Bank Austria Purchasing Managers’ Index for December:
Reason to celebrate for Austrian industry as New Year’s approaches
Austrian manufacturing is ending 2010 on a very strong note.
Real Invest Austria1 acquires three properties totalling EUR 90 million
Real Invest Austria, market leader among open-end real estate investment funds in Austria, has added three properties worth about EUR 90 million to its portfolio.
Real Invest Europe1 opens as from 21 December 2010
The suspension of the redemption and issue of Real Invest Europe fund units was lifted on 21 December 2010. Fund units can be purchased and sold from that date.
Bank Austria Business Indicator:
Economy moves smoothly into the New Year
It is over three years since Austria’s economic players have assessed the situation as positively as they have today.
Gianni Franco Papa designated to head Bank Austria’s CEE operations
Today UniCredit’s Board of Directors in Milan has appointed Gianni Franco Papa, 54, as new Head of CEE Division of UniCredit.
Attractive “KapitalSparbuch” savings accounts offered by Bank Austria around the turn of the year
Bank Austria selectively increases interest rates on savings deposits.
UniCredit Private Banking Asset Allocation and outlook for Q1 2011: slightly more risk in the portfolio is possible
The crisis year 2008 was followed by a strong recovery in equity markets in 2009. An assessment of 2010 presents a differentiated picture.
New stepped-coupon mortgage bond of Bank Austria: annually rising interest rates guaranteed
Bank Austria is offering security-conscious investors a new six-year mortgage bond for private investors as from 9 December 2010.
Bank Austria Job notification:
Friederike Kotz new head of CEE Risk Control
Friederike Kotz, 48, was appointed new head of Bank Austria’s CEE Risk Control Department as of the beginning of September.
Bank Austria Private Banking presents:
A credit card for clients who expect only the best: Visa Infinite
The premium credit card market in Austria now has one more significant player: Visa Infinite.
New ErfolgsAnleihe bond with initial interest rate of 2.875 per cent and security for capital
Bank Austria is now offering Fix-Floater-Anleihe 2010-2014/6, a new ErfolgsAnleihe bond for investors who want to invest their money for a reasonable term without having to worry.
Bank Austria Purchasing Managers’ Index for November:
Industry remains on growth course
The favourable trend in industrial activity continues. "Although the Bank Austria Purchasing Managers’ Index fell slightly in November from 56 points in the previous month to 55.2 points, Austrian industry continues to grow at an above-average pace," said Stefan Bruckbauer, chief economist at Bank Austria.
Bank Austria submits voluntary offer for CA Immo shares
Today the Supervisory Board of Bank Austria has passed a resolution to increase Bank Austria’s shareholding in CA Immobilien Anlagen AG ("CA Immo") by making a voluntary offer pursuant to Section 4 and subsequent sections of the Austrian Takeover Act (Übernahmegesetz).
Bank Austria Job News:
Giuseppe Aquaro appointed as the new head of Internal Audit
Aquaro’s predecessor and long-standing chairperson of the Central Works Council, Hedwig Fuhrmann, will enter retirement
As of today, Giuseppe Aquaro, 48, will take over as the head of the Internal Audit department at Bank Austria. He will succeed Hedwig Fuhrmann, who will go into retirement.
Bank Austria Real Invest brings new freehold apartment project onto market at Huglgasse 26
The demand for freehold apartments currently exceeds supply on the Vienna market. After all, real estate is and will remain a trusted investment in material assets, and therefore it is best suited as a way to prepare for retirement or to protect against inflation.
Bosnian Azra Nuhefendic wins "Writing for CEE 2010"
Bosnian author Azra Nuhefendic is the winner of the European journalism prize "Writing for CEE 2010".
New 2.65 % Fixzins-Obligation 2010-2015/5 bond of Bank Austria offers SMEs an attractive fixed interest rate with security for capital
This bank bond with a 4.5-year term offers an attractive fixed interest rate for the period from 19 November 2010 to 18 May 2015.
New Bank Austria "Fonds GarantieAnleihe" bond with 100 percent
capital repayment1) at end of term
The new "Fonds GarantieAnleihe 2010-2017 Series 12" bond of Bank Austria is based on two renowned Austrian funds of Pioneer Investments Austria, which are pooled in a fund basket.
Equity Research Austria Outlook for 2011:
Vienna Stock Exchange to continue trending sideward next year
Although the ATX has put in a positive performance in the past 11 months, outperforming many international indices such as the Eurostoxx 50 or the Nikkei, it still has a long way to go until it returns to its pre-crisis level.
Bank Austria Business Indicator:
Economic growth in 2011 expected to be slightly above 2010 at two per cent
"The Bank Austria Business Indicator increased to 4.2 points in November, the highest for over three years", said Stefan Bruckbauer, chief economist at Bank Austria.
Sector Report by Bank Austria Volkswirtschaft:
Mechanical engineering returns to high of growth
The Austrian mechanical engineering sector had to face huge losses in the year of recession in 2009. Output capacity declined by 22 per cent, revenue dropped by 24 per cent to EUR14.7bn.
Results for the first nine months of 2010:
Bank Austria: net consolidated profit of EUR 761 million for the first nine months
Profit before tax of EUR 450 million in Q3 2010 was the best quarterly performance since the beginning of 2009; Net fees and commissions for the first nine months significantly higher than in the previous year; net interest income lower than the exceptionally high figure in the previous year, reflecting low level of interest rates, but with a steadily increasing quarterly trend.
Thomas Hetz strengthens management team at Bank Austria Real Invest
Thomas Hetz joined the management team at Bank Austria Real Invest on 1 October. Hetz (50) has held various management and leadership positions at Immofinanz Group over the past seven years.
Bank Austria Purchasing Managers' Index for October:
Austrian industry on its way towards a strong winter
"Following the positive developments in order intake in the previous months, Austrian industry saw strong increases in staff levels and production in October. Although the number of new orders continues to rise, its growth has slowed somewhat. The same is true of orders on hand, and the significant rises in input costs continue to hamper domestic companies," said Stefan Bruckbauer, the chief economist at Bank Austria, outlining the current trends in Austria's processing industry.
Bank Austria Student Initiative:
Opportunity to win EUR 500 at a midnight date with Austrofred
Students can win a "Midnight Date with Austrofred" and up to EUR 500. Everyone who registers for participation by 26 November on the website studenten.bankaustria.at has the possibility of a date which is remunerative but costs nothing.
Huge success for UEFA Champions League Trophy Tour 2010 – the most desired trophy of club football live in five countries
The UEFA Champions League Trophy Tour has reached its final stop today – Vienna. Until Sunday everything will be about football on the Town Hall Square. Fans will not only be able to marvel at the Original Trophy of the competition, the world’s hardest to win. They will moreover have the unique opportunity each day to have a photo taken with the UEFA Champions League Trophy.
The most innovative financial service 2010: the Bank Austria "AufschwungKredit" loan
Participants at the Alpbach Financial Symposium 2010 nominated Bank Austria’s “AufschwungKredit” loan as the most innovative financial service 2010.
UEFA Champions League Trophy comes to Vienna – Town Hall Square becomes football arena
Within the framework of the UEFA Champions League Trophy Tour presented by UniCredit, Bank Austria makes it possible: The precious UEFA Champions League Trophy will come to the Town Hall Square in Vienna from Thursday, 14th October, to Sunday, 17th October 2010, as final stop of the Trophy Tour. Football fans in Vienna will thus have the unique opportunity to get a first-hand experience of the exciting atmosphere of the UEFA Champions League and the cup of the world’s most prestigious club competition.
Literaris 2010 Goes to Renata Šerelytė and Àkos Fodor
On Thursday, October 7, 2010, a joint press conference was held at the Frankfurt Book Fair to announce the winners of the Bank Austria Literaris 2010 award and present the (bilingual) books they published in Wieser Verlag's EditionZwei series.
UEFA Champions League Trophy in Austria – World player Luís Figo in Vienna
In the course of the UEFA Champions League Trophy Tour presented by UniCredit, Bank Austria makes it possible: From October 11 to 17, the desired UEFA Champions League Trophy travels through Austria. Thereby, all football fans have the unique opportunity of diving into the exciting atmosphere of the UEFA Champions League and seeing the Trophy of the most prestigious club league of the world close up.
Particularly valuable: The Bank Austria "KünstlerSparbuch" passbook
With the "KünstlerSparbuch 2010" passbook, savers can obtain a good return on their savings, enjoy art and culture, and at the same time help others. The attractive fixed interest rate of this year's "KünstlerSparbuch” passbook, at 2.00 % p.a. for a term of 24 months, is impressive.
Real Invest Austria1 looks back on another successful financial year, thereby continuing its successful performance
Real Invest Austria, Austria's number one in open real estate funds, successfully ended the 2009/2010 financial year as of 30 September 2010. In the past 12 months, the fund flagship of Bank Austria Real Invest generated about EUR 363 million in new customer inflows. Fund volume currently amounts to EUR 1.43 billion.
Bank Austria Purchasing Managers' index in September:
Austria's industry still full of energy
The Austrian industry is starting autumn which much force.
UniCredit Bank Austria AG successfully placed € 500 mn 1.875 % Öffentlicher Pfandbrief 2010–2015
UniCredit Bank Austria AG issued on 16 September a 3-year Öffentlicher Pfandbrief (public sector pfandbrief) with a coupon of 1.875 % and an issue size of € 500 m.
Bank Austria Business Indicator:
Recovery to remain strong until the end of 2010, but momentum is slowing
The strong recovery of the Austrian economy is continuing. "The Bank Austria Business Indicator increased once again in August, hitting a value of 3.3, the highest level seen in two and half years," said Stefan Bruckbauer, chief economist at Bank Austria. "The rebound of the global economy has reached Austria. In addition, it appears that we can still look forward to several more strong months following the particularly upbeat second quarter of 2010."
New Bank Austria "ErfolgsAnleihe" bonds with attractive initial interest rates and security for capital
Two new "ErfolgsAnleihe" bonds with terms of six years and four years, respectively, offer high initial interest rates and security for capital. For investors looking for investments with a reasonable term and attractive interest rates, Bank Austria has launched two new bonds offering security for capital at maturity.
Win UEFA Champions League tickets
The sound of the vuvuzelas of the Football World Championship has just faded away and the next highlight is already coming up: the UEFA Champions League season 2010-2011.
Bank Austria Job News:
Michael Czanek new head of Retail Risk
Michael Czanek, 39, will take over as the head of the Retail Risk department on 1 September. He is replacing Wolfgang Schilk, who will assume new tasks within UniCredit Group. Mr. Czanek will be responsible for the operational and strategic management of credit risk in the Retail Customers, Small & Medium-sized Enterprises and Private Banking divisions.
Bank Austria StudentenKonto current account: Attractive welcome presents for university starters
Students who open a StudentenKonto current account at Bank Austria before 27 November 2010 receive a Coffee To Go tumbler and McCafé vouchers as a welcome present. In addition, they can choose between a voucher for a 3D film or a ticket for a cinema performance with popcorn and a soft drink.
Bank Austria Purchasing Managers' Index for August:
Austrian industry loses momentum, but growth remains robust
In a turnaround from last year's economic crisis, Austrian industry has posted unusually strong growth over the past six months. However, the support coming from increased global demand as a result of the inventory cycle is now starting to weaken and is hampering the expansion trend.
Bank Austria Business Indicator:
Stronger growth for Austria's economy in 2010, less momentum in 2011
The Austrian economy is in considerably better shape at the midway point of 2010. "After the strong economic data for the second quarter of 2010 allowed us to all but forget about the symptoms of the economic crisis, the current Bank Austria Business Indicator promises a continuation of the healing process in Austria.
Sector Report from Bank Austria Economics:Chemicals industry regains stability following crisis year
Without a doubt, 2009 was one of the worst financial years in the history of the Austrian chemicals industry. Production decreased by 11 per cent and sales declined by 17 per cent to EUR 6.4 billion. However, these figures show that, in comparison to other export-intensive sectors, the chemicals industry actually got off lightly.
New ErfolgsAnleihe with a 2.5 per cent introductory interest rate and capital security
Bank Austria is now offering the Fix-Floater-Anleihe 2010–2016 Serie 8, a new ErfolgsAnleihe for investors who want to invest their money for a manageable term without having to worry.
Results of Bank Austria for the first six months of 2010:
Upward trend in operating performance continues in the second quarter
Increase in revenues and operating profit in Austria and CEE in Q2 2010, profit before tax for Q2 2010 reached EUR 354 million, the highest level seen in the past five quarters and up by 22 per cent on the preceding quarter
Bank Austria Purchasing Managers' Index in July:
Austria's industrial production lagging behind demand
Austria's industry is maintaining the momentum it gained in April through the summer. Austria's industry has been enjoying an upswing for nearly a year now. This spring brought a new jump in growth, and the summer a new record high.
Bank Austria Job News:
Michael Kaltenbeck appointed as new CEO of FactorBank
Michael Kaltenbeck, 41, was appointed as the new CEO of FactorBank as of 1 July. In this position, he will mainly be responsible for sales and distribution, IT and accounts receivable management. Michael Hanzlik will remain the second managing board member, and will continue to be in charge of risk management at FactorBank.
Submissions for "Writing for CEE" possible until the end of July
Journalists from all over Europe are invited to submit their work for the prestigious “Writing for CEE” journalism prize by 31 July 2010.
Bank Austria economic indicator:
Following good growth over the summer, there are signs of a slowdown, although a "double-dip" recession is not expected
The Austrian economy continues on its bumpy path out of the economic crisis. Following a slight fall in the previous month, the Bank Austria economic indicator, which has risen once again, demonstrates the volatility of the economic climate with the achievement of a value of 2.3 in June.
Real Invest Austria1 continues its investment programme
Real Invest Austria, the flagship of Bank Austria Real Invest and Austria’s number one open real estate fund, is continuing its investment programme. In recent weeks, a package of four properties worth roughly EUR 106 million was added to the fund assets.
Strong demand for Bank Austria’s subsidised SME loans in the first half of 2010
The lending initiative launched by Bank Austria for small and medium-sized businesses met with strong demand from SMEs in the first half of 2010. The number of loan applications doubled compared with the first half of 2009.
New Bank Austria ErfolgsAnleihe bond with initial interest rate of 2 per cent p.a. and security for capital
The new six-year ErfolgsAnleihe bond offers a high initial interest rate and safety of the invested capital.
Bank Austria "Best Start 2010" Sponsorship Award: Outstanding social project to be selected through Internet voting
The Bank Austria "Best Start 2010" Sponsorship Award is awarded to a project of social benefit which focuses on the welfare of children and young people, or integration and migration.
Bank Austria Purchasing Managers' Index in June:
Austrian industry starts the summer with strong growth
After falling slightly in May, the Bank Austria Purchasing Managers' Index has returned to 59.0 in June. After April 2010 this is the second-highest level in the more than ten years since the Purchase Managers' Index was first launched. Stefan Bruckbauer, Chief Economist of Bank Austria, summarises the current situation in Austrian manufacturing: "Austrian industry will start the summer with the same high momentum which it began pursuing in April."
UniCredit Group's CEE Analysis:
CEE growth with a two speed recovery
The countries in Central and Eastern Europe (CEE) have weathered the financial crisis quite well to date, proving that the widespread concerns and scepticism prevailing a year ago were exaggerated. The recovery is underway, and the economists of UniCredit have increased their 2010 GDP growth forecast for the region from 2.8 % to 3.1 %.
Purchasing power of the euro in various holiday destinations for Austrians in summer 2010:
Value of the "Holiday€uro" particularly low in summer 2010
"This year the purchasing power of the euro is particularly low for Austrians spending their summer holidays outside Austria," says Stefan Bruckbauer, Chief Economist of Bank Austria, commenting on recent calculations of what the euro is worth in popular holiday destinations. The euro has depreciated against almost all other currencies and prices have risen more strongly in many regions. The average value of the euro in countries where Austrians like to go for their summer holidays is 3 per cent below the summer 2009 level.
Cornerstone laid for Austria's tallest building — DC Tower 1
The laying of the cornerstone of what will be Austria's tallest building, the 220-metre DC Tower 1, was celebrated at noon today. Mayor Michael Häupl, Bank Austria CEO Willibald Cernko, architect Dominique Perrault, his excellency Philippe Carré, ambassador of France, district chairman Norbert Scheed, and the CEO of WED AG, Thomas Jakoubek, were all on hand to mark this important occasion.
Bank Austria Business Indicator:
Peak of recovery speed is over
In spite of the weak GDP figures in the first quarter with a slight decline of 0.1 per cent as compared to the previous quarter, the Austrian economy is largely still experiencing a stable recovery trend.
UniCredit Bank Austria AG successfully placed
€ 750 mn 2.375 % Öffentlicher Pfandbrief 2010–2015
Yesterday UniCredit Bank Austria AG issued a 5-year Öffentlicher Pfandbrief (public sector pfandbrief) with a coupon of 2.375 % and an issue size of € 750 m. The bond was priced with a re-offer price of 99.419 %, corresponding to a re-offer spread of 45 basis points over mid-swaps.
Massimiliano Fossati to become new Chief Risk Officer at Bank Austria
Massimiliano Fossati was appointed as new member of the Management Board of Bank Austria with responsibility for the risk management (Chief Risk Officer; CRO) by the Supervisory Board of UniCredit Bank Austria AG as of 8 June 2010 upon a proposal made by Willibald Cernko, Bank Austria's CEO. As the bank's new CRO, he will be responsible for the management of credit, market and operational risk.
UniCredit Private Banking Asset Allocation June 2010:
This May was anything but a walk in the park for the world's stock markets. From the debt crisis in Europe to the oil leak in the Gulf of Mexico and 6 May's mysterious "flash crash" on the New York Stock Exchange that caused the most severe price losses in 20 years, the list of problems plaguing the market is long indeed. The US exchanges in particular suffered marked losses over the month, and the Dow Jones saw its weakest May since 1940.
UniCredit Bank AG issues guarantee bond DAXglobal® Alternative Energy Index GarantAnleihe 2010–2016
The UniCredit Bank AG guarantee bond DAXglobal® Alternative Energy Index GarantAnleihe 2010–2016 is an offer to customers looking to profit from growth opportunities among globally active alternative and renewable energy companies – with 100 % capital protection at maturity.
Sale of CAIB AG to HypoVereinsbank completed
The sale of CAIB AG by UniCredit Bank Austria AG to HypoVereinsbank (UniCredit Bank AG) already communicated in February 2010 has been completed as of today after all regulatory approvals were obtained.
Bank Austria Purchasing Managers' Index in May:
Austria's industry still feels strong upturn
Austria's industry is expanding again. "The favourable development of incoming orders supports the ongoing production expansion by industrial enterprises. The strong rise in input cost is a burden but an increase in jobs and inventories indicate an increase in confidence in the sustainability of recovery", Bank Austria chief economist Stefan Bruckbauer describes the current situation in Austria's manufacturing industry.
Bank Austria Management Board Member Helmut Bernkopf Attends 60th Austrian Conference of Cities:
High demand for the relatively new "One Billion for Communities" initiative
Bank Austria's "One Billion for Communities" has enjoyed a very high level of demand. As a result, Austria's leading financial institution has provided around 100 loans with a volume of roughly EUR 200 million to Austrian municipalities in recent months.
2009 Horst Knapp Prize goes to Luise Ungerboeck and Franz Schellhorn
Two of the most distinguished daily newspaper journalists in Austria, Luise Ungerboeck and Franz Schellhorn, were conferred with the Horst Knapp Prize for their journalistic achievements over the past year at an awards ceremony yesterday evening.
Bank Austria ErfolgsAnleihe with capital security and starting with 2 per cent interest
The new ErfolgsAnleihe with a term of five years starts with a high interest and offers capital security. For investors intending to invest their money without nervousness and for a reasonable term, Bank Austria offers an obligation with capital security at maturity as from now:
Bank Austria Job News:
Harald Vertneg new head of Accounting, Tax & Participations
Harald Vertneg (50) will be taking over as the director of the Accounting, Tax & Participations department at Bank Austria on 1 June of this year. He is replacing Peter Hofbauer, who will begin his new assignment as CFO of the German UniCredit subsidiary HypoVereinsbank on the same date.
First winner in the Madrid Final already set: UniCredit
This year's match in the UEFA Champions League Final, this Saturday in the Spanish capital, comes as a stroke of luck for UniCredit Group. Both finalists – FC Bayern München and FC Internazionale Milan – come from countries that are core domestic markets for the European group, with Germany being the second largest market behind Italy.
Referring to false statements recently published by the media:
Clarifying statement on the subject of income tax and group taxation
In view of the persistently rumoured false claim that the bank is not paying any tax in Austria on the net profit of EUR 1.1bn in 2009 due to the offsetting of foreign losses under the domestic group taxation regime, Bank Austria would like to emphasise the following clarification:
New initiatives strengthen the social profile of Bank Austria
In 2010, Bank Austria awards the "Best Start 2010" Sponsorship Award for a social project for the first time. With this initiative, Bank Austria intends to make an additional social contribution and, at the same time, support charitable initiatives, organisations, associations and other bodies in their effort to further social causes. The award will be given for projects focusing on children and adolescents or integration and migration.
Interest and Currency Outlook for Q2 2010:
Euro turbulence delays key rate hikes by ECB
According to UniCredit Group's current estimates, the massive turbulence surrounding the euro will have no direct negative effects on the economic recovery. Instead, the upward revisions in the various growth forecasts should continue, although economic growth will vary considerably from region to region.
Best Employer Award 2010 of the Multiple Sclerosis Society of Vienna awarded to Bank Austria
After the nominations had been submitted for 2010, the nominations of two large companies were found to be equal and worth of awarding following a thorough review. Therefore, the Best Employer Award 2010 of the Multiple Sclerosis Society of Vienna, sponsored by the company Biogen Idec, is awarded to two companies: Bank Austria and the Vienna Airport.
Sectoral Report of Bank Austria Economics Department:
Plastics processing slow to pick up pace in 2010
The processing of plastics in Austria was hit hard by the recession year of 2009. Production plummeted by 10 percent and sector sales revenue plunged by 12.6 percent to EUR 5.5 billion.
Bank Austria Business Indicator:
Significant growth spurt on the cards in Q2
In April the Bank Austria Business Indicator rose strongly from 1.0 in the previous month to 2.2. This is its highest reading for two years.
UniCredit Group´s CEE Analysis: CEE banking – the way out of the crisis
In the aftermath of the global crisis the economic environment in Central and Eastern Europe (CEE) is now slowly showing signs of recovery. However the growth outlook varies significantly, with some countries recovering faster and some others being more vulnerable to the ongoing market turbulences, but all clearly remaining below their long term potential.
Results for the first three months of 2010:
Bank Austria posts net consolidated profit of EUR 242 million in Q1
Bank Austria's CEO Willibald Cernko: "We again achieved a sound performance in an environment which has remained challenging. The downward trend seen in the second half of 2009, in particular, was stopped and results for the first quarter of 2010 significantly exceeded those for the two preceding quarters.
Bank Austria appeals against court decision in Switzerland
As previously communicated, UniCredit Bank Austria AG ("Bank Austria") is an intervening party supporting AKB Privatbank Zürich AG (formerly Bank Austria [Schweiz] AG and a former banking subsidiary of Bank Austria), the defendant in a lawsuit relating to alleged claims of the Bundesanstalt für vereinigungsbedingte Sonderaufgaben (BvS), the legal successor of Treuhandanstalt Berlin, the German public body for reunification of the German Länder.
Bank Austria Private Portfolio PREMIUM:
Structured asset advice made to measure
From today, Bank Austria is offering its private banking clients an innovative asset advice model in the shape of the Private Portfolio PREMIUM. Here, clients investing EUR 50,000 or more can match their investment strategy to their personal investment goals.
Journalism prize "Writing for CEE" announced for 2010
For the seventh time, Bank Austria, member of UniCredit Group, in cooperation with the APA - Austrian Press Agency announces the renowned journalism prize "Writing for CEE". The award, which is endowed with 5,000 euro, is intended to promote journalistic debate on questions regarding Europe and European integration.
Bank Austria Purchasing Managers' Index in April:
Austrian industry exits the crisis at full speed
Austria's domestic industry is now fully caught up in the global recovery. "The record growth in incoming orders is significantly bolstering the order books, with the result that production output is expanding rapidly. New jobs are being created in Austrian industry once again for the first time since the start of the crisis.
Get a part of the UEFA Champions League Final
The countdown to the UEFA Champions League Final 2010 has started. While FC Bayern and FC Internazionale are getting ready to compete for the Trophy in Madrid on May 22nd, football fans across Europe can experience more than their usual anticipation of watching the big showdown.
New credit initiative from Bank Austria:
AufschwungKredit to help medium-sized and large enterprises stay the course
The global financial crisis and the sharp decline in economic activity it triggered have resulted in massive declines in ratings of otherwise sound companies. Sometimes this can cast doubt on the chances of winning new, lucrative contracts since it seems impossible to pre-finance such client orders, additional staff or the necessary investments.
Bank Austria analysis:
Greece only part of the imbalance in the euro zone
A current Bank Austria analysis shows that the problem associated with Greece is just a peak in an imbalance in the euro zone which has developed over the years. "Some consume too much, others too little. Both have blithely continued, until the day of reckoning came", is how Stefan Bruckbauer, Bank Austria's Chief Economist, sums it up.
Sectoral Analysis by the Bank Austria Economics Department:
Enthusiasm for Travel Recovers Only Slightly in 2010
After four years of strong growth, the success story of Austrian tourism came to an end in 2009. In a year dominated by recession, weak, and in some cases, falling consumer demand, reduced willingness to travel in almost all important source markets. This is one of the main conclusions of the latest sectoral analysis by the Bank Austria Economics Department. Despite this, Austrian tourism reported a satisfactory result in an international comparison with demand falling by just under 1 percent and receipts by approximately 3 percent to EUR 22 billion. In fact, Austria was actually able to win back shares of the global tourist flow.
Bank Austria's Kreditverein: Backbone and partner of small and medium-sized companies for 100 years
On 10th July 1910, the local council decided to found a Kreditverein of Zentralsparkasse of the municipality of Vienna. Since then, the secret behind the success of Bank Austria's Kreditverein has been its close cooperation with interest groups and business people in (financial) advisory services for small and medium-sized companies since particularly in challenging times, companies require partners to rely on.
With the new arts award in four categories, Bank Austria is a leading sponsor of the Austrian cultural scene
Bank Austria, one of the leading patrons of the arts in Austria, will begin its call for applications for the Bank Austria Arts Awards 2010 on 19 April 2010.
Bank Austria Business Indicator:
Recovery more robust but is currently not gaining in dynamics
The recovery of Austria’s economy continues and is increasingly becoming stable.
SME Info Days: Bank Austria is providing economic stimulus billion for small and medium-sized enterprises
Bank Austria is providing an economic stimulus billion for SMEs up to a turnover of EUR 50m in Austria. At the moment, there is strong demand among SMEs for securing the financing of upcoming projects and consulting services in this regard. Sponsored loans can help with the implementation of important projects.
Bank Austria Wohnbaubank maintains its market leadership in the difficult financial year of 2009
With a total issue volume of more than EUR 4.6bn, i.e. around one third of all housing bonds issued since 1994, Bank Austria Wohnbaubank also maintains its market leadership among housing banks in the difficult business year of 2009.
Bank Austria Statement on the Comments of the FPÖ
Bank Austria is astonished by the latest claims by FPÖ chairman Heinz-Christian Strache, as these allegations do not reflect the facts.
Bank Austria’s new bank card with motifs typical for the country supports Caritas youth projects
Together with Caritas, Bank Austria will present an absolutely new product in several provinces this week: the bank card with individual design typical for the respective province.
How did Austria's provinces come through the crisis?
Austria's economy was hit by the worst downturn since World War II in 2009. The country is now on the road to recovery, but the effects of the recession are still apparent. To take stock of the situation, Bank Austria Economics has prepared an analysis of how the country's individual regions came through this crisis.
Innovative Reverse Floater Bond series with variable interest
Bank Austria now offers new bonds with interest adjusting every quarter to investors who expect the 3-month EURIBOR to rise moderately only in the next two years: The innovative Reverse Floater Bond series 112 / 2010–2012 has a term of two years and a denomination of EUR 1,000.
Donating a tree for the rain forest's reforestation with the new "Bau(m)spar" building society savings agreement
The new "Bau(m)spar" agreement, developed and exclusively offered by Bank Austria, is the result of a working team of Bank Austria's talent management programme. This talent project group, consisting of people working in the retail banking division, created the innovative "Bau(m)spar" agreement on the issue of sustainability in 2009: customers taking out a Wüstenrot building society savings agreement can decide for a "Bau(m)spar" agreement, thus supporting the association Rainforest of the Austrians in the reforestation of the Esquinas rain forest.
Bank Austria grants Austria's first soft loan to Laos
Bank Austria concluded Austria's first soft loan agreement with the Lao Ministry of Finance for nearly EUR 2 million, once again demonstrating its strength in export financing and its strong presence on the Asian market.
Bank Austria Job news:
Herbert Tempsch to head the new Financing & Advisory Department
On 1 April Herbert Tempsch, 48, will take over as the head of the new Financing & Advisory Department at Bank Austria. In his new role, he will be responsible for structured corporate financing, project financing, export and investment assistance, financing advice and the management of the credit portfolio of Austrian corporate customers.
Martin Frank appointed CEO of UniCredit Leasing (Austria) GmbH
Martin Frank (52) will take over as the new Director of UniCredit Leasing (Austria) as of April 1st, 2010. As the company's new CEO, he will be responsible for sales and will also be management spokesman.
Bank Austria Purchasing Managers' Index in March:
Austrian industry gradually emerges from the crisis
The recovery of Austrian industry is gaining in strength and stability supported by the more favourable global environment. "The sustained improvement in the orders situation is currently leading to an unexpectedly dynamic increase in production output in industry.
Legal matter AKB Privatbank (formerly Bank Austria Switzerland)
Bank Austria sets a new course for arts sponsorship
Bank Austria, one of the leading patrons of the arts in Austria, has been setting new standards on the Austrian art exhibition market for over 20 years with the Bank Austria Kunstforum. The sale of the property on Renngasse to René Benko's SIGNA Holding has allowed Bank Austria to gain an important new partner that will offer the Kunstforum a new home in an up-and-coming pedestrian zone.
Holiday Euro Spring 2010:
Holiday euro worth less than a year ago, particularly overseas
"The value of the holiday euro has decreased significantly compared to last year, particularly in far-off destinations," said Stefan Bruckbauer, chief economist at Bank Austria, summing up the most recent calculation of the holiday euro. This is due to the considerable appreciation of many currencies since the spring of 2009.
Bank Austria approves comprehensive protection and energy efficiency programme
Bank Austria is focusing on a comprehensive climate protection programme in order to reduce CO2 emissions considerably over the next years. Thereby, Bank Austria is making an important contribution to the achievement of the climate objectives of UniCredit Group.
Current analysis of real estate markets in Poland, Slovakia and the Czech Republic:
First stop for "investors' caravan" en route to the East?
The international crisis has hit the commercial real estate markets in Central and Eastern Europe hard. Thus the approximate investment volumes in this respect fell from EUR 9.8 billion in 2008 to EUR 2.5 billion last year. At the same time, investor interest was up again in the last two quarters of 2009, particularly amongst those on the lookout for top properties in the office and retail sector in Poland and the Czech Republic.
Results for the 2009 financial year:
Bank Austria: net profit of EUR 1.1 billion despite market turmoil
Operating profit up by 10 per cent to new record level of EUR 3.6 billion, provisioning charge rises to EUR 2.3 billion, but covered by operating profit. Austrian business divisions and CEE Division profitable.
Bank Austria Economic Indicator:
Economic recovery continues in spring
Positive economic signals have increased in the past few weeks. "Current data indicates that the recovery of Austria's economy is more stable at the beginning of spring and will be able to keep the current speed", says Bank Austria's chief economist Stefan Bruckbauer.
New stepped coupon mortgage bond by UniCredit Bank Austria AG:
Annually rising interest rates guaranteed
Bank Austria is offering security-oriented investors a new six-year mortgage bond for private investors as from March 12, 2010. The stepped coupon mortgage bond offers guaranteed interest rates for the complete term, which are distributed at a fixed date each year.
Bank Austria Student Account:
Plenty of benefits for starting studies
Bank Austria's special offer for students this spring doesn't have long to go. Students that opt for the Bank Austria Student Account by 26 March 2010 will receive not only a laptop case as a welcome gift but also a free account that offers everything you need for this stage of life.
Extraordinary general meeting of Bank Austria:
Decision on capital and reserve increase
Bank Austria's extraordinary general meeting today decided in favour of the capital increase according to the agenda: Its owner, UniCredit, will strengthen Bank Austria's equity base with around EUR 2 bn by acquiring about 29 million shares.
Bank Austria continues advisory focus in its branches:
Individual support in withdrawal from private foreign currency loans, still no forced conversion!
"Foreign currency loans had their advantages because interests in Switzerland were 1.5 to 2 per cent lower on average between 2000 and 2008, leading to an interest advantage of EUR1,500 to EUR2,000 a year with a euro loan worth EUR100,000", explains Rainer Hauser, Bank Austria board member responsible for the Retail Division.
Vienna to become international centre of competence for leadership development within UniCredit Group
At Eiswerkstrasse 20, Kaiserwasser in Vienna's 22nd district, Bank Austria is to erect one of the most innovative, private training and further education facilities in Austria. Following in the footsteps of Turin, this means the Austrian capital will have the second largest centre of competence for leadership development within UniCredit Group.
Bank Austria Purchasing Managers' Index for February:
Surprisingly robust signals from Austria's industry
"Austria's industry sent surprisingly strong signals in February," said Helmut Bernkopf, the member of Bank Austria's Management Board responsible for Corporate & Investment Banking, summarising the results of the current Purchasing Managers' Survey. Austria's industrial firms are profiting more and more from the recovery of the global economy.
Real Invest Austria1 invests in new real estate assets
Real Invest Austria, Bank Austria Real Invest's flagship and domestic market leader among open-end real estate funds, has acquired nine new properties worth around EUR140m in the course of an investment campaign in the past few weeks. Five small real estate assets were sold at attractive prices for reasons of optimisation. The value of properties held by Real Invest Austria thus amounted to around EUR951m as of 22nd February 2010. The current value of assets under management is more than EUR1.25bn.
Reorganisation of Bank Austria's investment banking business
After approval by the Supervisory Board of UniCredit Bank Austria AG and by the Supervisory Board of UniCredit Bank AG, Munich (HypoVereinsbank [HVB], the former Bayerische Hypo- und Vereinsbank AG), investment banking activities in Austria which have so far been bundled within CAIB will be reorganised:
Bank Austria Business Indicator:
Stable recovery, but growth close to stagnation in 2010
“The recovery of the Austrian economy is becoming more stable, but progress is moderate,” according to Bank Austria’s chief economist, Stefan Bruckbauer. The general conditions improved slightly at the turn of the year.
New large-scale project in Donau-City
WED builds new landmark in Vienna
When the first sod is turned for DC Tower 1, Vienna will soon receive a new landmark. Right on the banks of the Danube a new office building is to be built in the most modern urban development zone – Vienna's Donau-City – which will also accommodate a hotel, possibly apartments, and public facilities.
Bank Austria provides an additional EUR 1 billion for municipalities
With a total investment volume of roughly EUR 2.3 billion in 2008 and around 74,000 jobs, Austria's municipalities are an important economic factor. They are responsible for over half of all gross capital investments made by the various government entities. During the crisis in 2009, the investments made by the municipalities may have decreased slightly. Despite this, they remain the leading source of economic stimulus, because their measures tend to be particularly effective in generating employment.
UniCredit Group is still positive on the Austrian Stock Market
UniCredit Group maintains a positive outlook for the Austrian equity market in the first months of the year and foresees a 10% increase of the ATX this year. Some reasons for caution still persist in the overall macro-economic scenario; therefore UniCredit Group suggests picking selected stocks and keeping a close look at the macro-economic indicators this year.
EIB to provide direct loans at favourable conditions to small and medium-sized enterprises together with Bank Austria in the future
Bank Austria and the European Investment Bank (EIB) signed a so-called risk sharing agreement in Vienna on Friday. As a result, the EIB will no longer merely provide pure refinancing for Bank Austria in the SME segment, but will also issue direct, low-interest corporate loans together with Bank Austria as part of a pilot project.
Global Finance names Bank Austria "Best Trade Finance Provider"
The US financial magazine Global Finance has named Bank Austria the "Best Trade Finance Provider 2010" in Austria. This was the result of an annual survey among analysts, managers and technology experts.
Bank Austria provides new ErfolgsAnleihe: a floater bond 2010 – 2015 series 6
With Bank Austria's new ErfolgsAnleihe bond you will be able to secure interests which are adjusted regularly – with a reasonable term of five years. The interests will be adjusted to the 6-month-EURIBOR interbank rate without deduction at certain dates every six months, with the minimum interest rate being 1.5% p.a. 1)2)
Bank Austria Purchasing Managers' Index for January:
Increasingly solid recovery for Austrian industry
In January, the Bank Austria Purchasing Managers' Index (PMI) increased from 50.8 to 51.8 points. "Austrian industry is looking stronger again at the beginning of this year, as the recovery in this sector is moving ahead, step-by-step," said Bank Austria chief economist Stefan Bruckbauer. For the last one-half year, the indicator has been hovering around the growth threshold of 50 points.
New fixed-interest home building bond from Bank Austria Wohnbaubank AG
Bank Austria Wohnbaubank AG has issued a new fixed-interest home building bond. 3.50 % WohnbauAnleihe 2010 – 2022/1 has a term of twelve years. The denomination of this continuous issue is EUR100, with a recommended minimum investment of EUR 1,000.
Real Invest Austria – A successful start to the new year
Real Invest Austria, the flagship of Bank Austria Real Invest (the real estate fund specialist for Bank Austria, a member of UniCredit Group), posted an impressive performance in 2009 despite the challenging market conditions. The undisputed market leader among open-ended real estate funds managed to elude the turbulence on the financial markets and gained around EUR 400 million in new customer funds.
Bank Austria donates EUR 70,000 to earthquake victims in Haiti
Nearly one week after the devastating earthquake in Haiti, employees of Bank Austria have already collected EUR 50,000 in the course of a fund-raising drive launched by UniCredit Group. This is the pleasing interim result after nearly one week since the fund-raising drive will continue until 28th February.
EK Fin enters the small hydroelectric power plant sector
The Upper Austrian company Global Hydro Energy GmbH is internationally successful as a specialist for hydropower technology and offers turbines, control systems and complete solutions for hydroelectric power plants.
UniCredit Group's CEE Analysis:
CEE households navigating troubled waters
After years of solid income growth and rapidly improving living standards of the households in Central and Eastern Europe (CEE), the recent past has been marked by a visible deterioration in the sector's overall standing. "Households have reacted to the crisis with a decline in consumption and an increase in their saving propensity, despite the lower saving capacity," so Federico Ghizzoni, Head of the CEE Banking Division, UniCredit Group.
Bank Austria Business Indicator:
Ringing in the new year with mixed recovery signals
Austria has seen further improvements in economic conditions since the beginning of the new year. "Thanks to the continuing upswing in sentiment in industry and among consumers, the Bank Austria Business Indicator closed the year at a value of 0.2. Following a constant upward trend since April 2009, the Indicator has now entered positive territory for the first time in 14 months," explained Stefan Bruckbauer, chief economist at Bank Austria. "The economy is getting warmed up, and things have started to gather speed again in Austria."
Sectoral analysis by the Bank Austria Economics Department:
Austrian retail industry supported economic development in 2009
In 2009, the year of the crisis, the domestic retail industry was able to increase its sales by 1.2 per cent nominally, thereby making a positive contribution to the economic development, as revealed by the latest sector analysis carried out by the Bank Austria Economics Department.