Banking Industry

Cerberus and Bank Austria Held Further Talks Concerning Branch Network

UniCredit, parent of Bank Austria, and Cerberus fund, the US shareholder of BAWAG Bank, reportedly held talks concerning the branch network of Bank Austria, the daily Standard wrote citing BAWAG sources.

February 5, 2016

Bank Austria Supervisory Board Approves Zadrazil as Future CEO

Bank Austria supervisory board approved the appointment of Robert Zadrazil as the bank's new CEO in Friday's sitting. Zadrazil will replace incumbent Willibald Cernko as of March 1 as the head of UniCredit's Austrian unit and take over responsibilities also of retail and corporate banking head Helmut Bernkopf. Bernkopf will step down as a result of an "amicable” settlement with the end of March.

February 5, 2016

Heta Creditors Stick Together

The creditors of Heta, the bad bank left after the winding down of Hypo Alpe Adria bank, who demand the repayment of the full amount they are owed for Heta bonds, stick together, Kurier daily writes. Their agreement on how to proceed has been extended until summer, although initially it was supposed to expire by 6 March.

February 5, 2016

Erste Group Moving to New Headquarters at Vienna Central Station

By March employees of Erste Group will have moved into the new head office of the company in Vienna, as Erste Holding and Erste Bank are relocating from various locations to one Erste Campus near Vienna Main Train Station. Most of the real estates of the bank have been already sold, but the bank keeps its former head quarter at Am Graben and the IT office.

February 5, 2016

RBI: Preliminary 2015 Consolidated Profit of EUR 383 Million

Raiffeisen Bank International AG (RBI) announces a preliminary 2015 consolidated profit of EUR 383 million. This is above the guidance previously given, primarily due to lower than expected net provisioning for impairment losses of EUR 1,266 million, 28 percent below 2014. This development was spread across a number of markets. General administrative expenses were EUR 2,915 million, 4 per cent below the prior year. Transformation program costs in 2015 were approximately EUR 90 million, in line with guidance. FY 2015 guidance had also included goodwill impairment charges and risk costs amounting to EUR 124.1 million, which were reallocated to FY 2014 in the course of a restatement.

February 2, 2016

RBI to Fully Relaunch Business in Iran Over Next Months

Raiffeisenbank International (RBI) wants to fully relaunch operations in Iran over the next months. At the moment business is still on ice. The bank had been doing very good business in the country before sanctions were imposed, it follows from an interview with RBI board member Peter Lennkh featured by daily WirtschaftsBlatt.

February 1, 2016

Investor Ruling: Meinl Bank Assets Pawned at OeNB

The Meinl Bank has not fulfilled a verdict adjudicated against the bank in a case concerning investor claims against former real estate manager Meinl European Land (MEL). As a result the assets of the bank deposited with other banks have been pawned. A sum of EUR 3 million (USD 3.27 million) which Meinl Bank had deposited with the central bank (OeNB) (and exceeding the minimum reserve exempt from pawning) has been seized, Standard daily reports.

February 1, 2016

Austria’s Complaint Against Hypo Credit Guarantee Dismissed

The Court of Justice of the EU has dismissed the declaration of nullity for a EUR 2.638 billion (USD 2.9 billion) credit repayment guarantee of the Republic of Austria issued to BayernLB bank. The EU judges adjudicated that the guarantee provided by Austria to the Bavarian bank on account of the emergency nationalisation of the former Hypo Alpe Adria bank (now Heta) in 2009, was state aid which was consistent with EU laws.

January 28, 2016

Hypo Investigation Committee Hearings - Latest Update

The Hypo investigation committee continued hearings on Wednesday. In the morning the committee interrogated Financial proxy Wolfgang Peschorn, who is considered the legal mastermind behind the emergency nationalisation of ailing bank Hypo Alpe Adria. The interrogation of Wilhelm Miklas, General Secretary of the Landes Hypothekenbanken bank association is scheduled for Thursday afternoon, and Frans Pinkl, shortterm bank head before the nationalisation, has been called in for interrogation for Friday.

January 28, 2016

Bank Austria Seeks Buyer for Uno Shopping Mall

Bank Austria, a unit of UniCredit, wants to sell the Uno Shopping mall in Leonding and has issued an appropriate commission to EHL Immobilien broker, a spokesman of the board Peter Czapek said.

January 27, 2016