Bank Austria arranges most ULSG guarantees
Bank Austria played the leading role in arranging credits and guarantees under the Corporate Liquidity Strengthening Act (ULSG). This is the result of the final accounts published by Österreichische Kontrollbank (OeKB) on the use of the ULSG. According to the information, guarantees of roughly EUR 1.3 billion with underlying credits amounting to approximately EUR 2.25 billion were arranged. Bank Austria accounted for 23.8 percent of the total guarantees, amounting to approximately EUR 314 million, and 22.5 percent of the credit volume, a sum of EUR 517.5 million. This means that Bank Austria has the highest share of arranged credits of all Austrian banks. 22 of the 117 guarantees granted under the ULSG were arranged by Bank Austria.
Helmut Bernkopf, Bank Austria director for Corporate & Investment Banking: "The ULSG was a useful tool to support Austrian companies in successfully seeing out the crisis and in improving their liquidity position. I am happy that as market leader in the Austrian corporate banking business we were able to lead from the front in this area too. We are not just a "good weather bank"; we are here to support our corporate clients when the storm clouds gather as well."
The ULSG was created to boost the liquidity of companies, and involved the government offering guarantees to encourage lending. The total guarantee fund amounted to EUR 10 billion, and the deadline for applications ran out on 12 November 2010.
Enquiries: Bank Austria Press Office Austria
Julia Wegenstein, Tel. +43 (0) 50505 - 52854