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VBAG

Austrian Bank Tax Paid By Bank´s Customers

The Austrian Institute of Advanced Studies (IHS) reports that it is “likely” that banks shift the burden to their customers.

September 26, 2013

Austrian Banking Sector Proves Stable

The U.S. rating agency Fitch confirms the A-rating for Erste Group, RBI (Raiffeisen Bank International), Bank Austria and VBAG.

September 18, 2013

Austria Must Implement Liquidation Mechanism for Banks

In order to minimize fiscal losses, Austrian problem banks should be liquidates soon, IMF claims. In this case, Austria would not reach its fiscal targets in the next years.

September 13, 2013

IMF: Praise and Criticism for Austria

According to the IMF´s country report, Austria´s main problem is the fiscal situation.

September 11, 2013

Eight Austrian Banks to be Supervized by ECB

The European Central Bank will supervise 130 banks in the Eurozone. 18 German and six Austrian banks will have a new supervision authority.

September 6, 2013

VBAG to Start Selling Process of Volksbank Malta Ltd.

The Austrian VBAG has started the selling process of its affiliate Volksbank Malta Ltd. (VB Malta).

September 5, 2013

Austrian Banks Register Growing NPL

The advisory group pwc has issued a new report on the asset quality of Austrian banks. In terms of asset quality, Hungary and Romania are performing worst.

September 5, 2013

Austrian Banking Sector Burdened Heavily With NPL

In total, non-performing loans held by Austrian banks come at € 150bn. This corresponds to 48% of Austria´s GDP.

September 2, 2013

VBAG: First Half Year with Losses of € 87m

Partly-nationalized VBAG made net losses in the amount of € 87m in the first half of 2013. In the first half year of 2012 high book profits caused profits to be slightly above zero.

August 29, 2013

Austria: Raiffeisen Group Takes Over VBAG Loans

Loans worth more then € 748m will be taken over by Raiffeisen Group

August 28, 2013

Austria: State-Owned Bank to Receive Further € 200m

The state subsidy for bad bank of Kommunalkredit has increased to more than € 2bn.

August 13, 2013

Kommunalkredit to be Liquidated

The EU Commission has approved the plans submitted by the Austrian government. The nationalized bank will need further state aids.

July 20, 2013

Austrian Banking Package: Major Burden for Taxpayers

In total, the banking package has caused costs of more than € 6.4bn. Austrian taxpayers must expect further costs.

July 19, 2013

VBAG And RZB Group Reach An Agreement

VBAG and RZB Group conclude contract on the aquisition of assets.

June 27, 2013

VBAG and VR Leasing Launch Sale Process

VBAG and VR Leasing launch sales process for VB-Leasing International.

May 22, 2013

Austria: Domestic Banks Reject Taking Over Hypo Group

The task force, appointed for Hypo Alpe Adria Group by the government, held a meeting again today. It is only two more weeks until the suggestions have to be presented to Brussels. Domestic banks reject participating in a bad bank.

May 13, 2013

Austria: Sale of Kommunalkredit Still in Limbo

Denationalization of Kommunalkredit not yet completed.

March 29, 2013

VBAG: Business Operation Down by € 131m

In 2012 single entity result negative at EUR -131 million.Net interest income decreased to € 220m. Total assets dropped by € 13.5 billion to € 27.7bn. Further losses are expected for 2013.

March 28, 2013

VBAG to Sell Malta Affiliate

VBAG is going to sell its small Malta subsidiary in the course of the EU downsizing program which the banking institute has commited to.

March 23, 2013

Austria: Investigation Against VBAG Board Members

The Austrian Justice is currently investigating a case of the Austrian Volksbanken AG (VBAG) where three former board members are accused of having forged balance sheets. Board director CEO Michael Mendel is not among the suspects.

March 18, 2013

VBAG is Forced to Continue Radical Downsizing Measures

The partly nationalized and financially stricken Austrian banking group has to implement a painful restructuring concept. At the moment, VBAG sells its properties.

March 15, 2013

Austria: Negative Outlook for Banks

Moody’s current analysis paints a rather bleak picture about the situation of the Austrian banking industry.

March 8, 2013

Austria: RZB About to Take Over Assets of VBAG?

The possible takeover by RZB is still kept in the dark. RBI, however, might absorb Citibank Romania.

March 8, 2013

Austrian Construction Group Alpine Rescued

For the time being, Alpine´s bankruptcy could be prevented. The creditors agreed on a partial waiver.

March 4, 2013

Romania As Risk Factor for Austria´s Public Finance

The partly nationalized Austrian banking group VBAG faces difficulties in Romania. The Austrian Ministry of Finance tries to prevent further capital injections into VBAG.

March 2, 2013

VBAG: Major Losses in Romania

The Romanian subsidiary of Austrian VBAG suffers from non-performing loan. Last year proved to be again a difficult one for the Romanian banking system, Raiffeisen Research states.

February 21, 2013

Sberbank Threatens to Sue VBAG

Last year, VBAG has sold VBI (Volksbank International) to Russian Sberbank. Now, Sberbank is highly dissatisfied with the performance of VBI.

February 19, 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

Size of Austrian Bank Aid: € 20bn

Since 2008, the Austrian state has injected more than € 8bn into domestic banks. Guarantees total € 12bn.

February 5, 2013

Alpine: Creditors Face Haircut

The financially stricken Austrian construction company wants its creditors to contribute to the restructuring.

February 2, 2013

VBAG: Raiffeisen Tries to Justify Breach of Contract

In an interview with the Austrian newspaper “Standard”, RZB´s (Raiffeisen Zentralbank) CEO Walter Rothensteiner explains why the banking group did not acquire loas from VBAG.

January 16, 2013

VBAG: High Losses Ahead

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

January 12, 2013

VBAG Records Operating Losses

The Group result was positive only because of one time effects due to accounting regulation. Next year, VBAG expects substantial losses again.

November 30, 2012

Austrians Reject Further Bank Aids

About 61% of the Austrian citizens are against further bank aids by the Austrian state. Economists fear that the bank aids are lost forever.

November 28, 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

VBI Is Now Called Sberbank Europe AG

VBI (Volksbank International), the former Eastern European division of Austrian VBAG was renamed to Sberbank Europe.

November 7, 2012

FMA: „Austria is Open to Blackmail by Banks”

Kurt Pribil, director of the Austrian Financial Market Authority, thinks that the nationalization of banks has shown that the Austrian state is still under pressure.

October 23, 2012

Banking Package: Austrian Opposition Criticizes Government Sharply

Today, the Austrian Audit Court explained that costs may reach up to € 4.8bn.

September 26, 2012

VBAG to Cut More than 1,000 Jobs

Today, the Austrian problem bank announced to sharpen its austerity program radically. Until 2017, VBAG must be downsized to the half of its current size.

September 21, 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

Costs of Austrian Banking Package: € 2.36bn

Since 2008, the Austrian government has resolved rescue packages worth € 21bn. Expenses totaled € 4.169bn, revenues reached € 1.814bn.

September 19, 2012

VBAG Streamlines Management Board

Wolfgang Perdich to step down from Board of Management on 30 September 2012.

September 17, 2012

VBAG Redeems Bonds

The partly nationalized Austrian bank has repaid bonds guaranteed by the Austrian state.

September 14, 2012

Five Potential Buyers for Kommunalkredit

Next year, the nationalized bank should be re-privatized. The sale should be finished until the end of this year.

September 4, 2012

Satisfactory Half Year Result for VBAG

Österreichische Volksbanken-Aktiengesellschaft (VBAG) Group has ended the first six months of 2012 with a result before taxes of € 49m.

August 31, 2012

Fekter Does Not Exclude Further Bank Aids Anymore

Austria´s Finance Minister Maria Fekter admits that the three nationalized banks Hypo Group and Kommunalkredit/KA Finanz may need further capital injections. In the past, Fekter denied the need of further bank aids.

August 23, 2012

VBAG to Sell Container Business

The Austrian partly nationalized bank is said to sell its container leasing business for € 163m.

August 18, 2012

Dispute Over Hypo Group

Despite the relatively good results, the nationalized bank needs further capital injections. What is more, the capital shortfall at Hypo Group is highly controversial.

August 16, 2012

FMA Pushes for Bank Insolvency Law

The Austrian Financial Market Authority increases pressure on the government. Director Helmut Ettl says the Austria needs an insolvency law for banks as soon as possible.

August 7, 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
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