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Austrian Banking Industry Headlines

ÖVAG Ends With EUR 888 Million Loss - Bad Bank Called Immigon

The partially state-owned Volskbanken AG (ÖVAG) closed its last financial year in its old form with a EUR 887.9 million loss. For the previous year the institution recorded a EUR 223 million loss. Due to the upcoming dismantling of the bank, it was necessary to make drastic write-offs.

April 24, 2015

German Bank Associations Complain to EC About Heta

Representatives of German bank associations met in Brussels on Friday to file a complaint about the moratorium on bonds of Heta, the bad bank that was created in lieu of Hypo Alpe Adria, with the European Commission.

April 24, 2015

RLB Steiermark Posted Profit in Spite of RBI Deficit and Heta/Hypo Burden

Raiffeisen Landesbank (RLB) Steiermark has concluded FY 2014 on a net profit of EUR 5.1 million (USD 5.55 million), even though the bank was affected indirectly by losses of listed Raiffeisen Bank international (RBI) and the loss of subsidiary Hypo Steiermark as a result of the latter’s involvement with Heta.

April 24, 2015

Hypo Lower Austria Books EUR 31.3 Million Loss Due to Write-Offs

Hypo NÖ booked a EUR 31.3 million loss for 2014 due to write-offs for bonds of Heta, the dismantling unit if the former Carinthian Hypo. The write-offs on Heta securities worth EUR 225 million amounted to EUR 64 million (USD 68.6 million) the bank announced on Friday.

April 24, 2015

RBI Set to Sell Polish Unit by Early 2016

Listed bank RBI is set to sell its Polish unit Raiffeisen Polbank by the start of 2016, RBI CEO Karl Sevalda told Reuters news agency on Wednesday evening.

April 23, 2015

Bank Hypo Styria Suffers EUR 27.6 Mln Loss in 2014 Over Heta

Styria-region owned Hypo bank improved operating profit in 2014, but still suffered a net loss, above all due to impairments booked in connection with defunct bank Hypo's follower Heta, shows the annual report.

April 23, 2015

Anadi Wants to Reduce Cost of Acquisition of Hypo Austria Stake

The Indian owners of Anadi Bank are trying to bargain a purchase price reduction for a stake in bank Hypo Austria (the ‘healthy’ part of former Hypo Alpe Adria), daily Standard (Tuesday issue) reports.

April 21, 2015

BayernLB Files EUR 2.6 Billion Complaint Against Carinthia

Bayerische Landesbank (BayernLB), former majority owner of Hypo Alpe Adria (now Heta) has filed a complaint for EUR 2.6 billion against Carinthia, i.e. provinceowned Kärntner Landesholding. The Bavarians want to quote the special law of 2014 which Austria had already cited when it ordered the haircut of Hypo Alpe Adria bank bonds.

April 20, 2015

World Bank Considers Suit Against Austria Over Hypo/Heta Bonds

The World Bank, whose unit IBRD was affected by the haircut for defunct bank Hypo creditors in 2014 in connection with EUR 150 million (USD 158.7 million) subordinate bond, may consider filing a suit against Austria over the issue, the daily Der Standard writes Thursday.

April 16, 2015

Heta: Divestment of SEE Bank Network Hypo Group Alpe Adria Completed

The operational and legal carveout of Hypo Group Alpe Adria AG and its Southeast European network from former owner Hypo Alpe Adria Bank (now Heta) has been completed, the bank announced. The network consists of units in Slovenia, Croatia, Serbia, Bosnia-Herzegovina and Montenegro.

April 15, 2015