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28.11.2008

Bank Austria Draws up Economic Recovery Plan for Austria’s Medium-Sized Businesses

  • 1.5 billion euro in working capital, investment loans and guarantees
  • More advisory services on liquidity management and support measures

Against the backdrop of the international financial crisis and a slow-down in economic growth, Bank Austria is now offering targeted stimulus loans for small- and medium-sized companies. A total of 1.5 billion euros will be made available to these companies which can be utilised in the form of working capital, investment loans or as bank guarantees. "The financial crisis has now hit the real economy. In this difficult environment we want to proactively fulfil our role as a house bank and safeguard the competitiveness of Austrian medium-sized companies with our targeted stimulus loans", said Helmut Bernkopf, Bank Austria’s Management Board Member responsible for corporate banking.

Besides financing, Bank Austria's economic recovery plan also includes an expanded range of free consultancy services. The bank offers companies with an annual turnover in excess of 2 million euros liquidity advice or a financing check. This is all the more important as many entrepreneurs and managers assess the self-financing ability of their company inaccurately. For companies with an annual turnover in excess of 3 million euros, the Bank Austria also has a WorkingCapitalCheck, an innovative service tool for the rapid analysis of the corporate liquidity situation. Other focal points are the optimal use of various forms of loan collateral when setting prices, and individual repayment arrangements. Furthermore, Bank Austria is stepping up its development advisory services: When advising customers the development specialists also take into consideration the support measures recently introduced by various public institutions.

"When many entrepreneurs hear the word ‘liquidity management’ they think first of all about the lines of credit that are available to them. With our FinancingCheck we want to raise awareness of the liquidity potential within a company", said Ralph Müller, Bank Austria’s Management Board Member responsible for private and business banking.

Enquiries: Bank Austria Media Relations Austria
 Tiemon Kiesenhofer, Tel. 05 05 05 Ext. 52819;
 e-mail: tiemon.kiesenhofer@unicreditgroup.at

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