Financial Services

The latest financial services industry and company news and analysis from FriedlNews
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Stock Exchange Index ATX five: Immofinanz Replaces RBI, Composition Unchanged

At a decision making index committee meeting the Vienna Stock Exchange reached a decision on changes to the leading Austrian index, ATX, as well as on further Austrian indices. In the ATX five Raiffeisen Bank International AG will be replaced by Immofinanz AG due to its higher market capitalization.

11 hours ago

Moody’s Cuts Rating for Heta Liabilities by Several Levels

The lack of payment for due liabilities of Heta, the successor bank of Carinthian ailing bank Hypo Alpe Adria, has induced rating agency Moody’s to lower the rating for Heta’s liabilities.

12 hours ago

Fitch Confirms Rating for Billion-Euro-Bond

Rating agency Fitch issued a statement concerning the debt repayment stop for state-owned Hypo Alpe Adria bank successor Heta, after Standard & Poor’s did so on Tuesday saying that a discussion concerning the potential haircut for Heta bonds would not affect the rating of Austria directly. Fitch confirmed on Wednesday its rating for Heta bonds with a state guarantee.


Heta Could Spell Trouble for Austria's Fiscal Targets

Austria's deficit may widen due to the additional impairments required in the case of nationalized bank Hypo's bad bank Heta, Fiscal Council head Bernhard Felderer expects.

March 2, 2015

Heta Stops Payments: FinMin Stresses Heta is Not Insolvent

All audits and reports indicate that the bank is already overindebted, but, as the Finance Ministry stressed in a statement issued on Sunday evening, "Heta is not insolvent”.

March 2, 2015

Austrian Financial Market Watchdog Orders Heta to Stop Payment of Debts

Heta, the bad bank created from Hypo Alpe Adria, has suspended debt payments for one year, on order of the financial market watchdog FMA. Even though the watchdog itself confirms a debt overload and the threat of insolvency for Heta, this does not mean the bank is bankrupt.

March 2, 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

EIB Granted Loans Worth EUR 1.5 Billion in Austria in 2014

In 2014 European Investment Bank (EIB) granted a total of EUR 1.5 billion in loans for projects in Austria. In 2013 the volume of granted loans reached EUR 2.4 billion (USD 2.73 billion).

February 26, 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