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Sale of VBI to Be Signed in July
The Austrian Volksbanken Group and Sberbank have come close to an agreement on the sale of the Eastern European bank. The transaction price will be € 700m.
July 5, 2011
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Volksbanken Group to Sell Stake in RZB
Österreichische Volksbanken-AG Group (VBAG) will sell its shares in Raiffeisen Zentralbank for almost € 500m. The redemption of state capital and the sale of VBI have been delayed.
June 28, 2011
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Fitch Upgrades Individual Ratings of Austrian Banks
The “A” rating of the big Austrian banks has been confirmed. The individual rating of Erste, RBI and Bank Austria was upgraded.
May 25, 2011
ÖVAG: Strong Provisional Results for Q1 2011
Österreichische Volksbanken-AG Group (VBAG) expects a quarterly result of € 32m. The AGM concludes the combination of VBAG and Investkredit.
May 19, 2011
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ÖVAG in the Black Again
The central institution of the Austrian Volksbanken was able to achieve a profit of € 67.6m in 2010 after losses for € 24.5m reported in 2009.
May 6, 2011
Al Jaber in Distress
Saudi investor Mohamed Al Jaber has to fight on several fronts in Austria. Kneissl awaits restructuring, loans are due.
April 23, 2011
Capital Requirement of Austria's Banks: € 19bn
According to the Austrian National Bank, domestic banks needed at least € 19bn in equity capital by 2010 to meet capital requirements.
April 21, 2011
ÖVAG Group Achieved Turnaround in 2010
Operating results rose by 34% against 2009, profit after taxes was € 55m. The government participation capital will be refunded this year.
April 18, 2011
ÖVAG to be Split
Resolution to transfer the banking business of Österreichische Volksbanken-Aktiengesellschaft (ÖVAG) to Investkredit Bank AG by way of de-merger planned for 19 May 2011.
April 16, 2011
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ÖVAG Participates in the Stress Test
Unlike last year, the Austrian Volksbanken group (ÖVAG) is to participate in the EU-wide stress testing of banks. 5% equity is assumed as lower limit.
April 9, 2011
ÖVAG Bundles Real Estate Activities
Austrian Volksbanken-AG (ÖVAG) bundles its real estate activities in the competence center "VB Real Estate Services”.
March 24, 2011 · Updated: March 24, 2011; 01:17
VBI: Romania Remains a Weak Point
The foreign holding of the Austrian Volksbanken group has to cope with credit risk provisions for € 160m from its Romanian subsidiary.
March 16, 2011
High Losses for ÖVAG-subsidiary
VBI, the subsidiary of foreign equity holding company of the Austrian Volksbanken-Group, realized losses in 2010 amounting to € 21.8m.
March 4, 2011
VBI: Purchase by Sberbank is Looming
The sale of the Eastern European holding company of the Austrian ÖVAG is taking shape. Even Chinese investors are interested.
February 25, 2011
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Bank Tax is "untimely" for ÖVAG
The Austrian Volksbank Group's CEO, Gerald Wenzel, expects expenditure of € 40m due to the bank tax.
February 8, 2011
Bank Assistance is Lucrative for the State
Contrary to fears, revenues of the bank rescue package more than double the refinancing costs.
January 26, 2011
Volksbank: Romania Lowers Results
The losses in Romania constitute a distinct disadvantage, especially for the sale process of the East-Holding of the VBI.
January 19, 2011
Volksbanken to Sell Share in RZB
According to newspaper reports, the Austrian Volksbanken Group sells a 6% share on Raiffeisen Zentralbank.
January 17, 2011
Volksbanken Profitable Again
The Austrian Volksbanken Group generated profits in 2010. The state’s money should be repaid this year.
January 7, 2011
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VBI Romania is a Source of Worries for ÖVAG
Volksbank International (VBI) is to be sold by the Austrian Volksbanken Group. The Romanian subsidiary keeps the group from doing so.
December 31, 2010
ÖVAG: Sales Process of East-holding is Under Way
For the coming year, the Austrian Voksbanken are planning to restructure the Group. A buyer is currently being sought for the East-holding.
December 30, 2010
Russia Reaches for Volksbank International
VBI, the holding company for the Eastern interests of the Österreichischen Volksbanken, is for sale. Russian parties are interested.
December 15, 2010
Extensive Refinancing Needs by Austrian Banks
Due to the maturity of large loan volumes, Austria's banks will need at least € 20bn next year.
December 14, 2010
Volksbanken: State Aid to be Repaid
The Austrian Volksbanken (ÖVAG) will reportedly pay back more than the agreed € 300m of state aid in 2010.
December 8, 2010
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Erste Group is Holding Repayment of Public Funds
The participation capital granted by the State following the bank crisis will only be paid back by the Erste Group after specifications of Basel III are set.
November 30, 2010
Volksbanken Group Announces Q3 Results
Österreichische Volksbanken-AG Group (VBAG) returns on a positive growth path. The turnaround has been successfully completed.
November 22, 2010
Merger Between Volksbanken and Investkredit
The merger between the Österreichischen Volksbanken AG (ÖVAG) and Investkredit, the subsidiary acquired in 2005, shall be in effect by July.
November 16, 2010
Volksbank: Greater Efficiency by Downsizing
The Austrian Volksbank AG (ÖVAG) has not been able to reach a cooperation with other domestic banks. The deal with the BAWAG failed. Now, the Volksbank is looking for alternatives.
October 30, 2010
CEE Banking Sector Report: Still More Credit Losses in the East
The number of bad loans is expected to increase considerably in some Eastern European countries, a Raiffeisen-analysis shows.
September 21, 2010
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Volksbank Vorarlberg: High Losses in Switzerland
Commitment to financial advisor JML did not go as desired: losses up to 3.9 million euro
September 15, 2010
Investkredit and ÖVAG: As Of Now, They Have a Common Board
In addition to CEO Gerald Wenzel, Wolfgang Perdich, Martin Fuchsbauer and Michael Mendel are also members of the common board. The merger of both financial institutions is to take place in early 2011.
September 15, 2010
VBAG Group result for the first half of 2010: positive development continued
In the second quarter of 2010, Österreichische Volksbanken-AG (VBAG) Group confirmed the turnaround of the first quarter.
September 3, 2010
ÖVAG does not want to stay solo
The enthusiasm of authorities, central bank and the federal government is limited for the decision of the ÖVAG owner to continue without a partner and to merge Investkredit and ÖVAG.
June 25, 2010
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CA Immobilien Anlagen AG to acquire Europolis AG
CA Immobilien Anlagen AG agreed with Österreichische Volksbanken-AG Group to acquire all shares in Europolis AG.
June 25, 2010
CA Immo attends to Europolis AG
Austrian Volksbank AG (ÖVAG) will conclude on Thursday its business of selling its real estate subsidiary Europolis to the CA Immo.
June 24, 2010
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