Banking Industry

Russian VTB Bank Moves European Headquarters from Vienna to Frankfurt

According to Chairman Andrei Kostin, VTB Bank - the second largest universal bank of Russia - is moving its European headquarters from Vienna to Frankfurt. "I intend to restructure the European holding company and to move the headquarters from Vienna to Frankfurt." he told the German daily Handelsblatt. "I love Vienna, where there is a great opera, the banking supervision there is okay, but Frankfurt is the banking capital of Europe," Kostin justifies his withdrawal from Vienna.

October 12, 2015

UniCredit: Bank Austria Could See Cut of 1,500 Jobs

Insider sources indicate that Italian bank UniCredit intends to downsize staff worldwide by up to 10,000. The downsizing measures will focus on Italy, Austria and Germany, people in the know revealed towards Reuters. The number of prospective layoffs had been mulled since the beginning of the months.

September 15, 2015

Erste Group Presents Net Profit of EUR 487.2 Million in H1 15

Erste Group closed the first half of 2015 with positive results, reflected in strong improvements in profitability, asset quality, lending and capital. The group reported a net profit of EUR 487.2 million in H1 2015, compared to a negative result of EUR -929.7 million in the similar period last year; all countries except Hungary made a positive contribution to this development. Total assets increased to EUR 197.5 billion, compared to EUR 196.3 billion at the end of 2014. This balance sheet growth reflects a 2.2% advance in net lending to customers compared to the end of 2014, to EUR 123.5 billion, supported by the 1.7% growth in loans to households, 2.0% to SMEs and 5.9% to large corporates.

August 7, 2015

Unsuccessful Kommunalkredit Bidders File Complaint Against Tender

Unsuccessful bidders for the sale of state-owned Kommunalkredit Austria bank have filed a complaint with the commercial court in Vienna, after German investment banker Patrick Bettscheider won the tender.

July 23, 2015

German Creditor Pool Brings EUR 1 Bln Action Against Heta Before Frankfurt Regional Court

The lawsuit demands almost EUR 1 billion and is brought in Frankfurt/Main against asset resolution company Heta. The creditor pool consists largely of German creditors which demand immediate repayment of bonds and promissory note loans.

July 16, 2015

Heta Settlement to Limit Disadvantages for BayernLB

According to rating agency Fitch a settlement between BayernLB, Heta Asset Resolution and the Republic of Austria would limit disadvantages for BayernLB resulting from the liabilities of Heta, successor bank of Hypo Alpe Adria.

July 14, 2015

Moody's Confirms Ba3 Rating for VTB Bank Vienna

Rating agency Moody's has confirmed the long-term rating of "Ba3” for the Austrian subsidiary of the Russian bank group VTB, VTB Bank (Austria).

May 22, 2015

Austrian Bawag Bank to Merge with German Postbank?

According to rumours circulated by German media, Austrian bank BAWAG P.S.K., majority owned by equity funds Cerberus and Golden Tree, might get merged with German Postbank soon.

May 18, 2015

Russian Banks in Austria to be Screened by European Central Bank

The Austrian units of Russian banking giants VTB and Sberbank will be screened by the European Central Bank as a part of pending tests of eight European banks.

May 7, 2015

Erste Bank und Sparkassen Increase Operating Earnings by 16 Percent to EUR 947 Mln

Erste Bank und Sparkassen have concluded the year 2014 with a successful result. Operating Earnings increase from EUR 817.2 million to EUR 947.2 million.

March 6, 2015
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