine: Tough Market for Foreign Banks

The coming two years will be challenging for foreign banks operating in Ukraine.

February 11, 2014

Austria: Hypo Group Becomes Fiasco for Taxpayers

The most expensive solution for the winding up of troubled Hypo Group becomes imminent.

February 11, 2014

Austria: Bank Participation for Hypo Off

A participation model with Austrian banks can be ruled out for ailing Hypo Group. Instead, a more expensive version will be applied.

February 10, 2014

FMA: Hypo Group Bankruptcy Incalculable Risk

The government does not dismiss the idea of a bankruptcy of ailing Hypo Alpe Adria. However, the Financial Market Authority (FMA) has expressly warned of this form of downsizing of the state bank.

February 10, 2014

Sale of Bad Assets: UniCredit Under Pressure

The parent company of Bank Austria, the Italian lender UniCredit, wants to sell its risky assets as soon as possible. Insiders report that UniCredit wants to sell its “bad bank”.

February 8, 2014 · Updated: February 8, 2014; 14:12

Austrian Government Skirting around Decision over Hypo

A paper reporting about the four options for downsizing Hypo Group has not been published by the government yet.

January 31, 2014

Austria: Government Makes € 1bn for Hypo Group Available in Budget

Nationalized problem bank Hypo Group Alpe Adria has listed a need for state subsidies in the amount between € 400m and € 900m in this year’s downsizing plan.

January 29, 2014

Austria: Opposition Presses for Information

The Austrian Greens demand information in regard to problem bank Hypo Group Alpe Adria.

January 28, 2014

Austria: Bank Particpation Still Uncertain

It is still unclear whether the Austrian banks will participate in a downsizing construction of Hypo Group. First results will be presented in February

January 28, 2014

NLB Closing Moscow Office

The step is part of the restructuring and downsizing procedure.

January 27, 2014

Nowotny: “We Want Clarity“

The governor of the Austrian National Bank presses the government for swift actions to find an acceptable downsizing solution for Hypo Group. Further steps will only be made in February.

January 27, 2014

Slovenia: NLB Facing Downsizing Measures

Slovenian NLB is facing severe downsizing measures. As part of the restructuring process, the country’s biggest bank has to lay off personnel.

January 24, 2014

Slovenia: Bank Losses Tripled in 2013

Over the last year losses in the banking sector tripled to almost € 1.1bn.

January 23, 2014

Hypo Group: Decision Within First Quarter of 2014

The long-awaited meeting between the government and Hypo Group’s taskforce has been fixed to find a solution of the Austrian problem bank. The option of a bank participation is still on top of the list.

January 23, 2014

Austria: Nowotny Calls for Fast Decision on Hypo Group

The Governor of the Austrian National Bank (OeNB) presses the government to act quickly and avoid further straining the budget and burdening the taxpayers.

January 21, 2014

Austrian Banks to Resist Further Burdens?

Podium discussion at Viennese law firm Binder Grösswang.

January 20, 2014

Austria: Hypo Group Looking for New CRO

Deputy CEO and chief risk officer of Hypo Group Wolfgang Edelmüller will resign as of the end of February.

January 10, 2014

Growing Evidence for RBI’s Withdrawal from Hungary

According to media reports, Hungarian partly nationalized Szechenyi Commercial Bank has placed an offer for the take-over of RBI’s Hungarian affiliate.

January 7, 2014

Hungary: MKB Bank Sells Romanian Subsidiary

As announced in a statement Hungarian MKB Bank has sold its entire stake of its Romanian subsidiary.

January 3, 2014

Slovenia: Fresh Money for Major Banks

Bonds of BAMC (Bank Asset Management Company), Slovenia’s bad bank, will be traded on Friday for the first time. The bonds will be forwarded to the country’s biggest banks in return for their bad loans.

December 27, 2013

Austria Bought Time for Examining Hypo Deal

Austria was granted more time for a possible appeal of the purchase of problem bank Hypo Group Alpe Adria from former parent company BayernLB.

December 23, 2013

Austria: Options of Bad Bank for Hypo under Examination

Finance Minister Spindelegger intends to meet with experts to discuss options of a bad bank for Hypo Group Alpe Adria.

December 20, 2013

Slovenia: EU Commission Approves Bank Aid

On Wednesday the European Commission has approved state aid for five Slovenian banks.

December 19, 2013

Slovenia: Three Arrestments at NLB

According to Slovenian authorities, three persons in the bank’s environment were arrested because of alleged malpractice.

December 18, 2013

Hypo Group: Take-Over Almost Completed

British-Indian Anadi Financial Holding had to wait for months until the take-over of Austrian Hypo Group Alpe Adria was approved.

December 18, 2013

BayernLB to Keep Hungarian MKB Unit

BayernLB’s plans to seperate from loss-making Hungarian affiliate MKB were not put on hold. Instead, the German bank wants to continue to push forward with austerity measures and cut jobs.

December 14, 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

RBI Faces Austerity Measures.

Raiffeisen Bank International (RBI) does not take into consideration capital increase.

November 27, 2013

Austria: Cernko Favors Participation in Bad Bank

CEO of Bank Austria Willibald Cernko is in favor of Austrian banks participating in a bad bank for Hypo Group Alpe Adria.

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

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

“Bank Aid for Hypo Group Is too Late“

The Austrian economist Franz Hahn argues that capital injections into Hypo Group Alpe Adria are ineffective.

November 16, 2013

VBAG: Capital Requirement up to € 1.0bn

The partially nationalized Austrian bank needs further capital injections next year.

November 16, 2013

Hypo Bad Bank Not to be Established Before 2014

Insiders do not expect the downsizing unit for state-owned Hypo Group Alpe Adria to be established before 2014.

November 15, 2013

Austria: Bad Bank For Hypo As Good As Guaranteed.

Chancellor Faymann and Deputy Chancellor Spindelegger are in favor of creating a bad bank for Hypo Group.

November 14, 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

Austria: Downsizing Options for Hypo Group under Discussion

In the discussion about establishing a downsizing unit for ailing bank Hypo Group Alpe Adria, several possibilities are taken into account.

November 12, 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

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

Hypo Group to be Renamed after Sale

After the closing of the sale future owner of Hypo Group Alpe Adria Sanjeev Kanoria from the UK with Indian origins intends to rename Hypo Group.

October 31, 2013

Greek Banks Want to Leave Western Balkans

According to “Kathimerini”, the exit of Greek banks froms the Western Balkan region is a difficult undertaking.

October 29, 2013

German Rail Manufacturing Plant of Voestalpine to be Closed

At the end of October voestalpine will shut down its rail manufacturing plant TSTG Schienen Technik GmbH & Co KG in Duisburg, Germany.

October 21, 2013

RBI Considers Participation in Hypo Group’s Bad Bank

In a radio interview with “Ö1”, Karl Sevelda, CEO of Raiffeisen Bank International (RBI), announced that he regards a particpation of his bank as possible.

October 18, 2013