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Austrian Financial Services Headlines

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.


OeNB Doubles Profit Thanks to Münze Österreich

The Austrian National Bank (OeNB) more than doubled its profit from EUR 341 million to EUR 753 million in 2015 thanks to income from stake in Münze Österreich. The federal government will take EUR 508 million from the profit.

April 29, 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

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

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

DenizBank Vienna Raised Profit in 2015 by 25 Percent

Vienna-based DenizBank, owned by Sberbank group via Turkish DenizBank A.S., saw a massive profit increase y/y in 2015. The bank netted EUR 177.8 million (USD 202 million), up 25 percent y/y, whereas the balance sheet sum firmed from EUR 8.9 million to EUR 10.05 billion, the balance published in Official Gazette of Wiener Zeitung daily indicates.

April 22, 2016

Austria Among Top 10 Countries with Biggest Payment Bottlenecks

Austria and its main trading partner Germany ranked among the top 10 countries with the biggest payment bottlenecks, credit insurer OeKB said in the quarterly report.

April 20, 2016

Carinthia Region's 'Future Fund' Volume Up, but Income Slows Down

The socalled 'future fund' of Carinthia region, which manages the remaining receipts from the sale of ex-bad bank Hypo Alpe Adria, is posting lower income than in the preceding years, the region's governor Peter Kaiser told journalists.

April 19, 2016

Investment Funds Looking at Good Year - Assoc VOIG

Investments funds should enjoy a good year, despite a poor start into 2016, Austrian investment firms association VOIG head Heinz Bednar said at a joint press conference with foreign investment funds association VAIO.

April 19, 2016