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Russia

CEE: Economy Could Become More Vulnerable to Crimea Crisis

If the political crisis in Crimea aggravates negative effects in the economy could soon become evident.

April 2, 2014

Austrian RBI Under Pressure

The Austrian National Bank (OeNB) and the Austrian Financial Market Authority (FMA) want Raiffeisen Bank International, the second-biggest lender in CESEE, not to repay the participation capital.

April 2, 2014

Austria: Fitch Warns Banks of Risk with Business in Russia

The menacing sanctions against Russia with regard to the political crisis in Crimea could become a severe danger for Austrian banks.

April 1, 2014

Austria: Economic Recovery Remains Modest

Political clouds over economic recovery.

April 1, 2014

RBI to Keep Hungarian and Ukrainian Affiliates?

Raiffeisen Bank International (RBI) considers keeping its affiliates in Hungary and Ukraine.

March 27, 2014

RBI: Profit Shrinks by Almost A Quarter

RBI with consolidated profit of € 557 million Austria’s most profitable bank for the fourth time.

March 27, 2014

Serbia: Program for New Government in Progress

The future government will have to implement extensive reforms. Vucic, whose party saw a landslide victory in the parliamentary elections, is working on the government’s program.

March 26, 2014

Poland: Good Starting Point for Economic Growth

Economic growth for 2014 is expected to accelerate to 3.1 percent to 3.2 percent in the first quarter while for the full year it is anticipated to come at 3.5 percent, according to Polish Economy Minister Janusz Piechocinski.

March 26, 2014

Poland: Economy Proves Immune to Ukrainian Crisis

According to Governor of the Polish National Bank (NBP) Marek Belka, the Polish economy has so far proved stable and almost remained unaffected by the political crisis in Ukraine.

March 26, 2014

Poland: Promising Years Ahead

Poland observes the crisis in Ukraine with great concern, but does not forget to upgrade national resources.

March 25, 2014

Serbia: President Announced “Pro-Serbian Government”

Tomislav Nikolic, Serbian President, announded the future government to be pro-Serbian.

March 24, 2014

Serbia Wants to Keep Balance Between Russia and EU

Serbia´s Prime Minister Ivica Dacic does not want to stab Russia in the back. At the same time, Dacic keeps an eye on Brussels.

March 24, 2014

Czech Growth to Speed Up

Due to the increase in foreign demand, the advisory company EY expects the Czech economy to revive this year.

March 24, 2014

Faymann Does Not Rule Out Economic Sanctions Against Russia

Austrian Chancellor Werner Faymann wants to avoid further conflicts with Russia and to put effort into diplomacy instead. Economic sanctions are no taboo, though.

March 24, 2014

Zeman Wants Ukraine to Cooperate with Brussels

According to Czech President Milos Zeman, Russia´s occupation of the Crimea is a “cold-bloodedly” step against the Ukraine. The crisis-ridden country should work together more closely with the EU.

March 22, 2014

Sanctions Against Russia: Massive Threat for Austrian Banks

Brussels plans to impose economic sanctions on Russia. The Austrian financial sector would suffer enormously an escalating conflict with Moscow.

March 19, 2014

Immofinanz: Substantial Increase in Profits

In the first nine months of 2013/14, the Vienna-listed group registered an increase in net income by 7.1%. For the time being, Immofinanz is not affected by the Crimea crisis.

March 19, 2014

CEE: Investments to Boost Economic Growth

In the coming two years economic growth in Eastern Europe is expected to accelerate to an average of two to three percent of GDP triggered by a boost in investments.

March 13, 2014

CEE Countries Condemn Russian Intervention in Ukraine

Foreign Ministers of the Visegrad countries (Poland, Czech Republic, Slovakia and Hungary) want to strengthen the EU defense policy. Poland intensifies its military cooperation with the U.S.

March 8, 2014

Austrian Banking Sector Fears New Crisis in Russia

For both Bank Austria and Raiffeisen Bank International, the crisis in Ukraine is an enormous threat. What is more, Russia might develop into a serious danger for foreign banks.

March 8, 2014

Ukrainian Crisis: Czech Republic Against Sanctions

Instead of economic sanctions against Russia, diplomatic talks should de-escalate the tense situation. President Zeman wants to create a Ukrainian Federation.

March 8, 2014

Hungary: OTP Bank’s Profits Vanished by Provisions and Taxes

A decrease on the operating profit, increasing risk provisions and taxes drained almost all profits made in the fourth quarter last year.

March 7, 2014

VBAG to Sell Romanian Subsidiary

The Austrian partly nationalized VBAG has started the sale of the loss-making Romanian affiliate.

March 5, 2014

Polish Financial Market Proves Strong

The financial market in Poland is resistant towards negative impacts resulting from the current political crisis in neighbor country Ukraine.

March 5, 2014

Ukraine: Poland Wants to Put Pressure on Russia

Poland´s President Bronislaw Komorowski underlined that the U.S. has given assurances on Poland´s security. Prime Minister Tusk calls for solidarity with Ukraine.

March 3, 2014

„The World is Close to an Enormous Conflict“

Poland´s Prime Minister Donald Tusk is highly concerned about the developments in Ukraine. Tusk warned insistently of an escalation of the conflict, which might entail “unforeseeable consequences”.

March 2, 2014

Polish Currency Suffers from Instability in Ukraine

The Polish Zloty has become weaker because of the political instability in Ukraine.

February 28, 2014

Austrian Banks with Significant Exposure in Ukraine

Ukrainian crisis hits Western Banks in different state compared to 2008/09, according to RBI.

February 27, 2014

CEE Financial Markets under Pressure as Riots Continue in Ukraine

CEE markets under pressure as Ukraine violence heats up. Biggest direct risk to Polish Zloty, but also to Hungarian Forint and Romanian Leu.

February 21, 2014

Austria Most Popular Country among Hungarians

93 percent of Hungarians feel compassion towards Austria.

February 19, 2014

Real Estate: Outskirts of Vienna Popular Among East Europeans

More and more well situated East Europeans discover the suburban regions surrounding the Austrian capital. Unlike in Vienna, property prices are going up steadily.

February 4, 2014

„We Must Watch CESEE Very Carefully“

In an interview with the Austrian daily „Standard“, board member of Österreichische Kontrollbank AG Angelika Sommer-Hemetsberger said that the economic crisis in CESEE is not over yet.

February 3, 2014

Bawag to Be Sold?

According to rumours, the fifth largest Austrian lender may be sold.

January 31, 2014

CESEE: Overtaking Western Europe Not Before 2055

According to the European Bank for Reconstruction and Development, the transition period of Central, Eastern and Southeastern Europe will take longer than initially expected.

January 29, 2014

Austria: Sberbank Affected By Further Costs

Sberbank is faced with further aids for Austrian Volksbank International (VBI). So far the Russian bank has pumped a total of € 1.3bn into Sberbank Europe.

January 27, 2014

NLB Closing Moscow Office

The step is part of the restructuring and downsizing procedure.

January 27, 2014

Austria: Fischer Calls Upon Respect of Human Rights

At the New Year Reception for the diplomatic corps in Austria, President Heinz Fischer called upon the strict compliance to human rights.

January 20, 2014

Expansion Course of Austrian Banks Slowed Down

After the financial crisis cooled down the expansion course of Austrian banks in CESEE countries was dampened down.

January 16, 2014

CESEE: Massive Increase in Real Estate Investments

In Central, Eastern and Southeastern Europe, the total volume of real estate transactions totaled € 10.bn last year. Most transactions were recorded in Russia and Poland.

January 15, 2014

Bank Austria Declines Selling Plans in Ukraine

CEO of Bank Austria, Gianni Franco Papa, rejects rumors about Bank Austria intending to leave the Ukraine.

January 14, 2014

CESEE: Number of NPL Declining

According to a study by Bank Austria, the number of bad loans is declining in Central and Eastern Europe.

January 14, 2014

RBI Expects Growth to Accelerate in 2014

2014 marked by growth recovery, according to RBI Research.

January 9, 2014

Growing Evidence for RBI’s Withdrawal from Hungary

According to media reports, Hungarian partly nationalized Szechenyi Commercial Bank has placed an offer for the take-over of RBI’s Hungarian affiliate.

January 7, 2014

Austria: VBAG May Require Further State Aid

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

December 20, 2013

VIG: Sale of Bulgarian Affiliate Failed

Vienna Insurance Group has to find a new buyer for the Bulgarian pension fund Doverie. United Capital, the potential buyer of Doverie has lost its bank license.

December 16, 2013

Austrian Banking Industry Depends on Russia and Czech Republic

For the Austrian banking sector, the CESEE region is highly heterogeneous. In the first six months of 2013, net earnings totaled € 1.4bn in the region.

December 12, 2013

Sberbank: Lawsuit Against VBAG

The largest Russian banking group has filed a lawsuit against Austrian VBAG at the International Court of Arbitration.

November 29, 2013

CESEE: Slight Growth Acceleration, but Uncertainties Persist

The Vienna Institute for International Economic Studies (wiiw) has published the economic forecast for the CESEE region today. The economic performance varies substantially from country to country.

November 28, 2013

Sberbank Strives for Organic Growth in CESEE

In 2012, the largest Russian bank took over VBAG´s sub-holding for the CESEE region. As Sberbank still has to invest a lot in the former subsidiary of Austrian VBAG, CEO German Gref is not perfectly satisfied with the acquisition.

November 27, 2013

Ukraine Leaves Path Towards EU

After the Association Agreement between the Ukraine and the European Union failed head of state Mykola Asarov stated economic reasons for the abrupt stop.

November 22, 2013