The latest financial services industry and company news and analysis from FriedlNews
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Austrian Financial Services Headlines

C-Quadrat Sees Profit, Revenue Cave In

Listed asset manager C-Quadrat saw its earnings shrink in H1 2016. This was due to a loss of commission fees, which were dependent on performance, the company announced. Now, the company will aim to reduce its costs.

August 22, 2016

US Fund Bain Capital Fighting for Former Hypo Leasing Italy

US fund Bain Capital is allegedly behind the takeover of bad bank of the former Hypo Italy subsidiary in Udine. The deal involves the takeover of the staff and an non-performing loan portfolio of EUR 627 million, Milanese newspaper Sole 24 Ore reports.

July 26, 2016

Crowdinvesting on the Rise in Austria

In H1 2016 Austrians invested EUR 13.5 million (USD 14.8 million), i.e. EUR 4.8 million more y/y, via domestic internet platforms than in all of 2015, statistics on crowd investing platforms, provided by the Austrian business chamber Wirtschaftskammer Österreich, indicate.

July 26, 2016

Erste Group Hungary Aims to Become Top Corporate Finance Advisor

The Hungarian arm of Erste Group Bank wants to become one of the top three banks in terms of corporate finance by 2020 in Hungary, it follows from a statement by head of corporate banking of Erste Bank Hungary (EBH), Richard Szabados.

July 25, 2016

Heta Bad Bank Sells Iconic Holiday Inn Sarajevo Hotel

Bad bank Heta sold the Holiday Inn hotel in Sarajevo to tourism group Europe d.d., the company said. The iconic Holiday Inn Sarajevo was home of foreign correspondents during the 1984 Winter Olympics and throughout the siege of Sarajevo during the Bosnian War. The price was not disclosed.

July 20, 2016

Fitch: Lower Bank Tax Could Strengthen Banks' Capital, Improve Competitiveness

The reduction in Austria's bank tax as of 2017, agreed on by the country's ruling coalition last week, could boost Austrian banks' competitiveness versus their European peers and facilitate strengthening capital, ratings agency Fitch said in a report.

July 18, 2016

Meinl Bank Slumps Deep Into the Red in 2015

Last year Meinl Bank dropped deep into the red. The report presented today shows a loss of EUR 9.2 million for 2015. Back in 2014 the bank broke even. Balance sheet loss increased to EUR 33.1 million.

July 18, 2016

Bank Tax: Reduction and One-Off Payment are Positive Signals

Austria's new regulations reducing the bank tax and introducing a one-off payment from banks are "a positive signal,” central bank governor Ewald Nowotny said after the Austrian government reached an agreement on the planned changes.

July 13, 2016

Withdrawal Fees: Finance Ministry Insist on Providing Clear Information

Austria's Finance Ministry would insist on providing clear information about cash withdrawal fees in the form of cash machine signage, the ministry's spokesman said.

July 13, 2016

Innsbruck Borrows EUR 150 Million from EIB

The City of Innsbruck will borrow from the European Investment Bank EUR 150 million (USD 165.8 million) for the expansion of regional railway and tram transport in central areas.

July 13, 2016