Austrian banks were early movers into central, eastern and south-eastern Europe. But the traditional Austrian-based parent companies with regional subsidiaries have transformed into modern, integrated entities that bring together staff and technology from across the region, to the benefit of all, says Österreichische Nationalbank governor Ewald Nowotny.
Hypo Alpe Adria – now known as Heta – is a 'bad bank' from the Austrian region of Carinthia that is the first to be wound down according to the EU's Bank Recovery and Resolution Directive. Stefanie Linhardt assesses the situation and looks at who the winners and losers will be.
Having shed two of its assets – the exchanges of Budapest and Ljubljana – the CEE Stock Exchange Group, with owner Vienna Stock Exchange at the helm, is steering a new strategic course. Its aim, as Stefanie Linhardt reports, is to become a leading service provider for central and eastern Europe's exchanges.
For years, Austrian lenders Erste Bank and Raiffeisen Bank have enjoyed strong profits at their central and eastern European operations, but with growth in these economies slowing, more recent results suggest that they may need to rethink their strategies in the region.
The European Central Bank has helped assuage fears of an imminent eurozone breakup, but sovereign, supranational and agency debt management officials must still contend with ratings downgrades and difficult political and fiscal situations in a number of countries. The Banker hears from a range of EU issuers both inside and outside the eurozone.
Austria's government, driven an agenda to ensure that tax-payers do not pay for the financial crisis, which has seen it implement strict measures to fast-track compliance with Basel III rules, appears to show no sign of relenting in its dealings with the country's embattled banks.
The eurozone sovereign debt crisis has not just affected national treasuries, but also European supranationals and government-related entities. Philip Alexander hears from a range of larger and smaller borrowers across the eurozone and beyond.