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EU Calls on Austria to Accelerate Reforms

Austria has to put more effort in reforms. In the fields of education, labor market, retirement plan and budget consolidation, Austria shows deficits.

June 1, 2012

OeNB Reacts to EU-Commission´s Critique

The EU Commission warned Austria of the big lending exposure in Eastern Europe. According to the Austrian Central Bank, the CESEE region must be seen differantiated.

May 31, 2012

OeNB’s Operating Profit Decreased

Profit of the Austrian Central Bank came to € 249m in 2011. Risk Provisions Increased by € 400m.

May 24, 2012

BCR: Treichl Expects Soon Recovery

Andreas Treichl, CEO of Erste Group, anticipates a soon recovery of the Romanian subsidiary Banka Comerciala Romana.

May 19, 2012

Corporate Lending in CEE Remains Stable

According to Bank Austria, financing to the corporate sector is holding up well, but a diverging performance among countries is likely to persist.

May 18, 2012

Greek Exit: Costs of € 7.7bn for Austria

Austria could have to bear costs of up to € 7.7bn if Greece leaves the Eurozone. Austrian guarantees amount to € 3.1bn.

May 14, 2012

Hungarian Bank Tax May be Abolished

The extraordinary bank tax in Hungary will be halved in 2013 and deleted in 2014, the government said. Austrian banks are relieved.

May 10, 2012

Leitl: „EU Needs Budget Consolidation and Growth Measures“

The President of the Austrian Chamber of Commerce claims to create a European fund in order to support small and medium-sized enterprises.

May 5, 2012

Saving Rate Falls Further

Private households invested € 9.3bn in financial assets in 2011. This is a decline by 20% against 2010.

April 28, 2012

Goldman Sachs: Too Small Margins at Austrian Banks in CEE

The U.S. investment bank is optimistic that the CEE region recovers in 2013. The write-offs made by Austrian banks were “correct”.

April 16, 2012

Every Second Austrian Feels Affected by Austerity Policies

The government's austerity program causes the average amount saved to decline to € 5,085. The planned credit volume rises to € 79.800.

April 16, 2012

Major Loan to Immofinanz by Russian Sberbank

The Austrian real estate company Immofinanz Group and the Russian Sberbank have concluded a long-term financing agreement with a volume of up to $ 715m.

April 11, 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

Total Assets of Austrian Banks Beyond € 1.0tn

At the end of 2011, the level of unconsolidated assets exceeded the € 1.0tn threshold again.

March 30, 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

Croatian Banks: Rise in NPL Ends

Croatian banks do not expect any further hike in the level of bad loans, which surpassed 12 percent at the end of 2011, the national banking association HUB said.

March 19, 2012

Bank Austria Plays Down Hungary Risks

The head of UniCredit unit Bank Austria's central and eastern Europe business played down potential risks from Hungary in a magazine interview published on Friday.

March 19, 2012

Lack in Low-Cost Apartments

In the near future, the Austrian real estate market threatens to show a drastic lack in low-cost apartments. Financing of real estate becomes more expensive.

March 15, 2012

Vienna Initiative an Insurance Policy, not a Game Changer, Fitch Says

The principles adopted Tuesday in “Vienna Initiative 2.0” do not change Fitch’s base case expectation that central, eastern and south-eastern Europe (CESEE) will continue to see weak, or marginally negative, credit growth in the near-to-medium term.

March 15, 2012

No Credit Crunch in CEE

Western European banks maintain the liquidity of their subsidiaries in Central and Eastern Europe. The equity provision is better than expected.

March 14, 2012

RBI Mandated Lead Arranger and Bookrunner for Moscow Airport

The loan of € 165m for the largest Russian Airport is for general corporate purposes. The international financing consortium consists of ING, Société Générale and RBI.

March 9, 2012

Bank Taxes: Nowotny Supports Government

OeNB´s governor Ewald Nowotny defends the coalition plans to raise bank taxes by 25%.

March 7, 2012

Austerity Package: Sorger Misses Reforms

The President of the Federation of Austrian Industries (IV), Veit Sorger, sees a massive lack in structural reforms. The austerity package is a “missed opportunity”.

March 3, 2012

Nowotny: „Austrian Banking Activities in CEE Better than their Reputation”

According to the governor of the Austrian Central Bank (OeNB), Ewald Nowotny, Austrian banks engaged in Central and Eastern Europe are more stable than they are supposed to be.

March 1, 2012

Nationalization of VBAG: Austrian State Holds 49%

After Kommunalkredit and Hypo Group, VBAG becomes the third Austrian bank which is publicly owned.

February 28, 2012

Pessimism in Austrian Banking Industry

26% of interviewed managers in the Austrian banking industry regard the development of the operating business as “very bad”.

February 27, 2012

Hungary is Optimistic to Reach Agreement with IMF

The Hungarian ambassador in Vienna, Vince Szalay-Bobrovniczky is convinced to solve the current financial crisis soon. Hungary aims for re-gaining trust of investors.

February 25, 2012

Austria Discussing Top Banks’ Capital Rules With EU Commission

Austria’s regulators are discussing rules for its top banks that will curb excessive lending in Central and Eastern Europe with the European Commission.

February 25, 2012

Stepic Criticizes Rating Agencies Sharply

For Herbert Stepic, CEO of Raiffeisen Bank International (RBI), statements given by the U.S. rating agencies are “undifferentiated”.

February 20, 2012

Cernko Against „Talking Down Austrian Banks“

Bank Austria´s CEO is strictly against an undifferentiated view on CEE-countries. Austrian banks with an exposure in the CEE region shall not be talked down.

February 17, 2012

Austrian Central Bank Lets Eligibility Criteria Ease

OeNB: ECB governing council endorses expansion of eligibility criteria for nonmarketable assets.

February 10, 2012

Lending Conditions of Austrian Banks Worsened

According to the Austrian Central Bank (OeNB), stricter lending conditions at Austrian banks were due to the decline in economic growth and detrimental refunding conditions.

February 2, 2012

Austrians Reduce Savings

At present, Austrians are planning to save € 5,460 (-4.5%). Around 10% of the population plans to finance their purchases by taking out loans and will borrow an average of € 68,800 (-16%).

January 31, 2012

Romanian President Appreciates Erste Group´s Decision

Traian Basescu, President of Romania, is pleased with Erste Group´s announcement to continue its business in Romania.

January 28, 2012

Austrian Lending Restrictions Under Observation

The plan of the Austrian FMA and OeNB to restrict lending in CEE countries could be a violation of EU-law.

January 19, 2012

Austrian Banks Claim to Continue „Vienna Initiative“

In 2009, international banks agreed on maintaining their lending operations in Eastern Europe. Now, the cooperation should be extended.

January 18, 2012

Erste Group Provides Major Loan to Telekom Serbia

The Austrian bank commits € 140m to Telekom Serbia as part of a recent syndicated loan taken by the company. Erste Group acted as joint mandated lead arranger, underwriter and bookrunner.

January 18, 2012

Austrian Hotel Industry Under Pressure

Over the last years, the domestic hotel industry improved its size, capacity utilization and revenues. However, costs are rising massively.

January 14, 2012

Austrian Balance of Current Accounts Positive

In the first three quarters of 2011, the Austrian economy achieved a strong performance. The balance of current accounts was significantly positive.

January 9, 2012

Worsening Economic Outlook for 2012

Economists and analysts expect a massive fall in Austrian economic growth for 2012.

January 4, 2012

Austrian SME Become More Cautious

Due to the weak economy, the euro-crisis, the decrease in public expenses and equity requirements, small and medium-sized enterprises are more reluctant for investments.

December 27, 2011

OeNB Sees No Signs for Credit Crunch

The Austrian Central Bank reports a stable development of new lending. The volume of new corporate and private loans is growing at 2% each.

December 21, 2011

Building Saving: Financing Becomes more Difficult

In Austria, 45,000 new apartments are needed, causing finance requirements of € 8.8bn. Meeting this demand becomes harder.

December 14, 2011

Mitterlehner Pushes for more Venture Capital

The Austrian Minister of Economics, Reinhold Mitterlehner wants to increase efficiency and reduce redundancies in economic subsidies.

December 10, 2011

Nowotny Attacks EBA

The Governor of the Austrian Central Bank (OeNB), Ewald Nowotny, criticizes the high speed which EBA requires from banks to build up equity capital.

December 9, 2011

Rising Finance Requirements Due to Increase in Investments

According to the Erste Bank’s forecast on savings and loans, the average financing amount in Austria amounts to € 81,800.

December 7, 2011

Strong Growth in Lending to Private Households

Loan development in the second quarter: Total lending volume grows; opposing trends are registered for new loans to enterprises and private households.

September 1, 2011

Banks Expect Tightening of Credit Guidelines in 2012

Austrian banks’ lending policies did not change in the second quarter of 2011. For two years already, no tightening of lending conditions has been observed.

July 28, 2011

Credit Costs to Rise in the Wake of Basel III

The new regulatory requirements are expected to increase the cost of credits and to reduce the Austrian banks’ profitability.

July 20, 2011

Slow Recovery in Banks’ Lending Activity

Corporate loans recovered faster than loans to private households. Interest rates have increased only slightly since April 2010.

July 11, 2011
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