Worries over Volksbanken hit Austrian banks

Discussion in 'Wall St. News' started by ASusilovic, Dec 15, 2009.

  1. LONDON (MarketWatch) -- Worries over the state of the Austrian banking industry continued Tuesday after a report -- swiftly denied by the bank itself -- that Oesterreichische Volksbanken had been put on a watch list by a concerned central bank.

    The report in Austrian newspaper Die Presse said the country's fourth-largest financial institution was viewed as systemically important and had been asked to put forward a new strategy. It came a day after Austria said it had nationalized its sixth-biggest lender, Hypo Group Alpe Adria, after rising loan losses in Eastern Europe threatened to bring down the bank. See story on Hypo Alpe's nationalization.


    Everything just fine...:cool:
  2. I believe they were the first to fold during the 30's.