The latest financial services industry and company news and analysis from FriedlNews
Page 1/40

Austrian Financial Services Headlines

Neos Contest New Head of Supervisory Board of Hypo Alpe Adria

During yesterday’s session of the Hypo Alpe Adria bank investigative committee, MPs of the NEOS party demanded an explanation as to why Karl Heinz Moser, an auditor, had been appointed head of the supervisory board of Hypo Alpe Adria, after Klaus Bussfeld.

Yesterday

UIAG Plans Further Investments

The Upper-Austrian investment company Unternehmens Invest AG (UIAG) wants to carry out further acquisitions. UIAG is specialized in SME's and holds stakes in the following companies: Pongratz Trailer-Group GmbH (99 percent), All for One Steeb AG (25.1 percent), LCS Holding GmbH (30 percent) and UIAG Automotive Beteiligungs GmbH (100 percent) as well as UIAG Holding GmbH (100 percent) for investment management.

August 28, 2015

RZB Bank Gives No Info on Potential Merger with Unit RBI; H1 Net Profit Down 10 Pct

Raiffeisen Zentralbank (RZB), parent of listed bank RBI, failed to provide information on a potential merger with the unit in the H1 report, saying only that it is focusing on capital structure.

August 28, 2015

Immigon Expects a Profit of more than a Hundred Million this Year

Among others, special income from high-volume bond buyback from August is supposed to make it possible for bad bank Immigon - formed from a part of ÖVAG - to make a profit exceeding a hundred million Euros for this year.

August 28, 2015

C-Quadrat Boosts Profit in H1

The listed investment fund company C-Quadrat recorded substantially higher income and profit in H1 2015. Whereas in Q1 profits increased substantially, in Q2 profits were slightly lower.

August 24, 2015

Austrian Investment Funds Recovered in July

Austria’s investment funds improved their 12-month performance slightly in July. Of 1,559 funds operating for at least one year, some 1,337 posted a positive performance, while 219 performed negatively and three closed flat, the statistics of the Association of Austrian Investment Companies (Vereinigung Österreichischer Investmentgesellschaften (VÖIG)) reports.

August 24, 2015

Meinl Bank vs FMA: Also Auditors had Reservations

The Financial Market Supervisor (FMA) has been investigating the management of Meinl Bank since July 2014, which has resulted in the regulator ordering a dismissal of the management board members. The bank is trying all legal steps to go against the regulator’s edict.

August 21, 2015

Raiffeisen to Sell Polbank Only Without CHF Loans

Raiffeisen Bank International (RBI) faces some delays with regard to its plan of selling off subsidiaries in eastern Europe, though the bank assures it will meet the target and downsize by the end of 2017. One of the obstacles it faces are CHF mortgage loans of Polish arm Polbank (EUR 3.2 billion /USD 3.5 bilion).

August 20, 2015

Austrian Anadi Bank Quadruples H1 Profit to EUR 16.4 Million

Austrian Anadi Bank from Klagenfurt reports posting a profit from ordinary activities of EUR 22.8 million (USD 25.2 million) in H1 2015 (H1 2014: EUR 6.3 million), while the net loss after tax rose four times y/y to EUR 16.4 million.

August 19, 2015

EBRD Buys 25% Stake in Raiffeisen Bank Aval

Raiffeisen Bank International (RBI ) reports that it has entered the final stage of negotiations with EBRD regarding the latter acquiring a stake in Raiffeisen’s Ukrainian subsidiary Bank Aval. The stake will be a substantial minority shareholding, RBI’s management board announced. The closing of the deal is slated for next week.

August 19, 2015