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Italy

Slovenia: Ten Banks under Stress Test

In addition to the country’s three major banks, NLB, NKBM and Abanka Vipa, seven other banks are concerned by the bank stress test.

November 7, 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

Czech Budget Deficit to Remain Below Approved Mark

The budget deficit in the Czech Republic increased to CZK 47.7bn in October from CZK 38.2bn in September.

November 4, 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

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

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

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

Bank Austria Issues € 500m Bond

Bank Austria, part of Italian major bank UniCredit and in charge of CESEE business, is raising money from the capital market.

October 22, 2013

Mitterlehner: “2014 Will Become Significantly Better“

Austrian Minister for Economy Reinhold Mitterlehner considers the Austrian economy to be in a spirit of optimism as an upturn in Europe has become evident. According to him, 2014 is supposed to become “significantly better” than 2013.

October 17, 2013

Eurozone: Banking Union Approved

From autumn 2014 on, the European Central Bank (ECB) will directly supervise 130 major banks within the Eurozone.

October 16, 2013

Russian and Ukrainian Oligarchs Interested in RBI’s Affiliate

The Ukrainian affiliate of Raiffeisen Bank International (RBI), Bank Aval, has become the object of desire for Russian billionaire Fridman and Ukrainian banker Lagun.

October 15, 2013

HVB: UniCredit Considers IPO

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

October 14, 2013

Austria Remains Main Investor in Slovenia

Last year, almost the half of the foreign direct investments in Slovenia came from Austria.

October 11, 2013

UK: Growth Potential in CESEE

According to the IMF, the UK economy is not diversified sufficiently. Now, UK promotes exports to the CESEE region.

October 5, 2013

UniCredit Toying With Idea of Take-Over in Poland

Italian bank UniCredit considers to extend business at the growing Polish market by a take-over.

October 3, 2013

Moody’s Honors Austrian Banks in CESEE

Only a year ago, the rating agency downgraded Austria because of its banks’ engagement in Eastern Europe. However, the situation has changed to the better.

October 3, 2013

Austrian Industry Continues Upward Trend

Developments in Austria follow the European trend.

September 30, 2013

RZB: Leasing Segment Proves Difficult

Last year, the leasing subsidiary of Raiffeisen Zentralbank (RZB) has recorded massive losses. In the next years, the leasing business will not return to profitability.

September 28, 2013

Raids at Ukrainian Affiliate of Bank Austria

Ukrsotsbank in Kiev was searched on Friday due to unclear ownership structures of non-performing loans which led to disputes between banks and clients. Within the Unicredit Group Bank Austria is responsible for banks in Eastern Europe.

September 25, 2013

Head of Slovenia’s Chief Bank Arrested

Janko Medja, manager of Slovenia’s most important bank NLB, was arrested because of suspicion of corruption.

September 20, 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

Bank Austria Considers Establishing Franchise Banks in Austria

The streamlining of the CESEE network of Bank Austria seems to take on a very concrete form now.

September 16, 2013

Croatia, Slovenia and Italy in Favor of Closer Cooperation

Italian, Croatian and Slovenian PMs push for stronger cooperation.

September 16, 2013

VIG: Downsizing Business in Italy

Donau Versicherung, affiliate of VIG, has to make provisions in the amount of € 35m.

September 10, 2013

Hypo: New Risky Loan Agreements Even in 2012

According to the EU Commission, risky loans were granted by ailing Hypo Group even in 2012.

September 3, 2013

Hypo Group Considers IPO

The Austrian nationalized bank takes an IPO of its Eastern subsidiaries into account.

August 31, 2013

Hypo: Half-Year Results Expected August 28

In order to be able and balance, nationalized Hypo Group required € 700m in capital by the Austrian state.

August 27, 2013

Austrian Division of Hypo Alpe Adria Managed to Turn A Profit

In the past half year the Austrian division of nationalized bank Hypo Group made small profits.

August 20, 2013

Slovenia to Expand Bank Stress Test

Instead of formarly three, ten banks are now supposed to be subjected to a stress test. Results are expected until the end of the year.

August 19, 2013

Austria: Kranebitter to Leave Hypo Group

After three and a half years, Gottwald Kranebitter steps back as CEO of nationalized Hypo Alpe Adria. Tax payers are left with a burden running in the billions in the years to come.

August 19, 2013

Romania: Significant Drop in Purchase Power

General consumption climate is unfavorable in Europe at the moment.

August 12, 2013

Commerzbank: Austria to Miss Budget Goals

Without a new austerity package, Austria will run up more debts than calculated in the bugdet plan, German Commerzbank says. The country’s AAA ratings are likely to decrease.

August 12, 2013

Leitl: Positive Export Development Despited of Economically Difficult Times

The Austrian economy should, according to the President of WKO, focus export growth in third countries and distant markets.

August 10, 2013

Austria: Banks Indignant At Chancellor Faymann

Chancellor Werner Faymann has started the election campaign with an attack against the banks. However, CEO of Bank Austria Willibald Cernko points out that the banking industry secures 70,000 jobs in Austria.

August 9, 2013

Hypo: New CEO at Italian Affiliate

Marco Gariglio appointed new General Manager of Hypo Alpe Adria Bank S.p.A.

August 8, 2013

UniCredit: No Withdrawal from Hungary

CEO of UniCredit Federico Ghizzoni has rejected rumors about disengagement plans from Hungary.

August 7, 2013

Loan Loss Provisions Impede Higher Profits for Bank Austria

Results for the first half of 2013: Bank Austria posts net profit of EUR 566 million for the first half of 2013.

August 7, 2013

Moody´s Downgrades Austrian Verbund

The rating agency lowers the rating of the Austrian energy group from „A3“ to „Baa1“.

August 2, 2013

Austria: Verbund to Take Austerity Measures

Only a few months ago, CEO of Verbund Wolfgang Anzengruber promised that “2013 will become the best year in the company’s history”. However, there have been bad news for the energy company ever since.

August 1, 2013

Two Interested Parties for Hypo Alpe Adria Italia

Two investors have shown their interest for the take-over of Italian affiliate of nationalized Hypo Alpe Adria. Banca Popolare di Vicenza and a British-Indian Group are claimed of being interested.

July 29, 2013

Hypo Group: Massive Losses in Italy

The Italian affiliate of Austrian problem bank Hypo Alpe Adria has notched up considerable losses.

July 25, 2013

Hypo Group: Current Capital Injection Not Enough

Klaus Liebscher, head of the supervisory board of the nationalized Austrian problem bank, thinks that the Ministry of Finance will have to inject further money.

July 23, 2013

Hypo Group Needs Even More Money

The nationalized Austrian bank needs fresh funds of more than € 700m. For the Austrian taxpayers, the banking package becomes more and more costly.

July 21, 2013

Austrian Industrial Sector Fears Drop in Exports

In the first five months of 2012, Austrian exports were only up by 3%. The outlook is rather gloomy. The Austrian Chamber of Commerce demonstrates pessimism.

July 18, 2013

Moody´s Cuts Bank Austria´s Rating

According to the U.S. rating agency, the creditworthiness of the biggest Austrian bank has worsened. The expansion program in Russia and Turkey is seen as significant risk factor.

July 16, 2013

RBI Plans on Reconstructing Branch Banks

The new concept of Karl Sevelda, successor of former CEO Herbert Stepic, is becoming clearer. He has inherited the task to reconstruct the capital of Basel-III.

July 15, 2013

Bank Austria to Close 67 Subsidiaries

UniCredit Affiliate Bank Austria plans to close 67 subsidiaries – a quarter of its 270 stores for private costumers until 2015.

July 3, 2013

EU Commissioner Open for Extension of Deadline for Hypo Group

EU Competition Commissioner Joaquin Almunia presented himself open to the extension of the winding-down of Hypo Group.

July 3, 2013

Fekter: Kranebitter „Weary of Office“

Hypo CEO Kranebitter resigns and settles a score with the Finance Ministry in an open letter. He decided to step back after three and a half years because “major parts of the work were damaged”.

July 3, 2013
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