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Austrian Banking Industry Headlines

Heta Moratorium: EUR 200 Mln Court Suit Starts on Thursday

Heta, bad bank of former Hypo Alpe Adria, is facing nine court suits from German investors at the regional court in Frankfurt with total claims for a nominal EUR 2.2 billion. The proceedings on the first case are set to start this Thursday.

Yesterday

Cerberus and Bank Austria Held Further Talks Concerning Branch Network

UniCredit, parent of Bank Austria, and Cerberus fund, the US shareholder of BAWAG Bank, reportedly held talks concerning the branch network of Bank Austria, the daily Standard wrote citing BAWAG sources.

February 5, 2016 · Updated: February 5, 2016; 19:45

Bank Austria Supervisory Board Approves Zadrazil as Future CEO

Bank Austria supervisory board approved the appointment of Robert Zadrazil as the bank's new CEO in Friday's sitting. Zadrazil will replace incumbent Willibald Cernko as of March 1 as the head of UniCredit's Austrian unit and take over responsibilities also of retail and corporate banking head Helmut Bernkopf. Bernkopf will step down as a result of an "amicable” settlement with the end of March.

February 5, 2016

Heta Creditors Stick Together

The creditors of Heta, the bad bank left after the winding down of Hypo Alpe Adria bank, who demand the repayment of the full amount they are owed for Heta bonds, stick together, Kurier daily writes. Their agreement on how to proceed has been extended until summer, although initially it was supposed to expire by 6 March.

February 5, 2016

Erste Group Moving to New Headquarters at Vienna Central Station

By March employees of Erste Group will have moved into the new head office of the company in Vienna, as Erste Holding and Erste Bank are relocating from various locations to one Erste Campus near Vienna Main Train Station. Most of the real estates of the bank have been already sold, but the bank keeps its former head quarter at Am Graben and the IT office.

February 5, 2016

Social Ministry Keeps Looking for Solutions for Bank Austria’s Employee Transfer

Bank Austria wants to transfer 3,300 active employees from its own social insurance fund into the general social insurance fund ASVG, quoting valid laws. The Social Ministry is looking for other solutions for the staff of the bank though, the Ministry told APA.

February 4, 2016

RBI Shares Shoot Up 9.6 Percent after Preliminary Figure Statement

After presenting preliminary figures, Raiffeisen Bank International (RBI)’s share price shot up in morning trade on Vienna Stock Exchange, soaring 9.59 percent to EUR 12.40 (USD 13.46).

February 2, 2016

RBI: Preliminary 2015 Consolidated Profit of EUR 383 Million

Raiffeisen Bank International AG (RBI) announces a preliminary 2015 consolidated profit of EUR 383 million. This is above the guidance previously given, primarily due to lower than expected net provisioning for impairment losses of EUR 1,266 million, 28 percent below 2014. This development was spread across a number of markets. General administrative expenses were EUR 2,915 million, 4 per cent below the prior year. Transformation program costs in 2015 were approximately EUR 90 million, in line with guidance. FY 2015 guidance had also included goodwill impairment charges and risk costs amounting to EUR 124.1 million, which were reallocated to FY 2014 in the course of a restatement.

February 2, 2016

Investor Ruling: Meinl Bank Assets Pawned at OeNB

The Meinl Bank has not fulfilled a verdict adjudicated against the bank in a case concerning investor claims against former real estate manager Meinl European Land (MEL). As a result the assets of the bank deposited with other banks have been pawned. A sum of EUR 3 million (USD 3.27 million) which Meinl Bank had deposited with the central bank (OeNB) (and exceeding the minimum reserve exempt from pawning) has been seized, Standard daily reports.

February 1, 2016

Bank Austria: Reshuffle on Top Management Level Continues

The reshuffle on top management level at Bank Austria continues. After CEO Willibald Cernko stepped down, now also board member Helmut Bernkopf in charge of Private Banking seems to be about to resign, Krone daily reported on Saturday, although the news is still unofficial, and the bank’s spokesperson did not confirm the news.

February 1, 2016