The latest financial services industry and company news and analysis from FriedlNews
Page 1/45

Austrian Financial Services Headlines

Bawag Buys Two Units from Banking Association Volksbanken

Bank Bawag PSK struck a deal to buy construction savings society start:bausparkasse and Immo Bank from the banking association Volksbanken, the companies said without providing the price of the deal.

June 23, 2016

Austrian Banks Earn More Despite Unfavourable Environment

In 2015 Austrian banks reduced their write-downs and made a profit. Annual surplus of 80 members of the bank association amounted to EUR 1.2 billion (USD 1.362 billion). The whole banking sector recorded a EUR 3.7billion profit.

June 23, 2016

Closing of Visa Takeover Brings EUR 97 Million Pre-Tax Profit to RBI

The expected pretax profit from the cash payment of the transaction will be EUR 97 million. It should be booked under net income from financial investments in the second quarter of 2016. Visa Inc. had announced the takeover of Visa Europe Ltd. in November of 2015. The cash payment of this one-off effect will be split between Slovakia, Romania, Czech Republic, Poland, the RBI head office, Croatia, Bulgaria, Hungary and Zuno.

June 21, 2016

Austrian Banks at Rear End in Terms of Efficiency in Europe

Austrian banks progressed very little in terms of efficiency last year. With a cost-income-ratio (CIR) of 71 percent the banking sector in Austria comes in one of the last in a comparison for Europe right before Germany’s lenders, it follows from the Retail Banking Radar report made by consulting firm A.T. Kearney.

June 20, 2016

Bawag Terminates Savings Club Accounts

Bawag P.S.K. is shutting down its savings club business. To that end the bank announced the termination of savings club accounts (1300 in total) as of 30 September. Caterers are not too happy about it, since the savings club have been generating a solid added revenue. Bawag blames the decision on new legal regulations. Meanwhile other banks continue to maintain the savings club.

June 17, 2016

Christine Lagarde Visits Vienna: The Benefits of TTIP

IMF Managing Director Christine Lagarde stressed the significance of support for the EU-US trade agreement TTIP, in a speech held in Vienna, during a conference titled Finance in Dialogue. She noted it was important to show to decision makers that TTIP and similar agreements are beneficial to the majority of the population. In the EU, over 30 million jobs depend on exports, Lagarde pointed out.

June 17, 2016

Gloomy IPO Sentiment on the Vienna Stock Exchange

The sentiment for IPO's on the Vienna Bourse is still gloomy. Since the beginning of the year there hasn't been a single IPO on the Vienna Bourse. At the same time two companies, WP AG and Eco Business-Immobilien AG were delisted. Teak Holz International AG will leave at the end of July. On the third market KTM AG will leave the exchange.

June 16, 2016

VSE and CEESEG: Heimo Scheuch to Serve as New Chairman of the Supervisory Board

Changes in the supervisory board of Wiener Börse AG and CEESEG AG have taken place and a new executive committee was elected. Heimo Scheuch, CEO of Wienerberger AG, will serve as Chairman of the Supervisory Board. Angelika Sommer-Hemetsberger, member of the Management Board of Oesterreichische Kontrollbank AG, was elected Vice-Chairwoman of the Supervisory Board.

June 15, 2016

More Austrians Into Mobile Banking

Austrians are getting more into mobile banking: more and more of them do banking transactions via smartphones. Currently 61 percent of bank customers use mobile banking services. Last year the percentage rate was merely 48 percent, it follows from an online survey conducted by INGDiBa, carried out in 13 European countries.

June 14, 2016

Bank Austria Sees Itself on Track with CEE Assets Spin-Off

Bank Austria, a unit of UniCredit, sees itself on track in the process of spinning off its CEE assets, in contrast to press reports. On Monday, the daily Standard reports on the apparent difficulties with the schedule as far as the transfer of Bank Austria's CEE business to the group headquarters in Milan is concerned.

June 13, 2016