Banks

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Erste Group Sold Over EUR 1.1 Billion Non-Performing Loans in 2014

In 2014 Erste Group got rid of major packages of non-performing loans. Over the year the bank sold EUR 1.1 billion (USD 1.25 billion) in non-performing loans (2013: EUR 0.7 billion). In the fourth-quarter alone EUR 575.2 million in non-performing loans were sold. The current volume amounts to EUR 10.9 billion.

February 27, 2015

Goldman Sachs Raises Profit Forecasts for Erste Group

Securities experts from US investment bank Goldman Sachs have raised their profit forecasts for Erste Group.

February 27, 2015

180 Heta Employees Going to Hypo Group

The former Southeast European unit of Carinthian bank Hypo, Hypo Group Alpe Adria (HGAA), sold recently to US investment fund Advent will keep its head office in Klagenfurt. Heta Asset Resolution, the successor of Hypo Alpe Adria, declared on Thursday that 180 employees of Heta would transfer to the Klagenfurt-based Hypo Group.

February 26, 2015

RBI May Face Obstacles Selling Polbank

Listed bank RBI may encounter unforeseen obstacles in the planned sale of its Polish unit Polbank, the daily Standard writes Thursday.

February 26, 2015

Hypo/Heta: Bonds Worth EUR 950 Million Mature in March

Heta, the liquidation unit created from Hypo Alpe Adria bank, will have to redeem a loan tune of EUR 950 million in total in March, dailies Standard and Krone report citing a bank insider.

February 23, 2015

Supervisors of Large Banks to Meet Next Tuesday

Austria’s large banks and other banks important for the sector will face higher capital specifications. On Tuesday the financial market stability board, made up by central bank, financial regulator, Finance Ministry and fiscal council representatives, is going to meet to discuss the matter and potentially agree on recommendations.

February 20, 2015

RBI's Withdrawal from Poland Encounters Obstacles

The complete sale of Raiffeisen Bank Polska by Raiffeisen Bank International (RBI) may be delayed until the IPO of the Polish subsidiary economic news agency Bloomberg announced on Thursday. The Polish Financial Supervision Authority (KNF) wants RBI to keep its promises made at the time when it decided to enter Poland.

February 19, 2015

Moody's Cuts RBI Bank Ratings

Listed bank RBI had its long-term debt rating cut to Baa2 from Baa1 and the BFSR rating to D from D with outlook negative, ratings agency Moody's said.

February 19, 2015

Gribkowsky Pays EUR 11 Million to BayernLB

According to ‘Manager Magazin’, the former manager of BayernLB Gerhard Gribkowski has paid the bank EUR 11 million (USD 12.5 million). This refers to Gribkowsky selling the rights of BayernLB in the Formula1 races to investment company CVC cheaply and allegedly taking in return a EUR 44 million payment from Formula 1 head Bernie Ecclestone.

February 19, 2015

RCB Analysts Raise Target Price for Erste to EUR 24.0

Securities experts from Raiffeisen Centrobank raised their target price for shares in Erste Group from EUR 21.5 to EUR 24.0. Their recommendation for the stock is "Hold”.

February 17, 2015