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VBAG

Dispute Over Bank Taxes

In Austria, only 82 of 787 banks have to pay bank taxes. Above all, the Raiffeisen sector and the Volksbanken sector are excluded.

August 2, 2012

Austrian Bank Aids: Losses Total € 3.4bn

The nationalized banks are a substantial risk factor for Austria´s budget. Losses may increase further.

July 23, 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

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

Koren will be new CEO of VBAG

Starting from 1 september 2012, Koren becomes the new head of VBAG´s management board. New member of the board Rainer Borns should represent a „strong connecting link to regional Volksbanks“.

July 17, 2012

VBAG Buys Back € 236m Hybrid Bonds

The Buyback program generates book profits of € 130m.

July 17, 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

Consolidation in CESEE Banking Industry Ahead

The Austrian Central Bank (OeNB) expects a wave of takeovers in the banking industry in Central, Eastern and Southeastern Europe. Many banking groups will withdraw from there, OeNB says.

July 13, 2012

Sberbank to Provide € 300m for VBI

The Russian Sberbank intends to inject € 300m into the Austrian VBI (Volksbank International). Growth into the CEE region should be promoted.

July 13, 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

Austrian Banks Fulfilled EBA Requirements

The European Banking Authority published today an overview report on the implementation of the capital exercise. The vast majority of the banks in the sample meet the required ratio of 9% Core Tier 1 (CT1).

July 11, 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

CESEE: „Nothing Has Changed“

Walter Rothensteiner, CEO of Austrian Raiffeisen Zentralbank, is convinced of the success of the expansion into the CESEE region.

June 26, 2012

„ÖIAG Should Manage Banking Interests“

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

June 23, 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

RZB Wants to Keep Austrian Deposit Protection

Raiffeisen Zentralbank´s CEO Walter Rothensteiner is skeptical of the European deposit protection proposal.

June 15, 2012

Major Loss at VBI

The Sberbank-owned Volksbank International (VBI) recorded a net loss of € 95.5m last year.

June 15, 2012

VBAG to Repurchase Hybrid Capital

Austrian VBAG is inviting holders of the Notes to offer to sell any and all of their Notes to ÖVAG for cash.

June 14, 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

Austrian Banks Cut Exposure in Spain

Erste Group, Raiffeisen Bank International (RBI) and KA Finanz have the highest exposure among Austrian banks.

June 11, 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

Austrian Budget Target Endangered

In spite of decreasing revenues and rising expenses, Austria´s Minister of Finance Maria Fekter expects to reach the budget target.

May 30, 2012

Exposure in Eastern Europe Remains Austria´s Weak Point

The Commission of the European Union warned Austria of the big exposure of domestic banks in Eastern Europe. Moreover, the austerity package was criticized.

May 30, 2012

VBAG Achieves Turnaround

Stabilisation measures for the partly nationalized Austrian VBAG take effect: satisfactory first quarter result.

May 29, 2012

Substantial Losses at Volksbanken

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

May 26, 2012

VBAG and Investkredit Announce Repurchase of Hybrid Capital

Austrian Volksbanken-Aktiengesellschaft (VBAG) and Investkredit Bank AG (IK) announce offers to repurchase hybrid capital, like other banks did before.

May 22, 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

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

Raiffeisen Against Bank Insolvency Act

The Austrian government announced to introduce a bank insolvency act in summer. Raiffeisen wants a European solution.

May 9, 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

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

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

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

S&P: Austrian Banks Still Weakly Capitalized

The U.S. rating agency S&P regards Austrian banks to record high capital shortfalls.

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

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

VBAG to Cut Capital by 70%

The financially stricken Austrian VBAG will cut its equity capital by around 70 and then top it up again with state aid next month as part of a previously announced bailout.

March 28, 2012

Koren to Become VBAG´s New CEO?

Finance Minister Maria Fekter aims to nominate the former Vice-CEO of Bawag as board director of VBAG.

March 24, 2012

Rothensteiner Against Bank Insolvencies

Raiffeisen Zentralbank´s CEO Walter Rothensteiner is against the discussion about bank insolvencies.

March 24, 2012

New Executives for VBAG

The banking group VBAG, in which the Austrian state is about to take a stake of up to 49 percent, will get new management after losing nearly € 1.4bn ($1.85bn) last year.

March 22, 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

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

Bank Insolvency Act to be Finished by Summer 2012

According to the government´s plans, the Austrian financial market authority (FMA) should obtain more competences.

March 7, 2012

Bank Taxes: Nowotny Supports Government

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

March 7, 2012

Fitch Confirms Rating for VBAG

The U.S. rating agency retains the A rating for the fourth largest Austrian bank.

March 7, 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