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Banking Industry

Former Hypo Österreich Made EUR 6.7 Million Profit in H1

The former Hypo Österreich, now Austrian Anadi Bank, with headquarters in Klagenfurt, published its halfy-early results. According to the company’s report its profit on ordinary activities dropped to EUR 9.3 million from EUR 22.7 million for the same period of last year. After-tax profit for the first six months of the year reached EUR 6.7 million, after EUR 16.4 million (USD 18.5 million) last year.

Yesterday

Moody’s - Situation of Austrian Banks Improves

US rating agency Moody’s has upgraded its outlook for the creditworthiness of Austrian banks in the coming 12 to 18 months for the first time since 2009 from "negative” to "stable”. The reason for this is lower exposure to risky countries of Central and Eastern Europe, as well as stronger-than-expected capital cushion.

August 23, 2016

RBI: Low Interest, Small Loan Volume Weigh Down on Bank Results

CEO of listed Raiffeisen Bank International (RBI), Karl Sevelda, explains in a comment to the figures published last week, that the earnings were affected by continuously low interest rates and a reduction of the loan volume. On the upside though, the retail business performed above expectations and in spite of the weak market.

August 22, 2016

Carinthian Province Government Concludes Agreement with Federal Authorities on Heta

The province government of Carinthia concluded an agreement with federal authorities regarding a loan of EUR 1.2 billion (USD 1.32 billion) related to Heta, the liquidation vehicle for Hypo Alpe Adria bank. The money will be directed to the Carinthian compensation payment fund KAF, which is to buy back Heta bonds from creditors. The opposition parties voted against the agreement.

July 27, 2016

Rothensteiner: RZB Expects Only Moderate Performance in ECB Stress Tests

RZB bank expects to show only moderate performance in this year's ECB stress tests, the results of which should be published on Friday, CEO Walter Rothensteiner said in an interview for the daily Kurier.

July 27, 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

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