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Germany

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

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

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

CA Immo to Construct New Office Building in Berlin

Europacity Berlin: Rental and start of construction for new office building in Berlin

December 12, 2013

No Major Progresses in Banking Union

Tuesday night the Finance Ministers of the European Union have gradually approached on the outstanding issues in the handling with banks threatened by bankruptcy.

December 11, 2013

S Immo AG: Disposal Target for 2013 Exceeded

S Immo sold a further five properties.

December 11, 2013

Former Kazakh Embassador Facing Trial in Austria

Rachat Alijew is facing prosecution in Austria because of alleged money laundering. Moreover, a former Austrian Chancellor is suspected of spying.

December 10, 2013

Poland: Interest Rate to Remain at Record Low

In the first half of 2014, the National Bank of Poland (NBP) will not alter the reference rate, economists say.

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

OTP Interested in MKB

Sandor Csanyi, CEO of the largest Hungrian lender OTP, considers taking over the rival MKB.

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

Hypo Alleged of Having Hoarded Assets of Former Serbian Regime

A Serbian NGO suspects assets of former Serbian President Slobodan Milosevic at Hypo Group Alpe Adria. The Austrian bank strongly rejects this allegation.

December 6, 2013

CA Immo Closes Sale of Hesse Portfolio

The closing of the sales transaction is completed.

December 6, 2013

Austrian Insurance Companies to Grant Credits

The Financial Market Authority has given green light to Austrian insurance companies for handing out loans. Insurers hope for an improvement in investment income.

December 4, 2013

Austria: Insolvency of Hypo Group Still an Option

Both the center of government and the Austrian National Bank (OeNB) reject Hypo Group’s bankruptcy. However, insolvency options are currently being assessed by the Finance Ministry and the Federal Law Office.

December 4, 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

Germany Claims Key Positions at EU Banking Regulator

The German federal government claims one key position in the European banking regulator.

November 28, 2013

New CEO at conwert

Today, the Austrian real estate group has presented its new chief executive officer to the public. As of February 1, Clemens Schneider will manage conwert.

November 27, 2013

EU Financial Transaction Tax to Become a Flop?

Experts do not expect the financial transaction tax to become effective next year.

November 27, 2013

Immofinanz to Enlarge Buwog’s Portfolio

Austrian real estate company Immofinanz plans on acquiring a large portfolio in Germany. The purchase price of around € 900m is supposed to be raised by the company itself.

November 26, 2013

WKO: Better Framework Conditions for SMEs

Small and medium sized enterprises (SMEs), with between 10 to 249 persons employed, are a driver of the European economy, creating jobs and contributing to economic growth. WKO calls for better framework conditions for SMEs.

November 26, 2013

Hypo Investigations Could Last Several More Years

Yesterday the first court proceeding at the Regional Higher Court in Munich started. Investigations in Austria will take up to four years.

November 26, 2013

Germany: Austrian Real Estate Enterprises under Pressure

Austrian real estate companies have invested hundreds of millions Euros in apartments in Germany since yields are around 30 percent higher; however the German government plans on putting a hold to the upward trend.

November 25, 2013

BayernLB Lodges Claim of Almost € 5bn

The value in dispute in the legal discussions between German BayernLB and fromer affiliate Hypo Group Alpe Adria runs up to almost € 5bn.

November 25, 2013

Eurozone: Nouy New Manager of ECB’s Banking Suvervision

Daniele Nouy will become the new head of the ECB’s banking supervision.

November 21, 2013

Buwog Aquires Portfolio in Berlin

Buwog has once more acquired apartments at the German real estate market.

November 20, 2013

Hungary: Banks Penalized for Lobbying

The Hungarian competition authority GVH has imposed a penalty running in the millions on domestic and foreign banks.

November 20, 2013

Austria: High Tax Country

According to the new tax report of PrinceWaterhouseCoopers (PwC), the tax burden in Austria is ten percent higher than the average tax rate in the European Union and even beats Sweden.

November 19, 2013

Banking Union: No Progress

The EU countries could not agree on a common bank resolution mechanism yet. Once more, the pressure on Berlin is growing.

November 16, 2013

BayernLB: “Hypo Not Willing to Pay“

Because of the legal dispute with Austrian problem bank Hypo Group Alpe Adria, former German parent company BayernLB announced not to increase its risk provision.

November 13, 2013

Buwog to Expand Massively in Germany

Buwog, wholly-owned subsidiary of Vienna-listed Immofinanz, prepares the acquisition of a large real estate portfolio in Germany.

November 7, 2013

Austrian Banks Forced to Prepare in Case of Bankruptcy

From 2014 on, the Austrian Banks are required to start planning the emergency scenario in case of a liquidation in order to be able and react more quickly.

November 7, 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

Slovenia: Highest Contribution of GDP to ESM

As reported by Slovenia Times, the country has spent 2.8 percent of GDP for the Euro Stability Mechanism (ESM) last year.

November 4, 2013

Boost for Municipal Infrastructure in the Western Balkans

EBRD and KfW launch new €100 million fund

November 4, 2013

Higher Cost Pressure for Austrian Banking Industry

Due to national and international regulations, Austrian banks have to bear higher costs than their foreign competitors.

October 31, 2013

Austrian Industrial Sector Gaining Stability

The upwards trend in Austrian industry picked up pace in October. Highest survey reading for two years signals clear pick-up of industrial activity

October 30, 2013

Austrian Banking Sector: NPL at Eurozone´s Top

In the Eurozone, the non-performing loans are still growing. In total, 7.8% of the loan portfolio is risky. Austrian banks are significantly above the average.

October 30, 2013

Romania: Taxes Expected to Be Raised

The local press reports that numerous anonymous sources from the larger ruling party say that the executive is considering a hike in profit and income tax.

October 28, 2013

Germany: Proceedings against Take-Over of Hypo Group to Start

On Thursday the Higher Regional Court in Munich has decided to admit the prosecution against the take-over of Hypo Group Alpe Adria, which had earlier been rejected by the Regional Court as implausible.

October 28, 2013

Hypo Group: Worst Expectations May be Exceeded

For the Austrian state, the ailing nationalized banking group may become a financial GSA. The legal dispute with the former owner BayernLB bears enormous dangers for Austria´s public finance.

October 25, 2013

Life Insurance Industry Under Pressure

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

October 24, 2013

“We Need to Pull Down the Iron Curtain in Our Heads“

In an interview with Austrian daily “WirtschaftsBlatt“ Johannes Seiringer, Director of the Austrian office of the European Bank for Reconstruction and Development (EBRD) calls for incentives for enterprises to continue investing in CEE.

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

Amazon to Open Distribution Centers in the Czech Republic

The world’s largest online retailer Amazon plans to create 10,000 jobs in the Czech Republic within the next three years.

October 22, 2013

Eurozone: Economy Starting to Grow

Experts at Ernst&Young; forecast economic growth of 0.9 percent in 2014 in consequence of an improved global economic performance.

October 21, 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

Conwert Changes Strategy

The Vienna-listed real estate group will strengthen its portfolio in Germany. Moreover, conwert faces a change in leadership.

October 20, 2013

CESEE Region Suffers from Migration

The countries of Central, Eastern and Southeastern Europe are confronted with a highly unfavorable demographic trend. The brain-drain is expected to persist.

October 17, 2013