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KA Finanz

Austrian Financial Market Authority approves organisation as a run-off company pursuant to section 162 of the Austrian Bank Recovery and Resolution Act - banking licence expires

With reference to the ad-hoc announcements dated 26 April 2017 and 8 June 2017, KA Finanz AG (KF) announces that the Austrian Financial Market Authority (Finanzmarktaufsicht) approved today that KF will operate permanently as a run-off company (Abbaugesellschaft) pursuant to section 162 of the Austrian Bank Recovery and Resolution Act (Bundesgesetz über die Sanierung und Abwicklung von Banken, BaSAG).

September 6, 2017

KA Finanz - Interim result 2017: Portfolio runoff continued

KA Finanz AG (KF) continued its active portfolio management throughout the first half of 2017. Besides scheduled maturities and redemptions, KF further pursued the focused runoff of its portfolio, with due consideration given to potential recoveries and minimising the input of capital resources. KF's total exposure was reduced by EUR 0.9 billion to EUR 8.7 billion in the first half of 2017 (31/12/2016: EUR 9.6 billion). The average rating remained unchanged at A, with the non-performing-loan (NPL) ratio standing at 0.2%.

August 18, 2017

KA Finanz AG / Half-year financial report according to art. 87 para. 1 Stock Exchange Act

KA Finanz AG is declaring the following financial reports below.

August 18, 2017

KA Finanz AG / Supervisory board approves refinancingframework with ABBAG

With reference to the ad-hoc announcement dated 26 April 2017, KA Finanz AG (KF) announces that the supervisory board of KF today approved the conclusion of a framework agreement with ABBAG - Abbaumanagementgesellschaft des Bundes (ABBAG), which is solely owned by the Republic of Austria, for the future refinancing of KF by ABBAG.

June 8, 2017

KA Finanz AG - Supervisory board authorises management board to negotiate a refinancing facility witth ABBAG

Supervisory board authorises management board to negotiate a refinancing facility with governmental ABBAG - first step towards the potential handing back of banking licence and constitution of the company as a "run-off company" in accordance with the BaSAG (Austrian Banking Restructuring and Resolution Act)

April 26, 2017

KA Finanz AG / Result for the year 2016: Active portfolio wind-down continued

KA Finanz AG (KF) continued to actively manage its portfolio throughout 2016. Apart from scheduled maturities and redemptions, KF continued to focus on targeted wind-down measures, always with a view to a potential reversal of impairments and a minimum outflow of capital resources.

April 3, 2017

KA Finanz AG / Disclosure notifying a Standard & Poor's (S&P) ratingfor covered bank bonds

KA Finanz AG, Companies Register number 128283b (KF), referring to its ad-hoc disclosure of 12 November 2015, herewith notifies that Standard & Poor's (S&P) Rating Agency today published a rating of "AA-, with a stable outlook" for the covered bank bonds (public sector covered bonds) listed below.

March 4, 2016

KA Finanz AG / New bond issues

Issue of Notes of KA Finanz AG.

November 24, 2015

KA Finanz AG / Notification of termination of theover-collateralisation agreement as a result of the termination of Moody'srating regarding the covered bank bonds taken over by KA Finanz AG fromKommunalkredit Austria AG by way of the merger

KA Finanz AG, Commercial Register number FN 128283b (KF), referring to its ad-hoc announcements dated 25/09/2015 and 16/10/2015, herewith informs that Moody's Rating Agency today communicated the termination of its rating of those covered bank bonds (as listed below) which were transferred to KF by way of the merger of Kommunalkredit Austria AG "Old" (KA Old) into KF as of 26/09/2015.

November 12, 2015

KA Finanz AG / Notification concerning the over-collateralisationagreement in respect of the covered bank bonds taken over from KommunalkreditAustria AG by way of the merger

KA Finanz AG (KF), Commercial Register number FN 128283b, referring to its ad-hoc disclosure dated 25/09/2015, herewith notifies that the contractual provisions agreed upon on 27/01/2011 concerning the covered bank bonds listed below (28% nominal over-collateralisation in the cover pool) remain in effect.

October 16, 2015

KA Finanz AG / Implementation of merger according to ad-hoc

KA Finanz AG (KF), referring to its ad-hoc disclosures dated 11/08/2014, 13/03/2015 and 26/06/2015, notifies about the implementation of merger and demerger.

September 25, 2015

KA Finanz AG / New bond issues

Issue of Notes of KA Finanz AG

September 10, 2015

KA Finanz AG / New bond issues

Name of Notes: EUR 1,000,000,000 0.375% KA Finanz AG Fixed Rate Notes due 2020, unconditionally and irrevocably guaranteed by the Republic of Austria.

August 5, 2015

KA Finanz AG / Merger as notified through ad-hoc

KA Finanz AG (KF), referring to its ad-hoc disclosures dated 11/08/2014 and 13/03/2015, in which the partial sale of Kommunalkredit Austria AG (KA) and the preceding demerger of the entire business operations of KA (incl. all its subsidiaries) with parts of its assets and liabilities by way of a proportionate demerger into a newly incorporated company (KA New) were announced, as well as based on the decisions taken by the Supervisory Board today, 26/06/2015, notifies the following..

June 26, 2015

KA Finanz AG / Possible future absorption of parts of the assets and liabilities of Kommunalkredit Austria AG in accordance with ad-hoc announcementdated 11 August 2014

FIMBAG, the joint shareholder of Kommunalkredit Austria AG (KA) and KF, has signed a share purchase agreement with a buyer consortium, consisting of the English Interritus Limited, initiated by Dr. Patrick Bettscheider, and the Irish Trinity Investments Limited, managed by the London-based asset manager Attestor Capital LLP, (Consortium), providing, inter alia, for the following..

March 13, 2015

KA Finanz AG / New bond issues

Issue of Notes of KA Finanz AG. Name of Notes: KA Finanz AG EUR 50,000,000 Puttable Floating Rate Notes 2014 - 2016.

October 13, 2014

KA Finanz AG / Possibility of future partial absorption of the business of KommunalkreditAustria AG

Finanzmarktbeteiligung Aktiengesellschaft des Bundes (FIMBAG), the common shareholder of Kommunalkredit Austria AG and KA Finanz AG, will by way of a public call for tenders invite potentially interested parties to submit expressions of interest for a partial sale of KA in accordance with the EU's amending decision.

August 11, 2014

Austrian Public Debt Almost at 80% of GDP

The Austrian public debt burden will reach a new all-time high at the end of the current year. The challenging fiscal situation is partly attributable to the capital injections into Hypo Group Alpe Adria.

April 24, 2014

KA Finanz AG / New bond issues

KA Finanz AG / New bond issues

April 15, 2014

KA Finanz: No More State Aids Necessary

The nationalized Austrian bad bank has finished the loss-making sale of credit default swaps. In the last six years, KA Finanz has downsized radically.

March 29, 2014

Austria: Delay in RBI Paying Back State Capital

Austrian Raiffeisen Bank International (RBI) will take longer than planned to pay back state capital.

March 15, 2014

Austria: State Aids for Banks Almost Exhausted

The financial framework for the banking aid for Hypo Group Alpe Adria is almost exhausted. So far the federal state of Austria has spent up to € 6.2bn.

March 8, 2014

Moody’s Raises Outlook on Austrian Banks

Rating agency Moody’s has raised the outlook on five Austrian Banks.

March 7, 2014

VBAG to be completely Nationalized?

According to experts, VBAG is the only Austrian bank which will not pass the stress test. In this case, there are only two alternatives: liquidation or full nationalization.

March 6, 2014

Austrian Bad Bank Received Further State Aid

The Austrian Ministry of Finance injected € 150m into KA Finanz, the bad bank of the publicly held Kommunalkredit.

February 6, 2014

Austria: VBAG Not to Receive Further Aids

Ailing banking institute VBAG of the Austrian Volksbanken Group will not be granted further state aids.

January 13, 2014

„No Debt-Backed Tax Reform“

Austrian Finance Minister Michael Spindelegger underlines that Austria has to put more effort into fiscal consolidation measures.

December 23, 2013

Austria: Bank Rescue Massive Burden for Public Finance

In total, costs of the Austrian banking package come at € 6.75bn. Expenses are only partially covered by revenues.

December 21, 2013

Austria: VBAG May Require Further State Aid

Partially nationalized VBAG is expected to post losses of more than € 200m.

December 20, 2013

KA Finanz AG / New bond issues

KA Finanz AG / New bond issues

December 18, 2013

Austria:Kommunalkredit Managers Accused of Breach of Trust

Four former managers of nationalized Kommunalkredit (KA) are accused of breach of trust and violating the Stock Corporation Act by the Public Prosecutor's Office against Economy and Corruption (WKStA) at the Regional Court in Vienna.

November 22, 2013

„Not Enough Bank Insolvencies“

Andrea Enria, head of the European Banking Authority (EBA), claims that the banking landscape did not change sufficiently.

November 18, 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: 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

Austria: New Austerity Package to Come?

Austrian economists expect that the new government will draft another austerity package. Otherwise the fiscal objectives will not be achieved.

November 6, 2013

Number of Banks Shrinks Substantially

Since 2008, about 10% of the banks had to be closed in the Eurozone. In the last five years, 16,200 bank shops were shut down. In Austria, the situation is almost the same.

November 5, 2013

Hypo Group Considers IPO

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

August 31, 2013

Austria: State-Owned Bank to Receive Further € 200m

The state subsidy for bad bank of Kommunalkredit has increased to more than € 2bn.

August 13, 2013

KA Finanz AG / Half Yearly Report

KA Finanz AG / Half Yearly Report

August 13, 2013

Bad Bank for Hypo Group?

According to market rumors, Austria´s government wants domestic banks to participate in a bad bank for the nationalized Hypo Group. Finance Minister Maria Fekter denies such reports.

August 5, 2013

Kommunalkredit to be Liquidated

The EU Commission has approved the plans submitted by the Austrian government. The nationalized bank will need further state aids.

July 20, 2013

Austrian Banking Package: Major Burden for Taxpayers

In total, the banking package has caused costs of more than € 6.4bn. Austrian taxpayers must expect further costs.

July 19, 2013

Austria: KA Finanz Not Planning On Needing More State Funds

After last week’s S&P report said KA Finanz was prone to needing further state funding, the rating agency apologized to the banking institute.

April 23, 2013

S&P: More Funds For KA Finanz

Austrian major banks are performing weakly. Risks increase in CESEE countries. S&P also warns of real estate bubble in Vienna.

April 18, 2013

Austria: Sale of Kommunalkredit Still in Limbo

Denationalization of Kommunalkredit not yet completed.

March 29, 2013

VBAG is Forced to Continue Radical Downsizing Measures

The partly nationalized and financially stricken Austrian banking group has to implement a painful restructuring concept. At the moment, VBAG sells its properties.

March 15, 2013

“Sale of Kommunalkredit Will Take Some Time”

Ewald Nowotny, governor of Austrian National Bank, believes that the sale of the nationalized Austrian banking group will take some years.

February 18, 2013

Size of Austrian Bank Aid: € 20bn

Since 2008, the Austrian state has injected more than € 8bn into domestic banks. Guarantees total € 12bn.

February 5, 2013

KA Finanz: Capital Shortfall to Become Bigger

The financially stricken bank is expected to need further cash contributions.

November 24, 2012

Nowotny: Greek Haircut for ECB “No Issue”

The governor of Austria´s National Bank (OeNB) Ewald Nowotny thinks that ECB would not participate in a haircut.

October 29, 2012
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