The latest banking industry and company news and analysis from FriedlNews
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Austrian Banking Industry Headlines

RBI’s Sale of Polbank will Determine Share Price Recovery - UBS Analysts

Analysts of UBS have affirmed the "neutral” rating and EUR 13 (USD 14.794) target price for shares of listed bank Raiffeisen Bank International (RBI) in a sector study. The Austrian bank is moving in the right direction it was noted. The sale of the Polish arm Polbank will be of significance for the recovery of the share price.


Heta Bad Bank Sees Some Impact of Croatian Bill on Selling Price of Balkan Unit

Heta, bad bank of nationalized lender Hypo Alpe Adria, will "possibly” see some impact from the CHF loans conversion bill in Croatia on the price it will get for its Balkan assets from Advent/EBRD, a Heta spokesman told APA on Monday afternoon. Still, "no details are available yet,” he said.

October 12, 2015

Russian VTB Bank Moves European Headquarters from Vienna to Frankfurt

According to Chairman Andrei Kostin, VTB Bank - the second largest universal bank of Russia - is moving its European headquarters from Vienna to Frankfurt. "I intend to restructure the European holding company and to move the headquarters from Vienna to Frankfurt." he told the German daily Handelsblatt. "I love Vienna, where there is a great opera, the banking supervision there is okay, but Frankfurt is the banking capital of Europe," Kostin justifies his withdrawal from Vienna.

October 12, 2015

Volksbanken Want to Pay Back EUR 300 Million Ahead of Schedule

The reorganization of the Volksbank group may be carried out faster than thought. Volksbank Wien-Baden, successor of the top institution ÖVAG since the time when the bad bank Immigon was formed, will pay back EUR 300 million (USD 336 million) in debts to the state earlier than planned, one, or two years ahead of schedule (2023), according to the head of the bank Gerald Fleischmann.

October 8, 2015

ÖVAG Bad Bank Immigon Completes VB Leasing Sale

Immigon, bad bank of ÖVAG, has completed the sale of VB Leasing to BAWAG PSK, both parties said.

October 6, 2015

Meinl Bank withdraws from Czech Republic

Meinl Bank has withdrawn from the Czech Republic after a 3-year presence in the country, the Czech free business paper E15 reports. The bank spokesman Thomas Huemer confirmed the news Meinl Bank closed its sole Czech branch as of end of September.

October 5, 2015

Parliament to Ratify Austria’s Participation in Asian Infrastructure Investment Bank

The agreement on Austria’s accession to the Asian Infrastructure and Investment Bank (AIIB) with a capital share of USD 500.8 million is awaiting ratification by Austria’s parliament at the moment.

October 2, 2015

Sale of Kommunalkredit - EUR 142 Million Sale Price Confirmed

The Ministry of Finance in Vienna revealed that income from partial sale of Kommunalkredit Austria amounts to EUR 142 million (USD 157.8 million). The sale (to a consortium of German investment banker Patrick Bettscheider) is regarded by the ministry as another step in resolving the financial crisis.

September 29, 2015

RBI Confirms the Sale of Czech Subsidiary Zuno to ABH Holdings

As one of the announced steps in the implementation of its emergency measures, Raiffeisen Bank International AG (RBI) has reached an agreement with ABH Holdings S.A., the Luxembourg-based parent company of the Alfa Banking Group, to sell its direct bank Zuno Bank AG.

September 24, 2015

Austria Seeks Legal Basis for Heta Bond Redemption with Discount - Bill

Austria plans to provide the legal basis for a cheaper redemption of bonds of bad bank Heta (formerly Hypo), guaranteed by the Carinthia region, so that individual creditors would not be able to block the plan. Consequently, the respective bill assumes a two-third majority would be required for decisions concerning the entirety of Heta bonds covered with the guarantees of Carinthia.

September 23, 2015