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Banking Industry

Valartis Posted Loss in 2015

Ailing Swiss private banking group Valartis closed in the red again last year: the loss totaled CHF 58.4 million (USD 58.9 million / EUR 52.6 million), which was slightly less than in 2014 (CHF 73.3 million). Operating loss deteriorated. Austrian Wiener Privatbank took over significant business areas of Valartis Bank in Austria as of 1 April 2016.

2 hours ago

Austrian Banks Could Improve Market Trust, Access to German Investors after Heta Deal - Fitch

Austrian banks could regain some of the market trust as a result of the bad bank Heta deal, ratings agency Fitch wrote in a report of the deal signed by Heta and its creditors.

Yesterday

Heta Claim - Commercial Court in Vienna turns to CJEU

The commercial court in Vienna has referred a preliminary question to the Court of Justice of the EU regarding the Heta case. The court has doubts on whether Austria’s bank liquidation and reorganisation law (BaSAG) also covers such bad-bank units as Heta, which do not hold a bank license. The question pertains to the case of RMF Financial Holdings, a Luxembourg company, vs. Heta, as RMF has made claims to the tune of EUR 235,000 against the bad bank. RMF holds secondary Heta debentures worth EUR 16.4 million, maturing in 2017. German law was determined as being applicable, unless they are contrary to Austrian laws. In the case in question Heta objected to payment of interest quoting Austria’s market regulator FMA’s decision of 1 March 2015.

May 19, 2016

Heta Creditors Sign MoU with Austria, Settlement Terms as in Previous Offer of Statement

Austrian Finance Minister Hans Jörg Schelling struck a basic agreement with bad bank Heta creditors on an out-of-court solution to the prolonged dispute over Carinthia region-guaranteed liabilities of the bank, he told a press conference. As proposed by Austria in a previous offer rejected by creditors, senior bond holders will receive 75 percent of their dues and subordinate debt holders 30 percent. The settlement is planned for mid-October.

May 18, 2016

Vienna-Based Sberbank Europe Suffers EUR 218.7 Mln Net Loss in 2015

The Vienna-based unit of Russian banking group, Sberbank Europe, suffered EUR 218.7 million (USD 247.7 million) net loss in 2015, far worse than a EUR 3.4 million net profit a year earlier, as one-offs burdened the bottom line, the company said.

May 17, 2016

RBI Recorded Loss in Q1 2016 Only in Albania

The results for the first quarter of 2016 were almost pushed to the background, as RBI not only announced its results two days ahead of schedule, but also officially announced its plan for merger with Raiffeisen Zentralbank (RZB). RBI shares dropped up to 11 percent during the day.

May 12, 2016

Merger of RZB/RBI: Holding Bank Could Become One with Subsidiary

Raiffeisen Zentralbank (RZB) and its subsidiary, listed bank RBI, of which RZB holds a 60 percent stake, have initiated a merger procedure. The measure is currently being evaluated, a board member of RBI announced during a conference of analysts, adding that the it would likely be a "downstream merger”.

May 11, 2016

RBI Seen Raising Q1 Net Profit 78 Pct Y/Y to EUR 148.9 Mln

Listed bank RBI will likely post EUR 148.9 million (USD 169.7 million) in Q1 2016 net profit, up by a heady 78 percent y/y, predict analysts on average.

May 10, 2016

Split-Off of UniCredit's CEE Unit from Bank Austria is Nearing

The split-off of eastern European bank business from UniCredit subsidiary Bank Austria, and its transition to Milan, is nearing. Bank Austria’s management board already agreed to the step; now an auditor has to evaluate the measure and then the supervisory board is to decide. The plan is to be filed with the court in June.

May 6, 2016

Erste Group Set to Sign Hungarian Deal by Mid-June

Listed bank Erste Group wants to sign the deal on the planned acquisition of a stake in its Hungarian unit by the state of Hungary by June 14, CEO Andreas Treichl told a teleconference on Wednesday as reported by Reuters news agency.

May 4, 2016