Bulgaria: Protests Continue in Sofia and Varna

Bulgarian political decisions are afflicted by extreme unpopularity as almost 60 % of the population suffers from immediate poverty. Riots continue in Sofia and Varna.

February 24, 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

Hypo Group: Sale of Austrian Unit „at a Late Stage”

According to Hypo Group, the results of the Austrian unit for 2012 are “highly satisfying”.

February 16, 2013

„Selling Hypo Group Needs up to Five Years“

Hannes Androsch, supervisory board president of the Austrian bank holding Fimbag, thinks that a sale will either be expensive or take some time.

February 15, 2013

VBAG: High Losses Ahead

The partially nationalized Austrian bank is expected to record losses of more than € 150m in 2012.

January 12, 2013

Sale of Kommunalkredit to Be Postponed

The sale of the Austrian nationalized bank will not be sold by the end of the year. Austria´s Ministry of Finance postpones the signing by three months.

December 17, 2012

Sharp Attack Against Hypo Group

The legal dispute between Austrian Hypo Group and German BayernLB escalates. The majority owner of BayernLB announced that Hypo Group´s lawsuit will be fought by all means.

December 15, 2012

Hypo Group: Cash Contributions Come at € 500m

The Austrian state has to inject another € 500m in the financially stricken nationalized bank. Furthermore, guarantees will increase by € 1.0bn.

November 14, 2012

VBAG Expects Substantial Losses in 2012

This year, the partially nationalized Austrian bank will record losses reaching a two-digit million amount.

November 10, 2012

Hybrid Bond for Hypo Group

In order to cover the capital shortfall of Hypo Group, the Austrian state may inject € 500m into the nationalized bank. Furthermore, the bank plans to issue bonds worth € 1.0bn.

November 3, 2012

Banking Package: Austria to Lose Billions

Hannes Androsch, member of the publicly owned bank holding company Fimbag, fears that Austria´s losses will be substantial.

October 22, 2012

Austrian Audit Court Criticizes Nationalization of Kommunalkredit

According to the Austrian Audit Court, the former owner of Kommunalkredit VBAG would have survived without the nationalization.

October 15, 2012

Hypo Group: Difficult Negotiations with Austrian State

The nationalized banking group urgently needs a capital injection. This year, the capital shortfall will be reduced by € 1.5bn.

October 9, 2012

Slovenia “No Bail-Out Candidate”

Slovenia ´s former Prime Minister Anton Rop is optimistic that the country will manage the crisis.

September 27, 2012

European Commission Approves State Aid for VBAG

The European Commission has today approved the comprehensive restructuring plan developed by Österreichische Volksbanken-AG (VBAG) in the wake of the financial and economic crisis to restore long-term profitability.

September 19, 2012

Austria Wants to Unload Hypo Group

In 2009, BayernLB sold the financially stricken bank to the Austrian state. Now, the Austrian Republic may appeal against the sale.

September 18, 2012

Hypo Group´s Capital Shortfall at € 2.2bn

Today, the Austrian Financial Market Authority (FMA) announced its new estimation regarding the nationalized banking group. Insiders fear that Hypo Group needs even more money.

September 6, 2012

Capital Shortfall at Hypo Group up to € 2.0bn

OeNB (Austrian Central Bank) will publish the capital shortfall at the end of September and emphasizes not to submit to the government´s pressure.

September 1, 2012

Hungary to Nationalize Energy Industry

Viktor Orban´s government plans to acquire the Hungarian subsidiary of German eon.

August 29, 2012

Hypo Group: Major Risk Factor for BayernLB

The former owner of Hypo Group Alpe Adria, which was nationalized in 2009, may write down up to € 3.1bn.

August 18, 2012

No Merger Between VBAG and Bawag

Bawag´s CEO Byron Haynes reaffirmed that U.S. owned bank is not interested in a merger with the partly nationalized VBAG.

August 6, 2012

Kommunalkredit Sale: „There are potential buyers“

Yesterday, the nationalized Kommunalkredit was put up for sale. According to Fimbag´s board chairman Klaus Liebscher, there are some interested parties.

July 27, 2012

Austria is Liable for Hypo Group´s Major Loan

At the sale of Hypo Group by BayernLB in late 2009, BayernLB granted a loan of € 2.64bn. The Austrian state has issued a guarantee for this loan.

July 27, 2012

Government Puts Kommunalkredit for Sale

The nationalized Austrian lender Kommunalkredit should be sold until 2013. Offers must be to submit to Morgan Stanley until August 16.

July 26, 2012

Hypo Group: „As Little Bank Aids as Possible“

Hypo Group Alpe Adria´s CEO Gottwald is unhappy with reports that the state-owned bank may need further bank aids.

July 20, 2012

Fear of Capital Shortfall at Austrian Banks

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

July 19, 2012

VBAG-Restructuring Proves Problematic

In March, the Austrian VBAG Banking Group became partly nationalized. A new CEO has not been found yet.

July 12, 2012

Volksbanken Sector to Become Merged

After months of negotiations, the merger between VBAG and the 52 Volksbanken is resolved. The merger was the prerequisite for getting bank aids.

June 30, 2012

Government´s Plans on Bank Insolvency Law Failed

The Austrian government initially planned to initiate a bank insolvency law in order to liquidate financially stricken banks without major difficulties. Now, the plan has failed.

June 22, 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

„Shotdown of Hypo Group Would Cost € 6.0bn“

The management of the nationalized Austrian Hypo Group Alpe Adria asserts that the shutdown would be more expensive than the continuation of the business.

June 15, 2012

Hypo Group: The Time is Pressing

Until the end of this year, the Austrian nationalized banks needs an equity quota of 12.0%. This will not be achieved without special measures.

June 11, 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

Hypo Group: Further State Aids not Excluded

Johannes Ditz, chairman of the nationalized Hypo Group Alpe Adria, wants to sell about a third of the interests until 2014. In the end, losses are likely.

May 30, 2012

Substantial Losses at Volksbanken

The main shareholders of Austrian VBAG had to write down € 333m last year.

May 26, 2012

Hypo Group May Need Further State Aid

The directors of the Austrian Financial Market Authority (FMA) did not exclude that the nationalized Hypo Group Alpe Adria has a substantial capital shortfall.

May 23, 2012

Cerberus May Sell Bawag

Five years ago, the U.S. investment fund Cerberus acquired the financially stricken Austrian Bawag bank. Next week, the retention period expires.

May 12, 2012

Kommunalkredit: Losses Reach € 150m

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

April 30, 2012

RZB´s Rothensteiner: „Not Interested in VBAG“

Walter Rothensteiner, CEO of Raiffeisen Zentralbank (RZB), does not see a suitable takeover target in the partly nationalized VBAG.

April 28, 2012

Schelling Elected Chairman of VBAG

Hans Jörg Schelling, former CEO of the public accident insurance company, was elected supervisory board chairman of financially stricken Austrian banking group Volksbanken AG (VBAG), in which the state just got a 43 percent stake.

April 27, 2012

Austria Injects € 1bn into KA Finanz

Austria injected € 998m into nationalized KA Finanz AG after the lender lost more than € 1bn on its bonds and credit-default swaps in Greece’s debt restructuring.

April 26, 2012

Tumpel-Gugerell Won´t Head VBAG´s Supervisory Board

Gertrude Tumpel-Gugerell will not become chairwoman of the Austrian bank VBAG as planned.

April 25, 2012

Dexia Fights Austrian KA Finanz Capital Cut

Franco-Belgian bank Dexia is contesting an equity capital cut at Austrian state-owned "bad bank" KA Finanz.

April 24, 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

Fekter Nominates Koren as VBAG´s Chief Executive

Maria Fekter, the Austrian Minister of Finance said that Stephan Koren already agreed to become CEO of the partly nationalized bank VBAG.

April 14, 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

VBAG Records Losses of € 1.35bn

Due to high write-offs in Hungary and Romania, the Austrian nationalized bank registered major losses in 2011. Thus, the capital injection covers these losses only partially.

April 5, 2012
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