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Moody’s: Downgrade of Erste Group Likely
The Austrian bank will likely be downgraded from “Baa1” to “Baa2”, the rating agency says.
November 4, 2011
OMV Considers € 1.5bn Credit Line
The Austrian oil and gas company is negotiating a major credit facility with a term of five years.
November 4, 2011
S&P: Austrian Energy Suppliers more Robust than Competitors
Southern European providers are especially affected by the current debt crisis. Austrian companies “seem to be immune”, the rating agency says.
November 3, 2011
Austrian Households Control Assets worth € 471bn
Despite a declining savings rate, households remain the most important provider of capital to domestic banks.
November 3, 2011
Uniqa Expects Loss of € 300m
The Austrian insurance group is writing down all of its Greek government bonds at fair value in the third quarter and will therefore not break even in profit on ordinary activities as originally anticipated.
November 3, 2011
Losses for Kommunalkredit Probable
The nationalized Austrian Bank has to build major provisions. Write-offs up to € 500m are possible.
November 1, 2011
Nowotny Expects Lower Growth Rates
The head of the Austrian Central Bank (OeNB) Ewald Nowotny lowers the growth estimation for the Austrian economy.
October 31, 2011
Unequal Distribution of Wealth in Austria
The richest 10% of Austria´s population possess 54% of the monetary wealth. Regarding real estate, inequality is observed too.
October 30, 2011
Reactions of Austrian Banks to Capital Buffer Requirements
Raiffeisen Zentralbank (RZB) needs € 1.9bn, Volksbank Group (VBAG) € 972m and Erste Group € 59m in order to comply with the EBA’s new requirements.
October 27, 2011
Victory AG Sold to China
The Austrian investor Ronny Pecik, who recently acquired a minor stake in Telekom Austria, sold his investment company to China. Raiffeisen and Hypo Group still have uncovered loans.
October 22, 2011
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