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Ukraine Crisis: Potential Impact of Russian Invasion on Ukrainian, Russian and EU Economies
The solution of the Russian aggression and violation of rights towards Ukraine, is of central importance for the world we want to live in. The Vienna Institute for International Economic Studies (WIIW) conducted a study on the potential economic impacts of a Russian invasion of Ukraine. Read their prediction for how an invasion would affect the economies of the EU, Russia, and Ukraine.
February 8, 2022 · Updated: February 11, 2022; 08:35
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Meet the New Mongolian Ambassador to Austria, H.E. Mr. Tsengeg Mijiddorj
The new Ambassador of Mongolia to Austria, H.E. Mr. Tsengeg Mijiddorj, presented his credentials to President Van der Bellen. Learn more about Ambassador Mijiddorj.
January 18, 2022
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Japanese Life Sciences Corporation Invests More Than 100 Million Euros in Vienna
The Japanese life sciences company Takeda Pharmaceutical Company Limited is investing more than 100 million euros in a new building in Seestadt, Vienna. Read about the massive investment and see a picture of what it is supposed to look like upon completion.
November 18, 2021
Unicredit Bank Austria Preliminary Results: Net Profit of About EUR 1.3 Billion for 2015
Unicredit Bank Austria has published its preliminary results for the 2015 financial year. Unicredit's Austrian subsidiary posts a net profit of about EUR 1.3 billion for 2015. Systemic charges including bank levies are up by EUR 89 million to EUR 326 million.
February 10, 2016
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UniCredit Bank Austria Named Best Trade Finance Bank in Austria
US financial magazine Global Finance selected Bank Austria for the eighth time in a row "Best Trade Finance Bank" in Austria.
January 21, 2016
Robert Zadrazil Takes Over the Helm of Bank Austria from Willibald Cernko
After having been board member of Bank Austria for ten years, Robert Zadrazil (45) will now step it up and replace Willibald Cernko (59) who will step down as of 1 March 2016. The bank speaks of a generation change.
January 18, 2016
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Biggest Viennese Real Estate Deal Ever - Sale of The Mall Closed
Bank Austria - via its subsidiary BAI - closed the sale of "The Mall", the largest and most modern shopping mall in the heart of Vienna. The buyer is a consortium led by Morgan Stanley Real Estate Investing (MSREI). UniCredit Bank Austria did not disclose the price, but claims that the transaction is Vienna's largest real estate deal ever.
December 16, 2015
UniCredit Final Restructuring Program on Bank Austria's Retail Business
UniCredit announced a major step in its strategic plan execution, by launching a profound restructuring program on its Austrian retail business that will enable Bank Austria to develop its business in a sustainable way, while bringing down significantly its cost income ratio. The restructuring plan will allow to reduce by 2018 Bank Austria's overall costs by € 150mn per year on an ongoing basis on top of the Strategic Plan and with main focus on personnel expenses, leading to an overall cost decrease by almost € 300mn versus 2014 in order to ensure the business sustainability in the long-run.
December 15, 2015
Large Securitisation Deal between EIB and UniCredit Leasing Austria
EIB participates in securitisation transaction of UniCredit Leasing Austria with EUR 230.9 mil. The European Investment Bank (EIB) will make available EUR 230.9 million to UniCredit Leasing Austria through the purchase of asset-backed securities (ABS).
November 24, 2015
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Journalism Award “Writing for CEE 2015” Goes to Martin Leidenfrost
The EUR 5,000 Writing for CEE journalist prize has been awarded for the twelfth time. Journalists from all round Europe – including Northern Europe, Central and Eastern Europe, South Eastern Europe and the CIS countries – have been invited to submit their works. The Austrian Journalist Martin Leidenfrost wins the “Writing for CEE 2015” award for his column "Expedition Europe". At the award ceremony writer and honorary guest Karl-Markus Gauß touched on the discovery of Europe and SEEMO Secretary General Oliver Vujovic said, that Europe faces new boundaries and divisions.
November 18, 2015 · Updated: November 20, 2015; 19:00
Bank Austria Posts Net Profit of EUR 660 Million for the First Nine Months
UniCredit Bank Austria announced that net profit in the three months to end-September dropped to 172 million euros from 291 million in the previous three months. As reported, the bank plans to terminate up to 14,000 jobs and restructure or exit its retail business in Austria and leasing operations in Italy as it seeks to strengthen its equity.
November 11, 2015
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UniCredit - Bank Austria: CEE Operations Move from Vienna to Milan - Retail Business to be Sold or Restructured
Until the end of 2016, all CEE interests with currently 48,000 employees have to be transferred to Milan. Until now this division has been the most important earner for Bank Austria. The 13 banking subsidiaries of Bank Austria in Eastern and Southeastern Europe employ nearly 48,000 people - and thus the majority of the approximately 57,000 employees of Bank Austria. The retail banking business of in Austria with 1.6 million customers has to be sold or restructured, Unicredit announced in the afternoon.
November 11, 2015
Tensions Prior to Announcement of the UniCredit Savings Plans
It is rumored that the groupwide reduction of up to 14,000 jobs will be announced today. It is also about the future of Bank Austria. Bank Austria's parent UniCredit may withdraw the group's CEE head office from Vienna.
November 11, 2015
Bank Austria Sells Prominent Property "The Mall" to Morgan Stanley Consortium
UniCredit Bank Austria AG announces that the purchase agreement for the shopping centre The Mall at Wien Mitte was signed with Morgan Stanley Real Estate Investing (MSREI), pending approval by the antitrust authorities.
October 22, 2015
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CEE in the Autumn of 2015 is the New Safe Haven
The key conclusion of UniCredit’s CEE Quarterly 4Q 2015 is that the CEE region, despite its heterogeneity, looks better positioned than most other large emerging markets to cope with potential challenges. In particular they found that market volatility spiked in 3Q15, with the uncertainty surrounding the anticipated Fed rate hike augmented by growing worries about a “hard landing” in China.
September 25, 2015
Euromoney Names UniCredit-Bank Best Bank in CEE
Euromoney has presented UniCredit with nine awards for excellence, including Best Bank in Central Eastern Europe, Best Debt House in Central Eastern Europe and Best Transaction Services House in Central Eastern Europe.
July 14, 2015
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UniCredit Private Banking Receives Euromoney Awards
UniCredit Private Banking has been recognized for its services, winning 14 awards in different regional and local categories in Euromoney magazine´s Private Banking Survey 2015.
February 10, 2015
UniCredit Bank Austria Appoints Vivaldi as Head of its CEE Division
UniCredit has appointed Mr. Carlo Vivaldi as the Head of Central & Eastern Europe (CEE) Division. In this function Mr. Vivaldi will succeed Mr. Gianni Franco Papa, who has already been designated in August. In view of the appointment resolved today by UniCredit Board, the Supervisory Board of Bank Austria will be called upon to approve the appointment of Mr. Vivaldi also in the bank's Management Board.
November 11, 2014
Bank Austria Posts Net Profit of EUR 776 Mln in H1 2014
Net profit rises by 34.3 per cent to EUR 776 million compared with the same period of the previous year.
August 6, 2014
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Verbund: Trying to Get Rid of Sorgenia
The Austrian utility Verbund announced not being willing to invest any further money into loss-making Italian energy group Sorgenia.
May 8, 2014
Bulgaria: Banking Sector Getting Back on Feet Again
In the first quarter this year profits of the Bulgarian banking sector grew by 34 percent.
May 2, 2014
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Bank Austria: “Russia is Still Profitable”
According to Vice CEO of Bank Austria and head of business operations in CEE Gianni Franco Papa, business in Russia is not yet affected by the political crisis in Crimea.
May 2, 2014
Situation for Austrian Banks in Russia is “Sensitive”
According to the latest statistics, Austrian banks are considerably more engaged in Russia than assumed so far. Debts to domestic financial institutes amount to € 50bn.
April 29, 2014
Austrian Banking Sector Making Losses
For the first time in 2013, the Austrian banks made losses in the amount of € 1.035bn.
April 29, 2014
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Do Taxes Justify a Relocation of Business?
Tax sensitive business operations should be relocated to other areas if necessary, according to the head of Erste Bank Austria.
April 24, 2014
Slovenia: List of Debtors of NLB Published
The Slovenian bad bank BAMC (Bank Asset Management Company) has published the list of debtors of the country’s two largest banks, which are responsible for the disaster of the state-controlled banks.
April 23, 2014
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UniCredit: Common Bad Bank with Intesa Sanpaolo?
The parent company of Bank Austria may create a common bad bank with its Italian competitor Intesa Sanpaolo. The bad bank may be sold later on.
April 22, 2014
Bank Austria Ends Business on Crimea
One day after Ukrainian affiliate of Raiffeisen Bank International (RBI), Bank Aval, has terminated business on the peninsula Crimea, UniCredit’s Bank Austria announced closing down its affiliates permanently.
April 16, 2014
Industrial Location Austria Losing Attractiveness
Among other things, labor costs and energy prices are too high, according to the Austrian Federation of Industries.
April 16, 2014
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RBI Terminates Business on Crimea
The Ukrainian affiliate of Raiffeisen Bank International (RBI), Bank Aval, has terminated its business activity on Crimea.
April 15, 2014
Erste Group to be Relocated to the Czech Republic?
CEO of Erste Group, Andreas Treichl, has informed Czech President Milos Zeman about the bank’s intention to move to Prague in the coming years.
April 9, 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
Czech Republic: Banks’ Net Profits Decline
The majority of large banks operating in the Czech Republic have to face profit losses for the business year 2013.
April 1, 2014
Austria: Industrial Production Loses Momentum
Austrian industry loses some momentum after strong growth at the start of the year.
March 28, 2014
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RBI to Keep Hungarian and Ukrainian Affiliates?
Raiffeisen Bank International (RBI) considers keeping its affiliates in Hungary and Ukraine.
March 27, 2014
Moody´s Downgrades Bank Austria
The U.S. rating agency Moody´s takes a closer look at European banks. Due to the worsening asset quality of Bank Austria´s parent company UniCredit, Bank Austria´s rating was cut to “Baa2”.
March 22, 2014
Hungary: Jurisdiction Affects FX Loans and Banks
Hungary’s constitutional court will exert influence on FX loans.
March 18, 2014
Bank Austria to Focus on Growth Markets in the Future
Because of the high value of write-offs Bank Austria, CEE affiliate of Italian UniCredit, had to face record losses amounting to € 1.6bn. CEO Willibald Cernko, however, does not consider the bank having made any mistakes in the past.
March 12, 2014
Losses Running into the Billions for Bank Austria
Bank Austria’s results for the 2013 financial year.
March 11, 2014
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Banks Striving to Leave Ukraine
While Austrian insurance companies intend to stay on the Ukrainian market banks are facing write-offs running in the billions.
March 5, 2014
Austria: Solid Growth and Recovery in Industrial Industry
Austria’s industrial recovery continues.
March 3, 2014
Ukraine: Austrian Banks Reopened Branches
After the political disaster in the Ukraine all bank shops in the country’s capital Kyiv have opened again on Monday.
February 25, 2014
RBI Closes All Affiliates in Kyiv
Because of the most recent violent outbreaks in Kyiv the Ukrainian affiliate of Raiffeisen Bank International (RBI) has closed its affiliates in the country’s capital
February 21, 2014
Hypo Disaster: Who Are the Beneficiaries?
International investment companies, funds and domestic banks are the major recipients of the billions of Euros in the Hypo Group disaster.
February 19, 2014
Austria: Economic Upturn Still in Standby-Mode
According to the analysis of the economic indicator of Bank Austria, there is moderate growth and hope for the first quarter in 2014.
February 17, 2014
Cernko: Wealthy to Support R&D in Austria
The CEO of Bank Austria calls upon the Austrian government to take into consideration the funding of research and development by wealthy individuals and regard this as part of their “tax duty”.
February 12, 2014
Sale of Bad Assets: UniCredit Under Pressure
The parent company of Bank Austria, the Italian lender UniCredit, wants to sell its risky assets as soon as possible. Insiders report that UniCredit wants to sell its “bad bank”.
February 8, 2014 · Updated: February 8, 2014; 14:12
Raiffeisen Bank International: Moody´s Downgrades Ukrainian Subsidiary
Due to the political instability, the U.S. rating agency lowers the rating of Aval Bank, the Ukrainian affiliate of Austrian RBI (Raiffeisen Bank International).
February 5, 2014
„Hungary and Austria Must not Become Enemies“
Ewald Nowotny, governor of the Austrian National Bank (OeNB) wants a solution between the Hungarian government and the Austrian banking sector.
February 4, 2014
Bank Austria: Massive Staff Reduction Ahead
Until 2025, Bank Austria will reduce its workforce by 4,000 employees in Austria, Doris Tomanek told the Austrian daily „Presse“. Since 2005, Doris Tomanek works as head of Human Resources CEE.
January 25, 2014
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