The latest news articles on the financial industry from FriedlNews
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Financial Market Watchdog Sees No Evidence of Balance Sheet Fraud in Heta

At the moment we have no indication of balance sheet frauds, FMA head Klaus Kumpfmüller told the press, commenting on the suddenly increased deficit in the balance sheet of Heta, the successor of Hypo Alpe Adria Bank. He does not exclude the possibility of "figure massaging” in past years, but if it occurred then this would cast a doubt on the accountability of financial auditors.

59 minutes ago

Deutsche Wohnen Set to Bid for Conwert Real Estate in Mid-March

German real estate group Deutsche Wohnen, to be owner of Austria's conwert, will likely file the offer "around March 18”, according to sources from bank circles.

1 hour ago

S Immo to Make Public Offer for Participating Certificates of S Immo Invest

The management board and supervisory board of property developer S Immo AG decided that the firm would make a voluntary public offer to the holders of the outstanding 1,130,681 participating certificates of S Immo Invest to acquire those certificates either by exchange for a bond or for cash consideration.

1 hour ago

Warimpex Sells Two Hotels in St. Petersburg for EUR 70 Mln

Vienna- and Warsaw-listed real estate firm and hotel operator Warimpex sold two office buildings to a unit of Russian pension fund Blagosostayanie in St. Petersburg for EUR 70 million (USD 78.5 million), the company said.

1 hour ago

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.


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”.


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.


Erste Group Sold Over EUR 1.1 Billion Non-Performing Loans in 2014

In 2014 Erste Group got rid of major packages of non-performing loans. Over the year the bank sold EUR 1.1 billion (USD 1.25 billion) in non-performing loans (2013: EUR 0.7 billion). In the fourth-quarter alone EUR 575.2 million in non-performing loans were sold. The current volume amounts to EUR 10.9 billion.

February 27, 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