Kommunalkredit

Fear of Capital Shortfall at Austrian Banks

The Austrian problem banks Hypo Group and KA Finanz may need further capital injections.

July 19, 2012

Fekter Does not Want to Bundle Austrian Problem Banks

As the public debt level would rise dramatically, Austria´s Finance Minister Maria Fekter rejects the idea of a common bad bank.

July 19, 2012

Further Increase in Austrian National Debt

Due to the European debt crisis, Austria´s public debt level will increase from 72.2% to 74.7% of the country´s GDP.

July 16, 2012

„ÖIAG Should Manage Banking Interests“

Austria´s Finance Minister Maria Fekter wants to upgrade the Austrian state holding ÖIAG.

June 23, 2012

Liebscher Calls for New Model of Bad Banks

The chairman of Austria´s Fimbag, the state holding of nationalized banks, wants to put aside toxic assets of nationalized banks.

June 18, 2012

Austrian Banks Perform Well in Eastern Europe

The Austrian banks did not overreach themselves in Eastern Europe, the economist Bernhard Felderer says. By contrast, UniCredit, RBI and Erste Group are highly profitable.

June 11, 2012

Bad Bank for Hypo Group?

The nationalized Austrian bank Hypo Group Alpe Adria considers to create a bad bank in order to avoid further capital injections.

June 8, 2012

Kommunalkredit Sale: Austria Hires Morgan Stanley

The nationalized Austrian lender Kommunalkredit should be sold until 2013. The U.S. investment bank should act as commission agent.

June 6, 2012

Androsch Criticizes Hypo Group Purchase

In 2009, the Austrian state nationalized the financially stricken Hypo Group. Much time was wasted, the industrialist and Fimbag board member Hannes Androsch thinks.

May 30, 2012

Rothensteiner: Return to Drachma would be „Utter Chaos“

The CEO of the Austrian RZB (Raiffeisen Zentralbank) warns of a Greek exit. At the moment, there would be not contagiousness for Spain or Italy.

May 21, 2012

Kommunalkredit: Search for Buyer Goes on

In 2008, the former interest of VBAG was nationalized. The market environment would be too insecure, CEO Steinbichler says.

May 5, 2012

Austrian Banks Only Reached Minor Profits in 2011

Last year, consolidated profits of Austrian banks were down by 85%. In total, profits after taxes amounted to € 0.71bn. At the moment, Spain and Portugal are not regarded as risk factors.

May 2, 2012

Kommunalkredit: Losses Reach € 150m

The nationalized Austrian lender had to write down Greek sovereign bonds. Write-offs totaled € 176m.

April 30, 2012

Big Exposure in Spain and Portugal

In total, Austrian banks have an exposure of € 4.3bn in the financially stricken EU-countries Spain and Portugal.

April 19, 2012

OeNB: “Nationalizations Are Clean Up”

Austria’s central bank (OeNB) said that the nationalization of three of the nation’s lenders helped clean up the structure of the domestic banking industry.

April 17, 2012

„Bank Aids Are Lost“

The economist Franz Hahn (WIFO, Austrian Institute of Economic Research) argues that the nationalized banks are not interesting for potential buyers.

April 10, 2012

Banks have CEE-Subsidiaries „Under Control“

RBI´s CEO Herbert Stepic criticizes the skepticism against banking in Central and Eastern Europe. The economist Aiginger sees more advantages than risks for Austrian banks.

March 21, 2012

KA Finanz: Disaster Was Avoidable

The „bad bank“ of the nationalized bank Kommunalkredit considered selling Greek sovereign bonds in spring 2009. Last week, KA Finanz wrote off € 423m.

March 12, 2012

Nowotny: Capital Shortfall at Hypo Group „Substantially Less Than € 10bn”

The governor of the Austrian Central Bank (OeNB) repulses reports stating that the nationalized bank Hypo Group needs capital injections of € 10bn.

March 10, 2012

KA Finanz Needs € 1.0bn

Due to write-offs of Greek sovereign bonds, the “bad bank” of the nationalized Kommunalkredit has a capital shortfall of € 1.0bn.

March 9, 2012

Cernko Criticizes VBAG Bail-Out

Willibald Cernko, CEO of Bank Austria considers that the Austrian state reacted too late. A partly nationalization could have taken place already one year before.

March 9, 2012

Public Debt Agency: “Unnecessary to Change Bonds Issuance Plans”

Austria sees no need to change its debt issuance program and is sticking to its plan to stay below the European Union’s deficit ceiling this year even as it injects cash into Oesterreichische Volksbanken AG (VBPS) and KA Finanz.

March 6, 2012

Fekter: Up to € 1.0bn for Kommunalkredit

In case of a default of Greek sovereign bonds, the Austrian state would have to grant € 1.0bn to the nationalized bank Kommunalkredit.

March 3, 2012

Banking Industry As „Cash Cow“?

For RZB´s CEO Rothensteiner, the increase in bank tax is “not fair”. The government plans to raise bank taxes by 25%.

February 29, 2012

Public Dispute Over Privatizations

The two government parties disagree to the sale of further publicly held companies. ÖVP pushes for privatizations, for SPÖ the idea is inacceptable.

February 29, 2012

„Banks are the Real Austrian Problem“

The Austrian opposition criticizes the rescue of VBAG by the government massively. Further bank aids are feared.

February 28, 2012

KA Finanz Tries to Sit Out Greek Crisis

The nationalized Austrian bank has an exposure of € 980m in Greece. CEO Steinbichler hopes not to participate in the haircut.

February 21, 2012

Kommunalkredit: More Costly than Hypo Group

The Austrian state had to made expenses of € 4.65bn for the nationalized Kommunalkredit. In total, the bank package´s volume reaches € 11bn.

February 9, 2012

Still Capital Requirement at Kommunalkredit

The „bad bank“ of the nationalized Austrian bank, KA Finanz, receives € 190m by the Austrian state. Moreover, another € 600m are needed in the first half of 2012.

February 7, 2012

Privatization of Kommunalkredit Starts

The sale of the nationalized bank will start in the second half of 2012. For 2011, losses could reach up to € 150m.

February 4, 2012

Kommunalkredit Downgraded by Moody´s

The U.S. rating agency downgraded Kommunalkredit Austria to Baa3.

February 2, 2012

Austria to Sell Nationalized Bank Kommunalkredit

The nationalized lender has to be sold by mid-2013. Finance Minister Fekter hopes for proceeds of € 500m.

November 29, 2011

Losses for Kommunalkredit Probable

The nationalized Austrian Bank has to build major provisions. Write-offs up to € 500m are possible.

November 1, 2011

Greek Haircut Would Cost Another € 350m

Austrian banks still have a substantial exposure in Greece. A haircut up to 60% seems possible. Then, another € 350m would have to be written off.

October 18, 2011

Androsch „Another Three to Four Billions for Hypo Group“

The former Minister of Finance, Hannes Androsch fears a loss of Austria´s AAA-rating. “We are being observed accurately.”

October 4, 2011

Greek Bonds Burden Kommunalkredit’s Results

The state-owned Austrian bank reported a significant decline in profits due to a write-off of Greek government bonds.

August 8, 2011

Contradictions Regarding Expenditure for Bank Package

According to Eurostat, € 1.4bn more were spent on bank assistance than the corresponding revenues. The Ministry of Finance contradicts this.

May 7, 2011

Kommunalkredit within the Profit Sector

After the split of the former Kommunalkredit in November 2009, the KA has exceeded profit targets with a provisional net profit of € 24.7m.

April 14, 2011

Kommunalkredit back in black

Kommunalkredit AG earned €7.5m ($9.5) net, in the first half of 2010. It is the first period since the split in November 2009; a comparison with the previous year is therefore limited.

August 30, 2010
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