Financial Industry

Erste Group Hungary Aims to Become Top Corporate Finance Advisor

The Hungarian arm of Erste Group Bank wants to become one of the top three banks in terms of corporate finance by 2020 in Hungary, it follows from a statement by head of corporate banking of Erste Bank Hungary (EBH), Richard Szabados.

July 25, 2016

Heta Bad Bank Sells Iconic Holiday Inn Sarajevo Hotel

Bad bank Heta sold the Holiday Inn hotel in Sarajevo to tourism group Europe d.d., the company said. The iconic Holiday Inn Sarajevo was home of foreign correspondents during the 1984 Winter Olympics and throughout the siege of Sarajevo during the Bosnian War. The price was not disclosed.

July 20, 2016

Erste Group Expects Q2 Net Profit of about EUR 560 Million

Erste Group expects to post net profit of approx. EUR 560 million in Q2 16, raises guidance for 2016 to ROTE >12% (up from 10-11%).

July 14, 2016

Bank Tax: Reduction and One-Off Payment are Positive Signals

Austria's new regulations reducing the bank tax and introducing a one-off payment from banks are "a positive signal,” central bank governor Ewald Nowotny said after the Austrian government reached an agreement on the planned changes.

July 13, 2016

Withdrawal Fees: Finance Ministry Insist on Providing Clear Information

Austria's Finance Ministry would insist on providing clear information about cash withdrawal fees in the form of cash machine signage, the ministry's spokesman said.

July 13, 2016

Stock Markets Including Vienna Stocks Nosedive on Brexit Vote

The Vienna stocks are plummeting on Friday, in line with historic losses on other European and international markets, after the Brits voted to leave the EU in Thursday's referendum.

June 24, 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

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

Ex Hypo Alpe Adria SEE Units Post Consolidated Loss of EUR 675 Million

The southern European bank units formerly owned by Hypo Alpe Adria, and now in the hands of US equity fund Advent and the EBRD, posted in the first year under the new owners, in 2015, a huge consolidated loss of EUR 675 million. In 2014 the loss totalled EUR 97.4 million.

May 27, 2016

Split-Off of UniCredit's CEE Unit from Bank Austria is Nearing

The split-off of eastern European bank business from UniCredit subsidiary Bank Austria, and its transition to Milan, is nearing. Bank Austria’s management board already agreed to the step; now an auditor has to evaluate the measure and then the supervisory board is to decide. The plan is to be filed with the court in June.

May 6, 2016
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