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Austrian Market Headlines and Analysis

Bank Austria Launches Restructuring Program, Eyes Completion by End-2018

Bank Austria, a unit of UniCredit, is "immediately” launching the restructuring program announced in December and wants to complete it by the end of 2018, the bank said.

Yesterday

Banks Revise Growth Forecasts after Brexit Vote, Wifo Stands by Projection

Bank Austria, Erste Group and Raiffeisen are revising their growth forecasts following the Brexit vote and will likely present the updated projections next week.

Yesterday

Christian Kern: Brexit to Affect Europe's Global Position

"Today is no good day for the UK, for Europe, but also not a good day for our country,” Austrian Chancellor Christian Kern said in the opening of the press statement issued Friday morning in a response to the results of the Brexit vote.

Yesterday

Stock Markets Including Vienna Stocks Nosedive on Brexit Vote

The Vienna stocks are plummeting on Friday, in line with historic losses on other European and international markets, after the Brits voted to leave the EU in Thursday's referendum.

Yesterday

Porr - Financing for Major Order in Bratislava Secured

In Bratislava the Austrian construction group Porr will participate in one of the biggest PPP projects in Central Europe. The company received the order for the ring road of the capital of Slovakia a month ago. Now financing for the EUR 1 billion (USD 1.135 billion) project has been secured.

June 23, 2016

Rothensteiner: Raiffeisen Bank Group is Doing Well

The Austrian Raiffeisen bank group (RBG) is doing well, according to the head of RZB, Walter Rothensteiner. Last year with a balance sheet total of EUR 280 billion the group confirmed its top position among Austrian bank groups for the 10th time.

June 23, 2016

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

Kapsch Secures Extension of E-Toll Contract in Czech Republic by up to 3 Yrs

Austrian e-toll company Kapsch TrafficCom will get an extension of the contract for the operation of the Czech etoll system for trucks by 2 to 3 years, the Czech Transport Minister Daniel Tok said in the parliament.

June 23, 2016

Zumtobel has Launched Regional Project Centre in Belgrade

Lamp maker Zumtobel has launched a new regional project centre in Belgrade. Director Milan Lazarevic said that the centre would be in charge of projects in Hungary, the Czech Republic, Slovakia, Croatia, Romania, Bulgaria and Belgium.

June 22, 2016

Kapsch TrafficCom Sees Profit Hike in 2015/16

Listed toll system provider Kapsch TrafficCom raised its net profit to EUR 36 million (USD 40.8 million), from EUR 11 million a year earlier, and revenues by 15 percent y/y to EUR 526 billion in FY 2015/16. EBIT nearly doubled y/y to EUR 62 million, even though the base in 2014/15 was high enough, thanks to one-off effects.

June 22, 2016