News Austria Banks: Austrian banks fueled EWO’s gains; margin pressure now threatens the income
Quick ReadEWO has surged 55% in one year and yields roughly 4%, but two consecutive distribution cycles have already been cut double digits year-over-year.Erste Group and Raiffeisen drive EWO's income, and ECB rate cuts in a slowing euro area threaten to compress Austrian bank margins further.Are you ahead, or behind on retirement? SmartAsset's fre...
News Austria Banks: A decade on from disaster, Austrian bank BAWAG plans IPO
Austria's former trade union bank BAWAG is planning a stock market debut later this year to set the seal on a decade-long recovery from its near collapse in a fraud scandal. The initial public offering (IPO) looks set to be the country's largest for at least 10 years, and would provide an opportunity for its majority owner, U.S. private equity firm Cerberus Capital Management, to cash in on its investment. Sources close to the matter told Reuters in June the listing of a 20-30 percent stake could value Austria's fourth-biggest lender at up to 5 billion euros ($5.9 billion).
News Austria Banks: UPDATE 1-Regulator probes money laundering controls at Austria's Raiffeisen
Austria's financial regulator FMA has been investigating Raiffeisen Bank International over anti-money-laundering failures, the Austrian bank said on Thursday in its annual report. The investigation is focused on the so-called know-your-customer rules, the bank said, referring to a key safety guard to prevent money laundering. It comes as the group, the largest Western bank in Russia, is also under investigation by the United States' sanctions authority - the Treasury Department's Office of Foreign Assets Control.
News Austria Banks: Austrian banks unaffected by banking turmoil - finance minister tells NZZ
Austria's government is monitoring the global banking turmoil although there are so far no signs of it spreading to the country's financial sector, Finance Minister Magnus Brunner said in an interview published on Saturday. He also defended Raiffeisen Bank International (RBI) which has come under fire for continuing to operate in Russia despite the war in Ukraine. The Austrian lender is now the most important Western bank in Russia, offering a lifeline to people and businesses there seeking to make international payments, but it is under growing pressure from Western officials and investors to quit.
News Austria Banks: Watch CNBC's full interview with Austrian Central Bank Governor Robert Holzmann
Robert Holzmann joins CNBC exclusively for a discussion on the European and global economic outlook following rising inflation and planned rate hikes.
News Austria Banks: People Trapped and Missing as Damaging Floodwater Rages Through Austrian Town
Two rivers in Austria’s southern state of Carinthia burst their banks overnight into Wednesday, June 29, causing flooding and landslides which left at least two people missing and thousands without electricity, local media reported.Footage recorded by @emmaisnotmyname shows floodwater rushing down a street in Treffen am Ossiacher See in the early hours of Wednesday. Daylight photographs showed extensive damage to buildings there.Local media reported that the area around Lake Ossiach had been hit by heavy storms overnight into Wednesday. The Pollauer and Treffner rivers had burst their banks, causing landslides.Two people were reported missing from Treffen and nine were airlifted. Local media said that people in nearby Arriach were trapped in their houses as roads leading to the village were washed out.According to local media, more than 7,000 people were without electricity on Wednesday morning Credit: @emmaisnotmyname via Storyful
News Austria Banks: Austria hit by flood ‘catastrophe’ - state premier
STORY: The floods killed one person, an 82-year-old pensioner a day earlier as several villages in the mountainous region near the borders with Italy and Slovenia are still cut off from the outside world.Heike Baumhaker filmed her devastated property after the nearby river left its banks and flooded her garden and surrounding roads and fields:“We were hit last night by the floods and all we could hear was a roaring sound, the electricity was gone and we obviously feared what would come next. This morning we saw the extend of the damage. Our property was submerged in water, still no electricity and waves as far as the eye reaches.”Local officials said authorities were attempting to restore power as quickly as possible.Carintha State Premier Peter Kaiser spoke to reporters:“It is one of the worst catastrophes we have ever seen in our state. It shows the force of nature in a unique way. As terrible as it is, the loss of one life – and I am deeply sorry about that – is almost a miracle, that few people were hurt.”Local Fire Department Commander Libert Pekoll said help is on it's way:“We have reached all the farms cut off by the outside world by helicopter and we were able to take up contact with the people there. Everybody is doing well. In the area of Treffen and surroundings which I’m responsible for there is a large number of forces deployed, 300 yesterday and 200 today.”More severe weather is expected for later on Thursday, according to the weather forecast.
News Austria Banks: At Least 1 Dead After Heavy Rain in Austria
About 5.5 inches of rain fell over seven hours, a meteorologist said, swamping villages in the southern part of the country.
News Austria Banks: Austria Announces Lifting Of All COVID-19 Restrictions For Travellers From May 16 Onwards
The Austrian authorities have lifted all restrictions for travellers from May 16. People no longer need to show proof of vaccination or a negative COVID report.
News Austria Banks: LLB Österreich: First woman to chair a private bank
Natalie Flatz has been appointed Chair of the Board of Directors of LLB (Österreich) AG. This is the first time this top position in a private bank in Austria has been held by a woman. Natalie Flatz ...
News Austria Banks: Cineteve Banks International Sales on Michael Haneke, Modern History, Global Forests Docs (EXCLUSIVE)
Cinétévé could bank on an even greater degree of investment in its title “History Uncovered.” As season three finishes production, the prior season – which covered such topics as ...
News Austria Banks: Austrian Central Bank Raises 2022 Inflation Forecast
Austria's central bank (OeNB) said on Wednesday it expects inflation in the country to rise in 2022 thanks to high energy prices and supply bottlenecks and only start dropping in 2023-2024. Consumer ...
