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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
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