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Austrian Banking Industry Headlines

Bank Austria Employees Will Support Potential Strike Over Cost Cuts

Over 2,000 employees of Bank Austria attended a works' meeting on Tuesday at Austria Center. The meeting concerned the savings measures recently announced by parent company UniCredit. Many bank branches thus conducted only the most basic operations.

5 minutes ago

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).


Citi to Advise RBI on Polbank Sale

Raiffeisen Bank International (RBI) wants to restart the process of sale of the Polish subsidiary Polbank in the coming days. RBI has ordered investment bank Citi to look for potential buyers.


Heta to Cut a Few Hundred Jobs in 2016

The successor of Hypo Alpe Adria will have to cut more jobs already next year. This was announced by the head of Heta, Sebastian Schoenaich-Carolath. Particular people who will be affected, will be informed in advance. Anyway, in five years the former Hypo and thus, the employees remaining in "bad bank” are supposed to be dismissed.

November 20, 2015

Wiener Privatbank Wants to Take Over Valartis Bank Austria for EUR 13 Mln

Wiener Privatbank SE wants to acquire the major business areas of Valartis Bank (Austria) AG. Today the company reached a general agreement on the purchase. The purchase price will amount to EUR 13 million Wiener Privatbank announced.

November 20, 2015

Erste Asset Management Merges with Czech Arm

Erste Asset Management GmbH (EAM) and its Czech subsidiary Investicni Spolecnost Ceske Sporitelny (ISCS) have merged. ISCS (managing assets of EUR 7.9 billion (USD 8.4 billion), will maintain its office in Prague. EAM wants to expand its product offer on the Czech market.

November 19, 2015

Foreign Exchange Price Fixing: Erste Group Loses Court Trial

Listed bank Erste Group has lost a court trial at the commercial court. Erste Group had been accused of foreign exchange reference price fixing, by the consumer information association VKI.

November 19, 2015

Bank Austria Negotiates with Alfa over Ukrainian Arm

UniCredit subsidiary Bank Austria continues negotiating with Russia’s Alfa Bank the sale of the Ukrainian subsidiary Ukrsotsbank, even though the stage of exclusive negotiations ended on 7 November.

November 18, 2015

Valartis Bank Could be Sold to Wiener Privatbank

Valartis Bank (Austria), which belongs to the Swiss Valartis group, may be sold to Wiener Privatbank. Reportedly, two other parties interested in the takeover Semper Constantia Privatbank and Bank Winter have lost interest in the transaction.

November 18, 2015

RBI Does Not want to Sell Russian Arm

Raiffeisen Bank International (RBI) affirmed that it did not plan to sell its Russian arm, repudiating press rumours. "We have no intention of selling Raiffeisenbank Russia,” the bank told Reuters. The Russian arm contributes a lot to the result of the bank concern, it was stressed.

November 17, 2015