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Austrian Financial Services Headlines

Western Balkans Countries Discussed Investment, Jobs and Integration in Vienna

The World Bank and the Vienna Institute for International Economic Studies (wiiw) held a high-level policy dialogue on ‘Investment, Jobs and Integration’ last week. Ministers and senior officials from the Western Balkans region as well as policy experts from international organisations and the business community gathered to discuss the challenges the region is currently facing, in particular the high unemployment rate, low international competitiveness, and lack of modern infrastructure.

July 8, 2016

Moody’s Downgrades Long-Term Credit Rating of Austria

Moody’s has downgraded the long-term credit rating of Austria, from "Aaa” to Aa1. In January 2012 rating agency Standard & Poors had reduced Austria’s rating from AAA to AA+, whereas in February 2015, Fitch did the same.

June 27, 2016

Closing of Visa Takeover Brings EUR 97 Million Pre-Tax Profit to RBI

The expected pretax profit from the cash payment of the transaction will be EUR 97 million. It should be booked under net income from financial investments in the second quarter of 2016. Visa Inc. had announced the takeover of Visa Europe Ltd. in November of 2015. The cash payment of this one-off effect will be split between Slovakia, Romania, Czech Republic, Poland, the RBI head office, Croatia, Bulgaria, Hungary and Zuno.

June 21, 2016

VSE and CEESEG: Heimo Scheuch to Serve as New Chairman of the Supervisory Board

Changes in the supervisory board of Wiener Börse AG and CEESEG AG have taken place and a new executive committee was elected. Heimo Scheuch, CEO of Wienerberger AG, will serve as Chairman of the Supervisory Board. Angelika Sommer-Hemetsberger, member of the Management Board of Oesterreichische Kontrollbank AG, was elected Vice-Chairwoman of the Supervisory Board.

June 15, 2016

Tax Payers to Finance AvW Bankruptcy after all?

Tax payers may have to finance the bankruptcy of Carinthian financial company AvW after all, Presse daily reports in its online issue. The damage is estimated at EUR 148 million (USD 168.2 million).

June 8, 2016

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

VSE: US Interest Rate Decision Likely to Increase Appeal of Austrian Stocks

The Vienna Stock Exchange can look back at a year of solid developments on the stock market in 2015. The uptrend in equity trading volumes has now been sustained for more than two years: trading volumes were up by 24.3%; the ATX gained 11.20%, and innovations in bond trading were the highlights of the year. Market capitalization on the Vienna Stock Exchange reached EUR 86.28 billion in December 2015. This was a gain of 7.86% over the year-end figure of 2014.

December 18, 2015

RBI Sells Slovenian Subsidiary to US Private Equity Firm Apollo

Raiffeisen Bank International AG (RBI) has reached an agreement to sell its Slovenian bank, Raiffeisen Banka d.d., to Biser Bidco, which is managed by an affiliate of Apollo Global Management, LLC. The purchase price has not been disclosed. The expected deconsolidation effect on RBI’s consolidated result will amount to minus EUR 49 million.

December 10, 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

Hungarian Central Bank Buys Austria's 68.8% Stake in Budapest Stock Exchange

Austrian shareholders CEESEG and OeKB sell their 68.8% stake in Budapest Stock Exchange to Hungarian Central Bank for €42m ($45m), the Hungarian central bank confirmed officially.

November 24, 2015