ITALY: TIROLER SPARKASSE EXPANDS

Article Abstract:

Tiroler Sparkasse (TiSpa) and Immorent AG have set up a joint venture leasing company in Bolzano, northern Italy. The northern Italian leasing market is said to be interesting in taxation terms. Earlier in year 2000 TiSpa acquired a 20% stake in the Bolzano-based asset management company Alpisim SPA, which it is to develop into a small but exclusive asset manager.

All Other Nondepository Credit Intermediation, Finance Leasing, Misc. business credit institutions, Lease financing, Immorent AG, Tiroler Sparkasse

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AUSTRIA: ERSTE UPS STAKE IN SALZBURGER SPARKASSE

Article Abstract:

Erste Bank has raised its stake in Salzburger Sparkasse Bank to 95.7% by taking over the 25.9% stake of the city of Salzburg. The deal is worth Sch 841.4mn plus Sch 14.4mn in dividends for year 2000. With a balance sheet total of Sch 3.57bn, Salzburger Sparkasse is Austria's third-biggest savings bank. Last financial year return on equity was 14%. Erste Bank said that it is not planning no merger of the two banks.

Erste Bank

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AUSTRIA/ITALY: HYPO TIROL SEEKING LEADERSHIP

Article Abstract:

Hypo Tirol , the regional bank owned by the Austrian state of Tirol, aims to become the market leader in the regional market in not just Austrian Tyrol but also in Italian Tyrol and Trentino by 2003. The bank is to open its first branch in Italy on 13 March 2001 in Bolzano. Hypo Tirol expects a balance sheet total of Sch 74.5bn and a profit on ordinary activities of Sch 315mn .

Foreign operations

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