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Austrian Banking Industry Headlines

Erste Group Set to Sign Hungarian Deal by Mid-June

Listed bank Erste Group wants to sign the deal on the planned acquisition of a stake in its Hungarian unit by the state of Hungary by June 14, CEO Andreas Treichl told a teleconference on Wednesday as reported by Reuters news agency.

Yesterday

Erste Group Surprises with EUR 274.7 Mln Net Profit in Q1

Blue-chip bank Erste Group posted EUR 274.8 million (USD 315.4 million) in Q1 net profit, up by 22 percent y/y and above market expectations for a slight annual decline, the company said in a report.

Yesterday

Austrian Competition Watchdog to Launch Monitoring over Potential Withdrawal Fee

Austrian competition regulator BWB will launch monitoring with an eye to analyzing the potential cash machines withdrawal fees, it was decided after Monday meeting of Finance Minister Hans Jörg Schelling and top officials of the Austrian banks. The monitoring procedure could take months, experts estimate.

May 2, 2016

Raiffeisen NÖ-Wien to Update Its Strategy

Despite significant burden of a EUR 99.3 million (USD 112.8 million) writedown on the one-third stake in Raiffeisen Zentralbank (RZB), Raiffeisenlandesbank NiederösterreichWien (RLB) returned to profits in 2015. 2016 will be still hard. The bank will shift its focus.

April 28, 2016

RLB NÖ-Wien Bank Writes Off EUR 100 Mln for RZB Stake in 2015

RLB NÖ-Wien recorded a profit on its stake in RZB group in 2015, despite the lack of dividend and a nearly EUR 100 million (USD 113.2 million) impairment booked on the stake.

April 28, 2016

RBI Subsidiary Zuno Reduced Loss by 30 Percent to EUR 5.6 Million

Zuno Bank direct banking subsidiary of Raiffeisen Bank International (RBI) in the Czech Republic reduced loss by 30 percent to EUR 5.6 million. In March it turned out that the sale of Zuno to Alfa bank group announced in September last year won't take place.

April 27, 2016

Orban’s Government to Rethink Acquisition of Stake in Erste Bank Hungary

The Hungarian government is to reconsider plans of acquiring a stake in the Hungarian arm of Erste Bank. The Economy Minister Mihaly Varga told Hungarian daily Vilaggazdasag that it may turn out to be more useful, to lower state debts, rather than to buy a 15-percent stake in Erste Bank Hungary.

April 27, 2016

By 2020 State Will Budget EUR 1.6 Billion in Capital Aid for Bad Banks

The federal financial framework for the years 2016-2020 stipulates capital aid to the tune of EUR 1.6 billion (USD 1.8 billion) for bad banks of former ailing banks. A total of EUR 0.5 billion per year have been earmarked for te years 2017 and 2018, whereas EUR 0.3 billion will be set aside in 2019 and 2020 for capital measures.

April 26, 2016

Bawag Brings Easybank Manager Sarközi to Holding

An internal managerial reshuffle is imminent for Bawag bank group. The bank wants Sonja Sarközi, head of the online banking subsidiary Easybank, to switch to management of Bawag PSK, as Chief Innovation Officer. She would be in charge of the digitization and the expansion of the private customer business.

April 26, 2016

Austria Paves Way for EU Basic Bank Account

Austria took a step closer to the introduction of basic bank account as the consumer protection committee passed the bill on consumer account (VZKG), preparing the legal foundations. The draft bill is an implementation of the EU guidelines.

April 22, 2016