AUSTRIA: SHARE BUY-BACK BY BANK AUSTRIA

Article Abstract:

Bank Austria is to clean up its capital structure and buy back ordinary shares. By the end of May 2000, the bank will have no more than 114mn ordinary shares. About 1.991mn participation certificates, which are considered outdated, are to be converted into ordinary shares. The bank refers to the fact that it has exceeded its equity ratio target of 6%. According to a spokesman, Bank Austria is to use a part of the capital for expansion in central and eastern Europe.

Securities issued, listed

---

TURKEY: BANK AUSTRIA EYEING PRIVATISATION MARKET

Article Abstract:

CA IB , the subsidiary of Austria's biggest bank Bank Austria for foreign operations, has set up a representative office in Turkey. It is the first such representation of an Austrian bank in Turkey. CA IB sees chances in the Turkish government's privatisation plans, which are estimated to result in deals worth US$ 50bn in the next three years. The Austrian bank already has experience from privatisation projects in eastern Europe.

Turkey

---

AUSTRIA: PRIVATE BANKING WITH BA CA GROUP

Article Abstract:

Within the Bank Austria/Creditanstalt (BA CA) group is to keep SKWB Schoellerbank, formerly subsidiary of HypoVereinsbank. SKWB Schoellerbank will concentrate on asset management, investment advice and savings products for provision for old age and target individuals with assets of EUR 70,000 or more. The corporate client and property business will be transferred to Creditanstalt. Meanwhile Bank Austria's BankPrivat will offer financial services to individuals with assets of no less than EUR 1mn. In February 2001 BankPrivat opened a subsidiary in Abu Dhabi. It is eyeing also east European markets. Bank Austria/Creditanstalt claims market leadership in the Austrian private banking market that is said to be worth about EUR 30bn and growing at an annual rate of more than 10%. Between them BankPrivat and SKWB Schoellerbank manage assets worth EUR 7.27bn.

Securities & Commodities Exchanges, Securities and Commodity Exchanges, Strategy & planning, Retail Banking Services, Clearing Banks, Financial Transactions Processing, Reserve, and Clearinghouse Activities, Security and commodity exchanges, Debt & Equity Securities, United Arab Emirates, Retail banking, Bank clearinghouses, Bayerische Hypo- und Vereinsbank AG, SKWB Schoellerbank AG

Similar abstracts:

• Abstracts: AUSTRIA: NEW WASTE INCINERATION PLANT FOR VIENNA. AUSTRIA: EVN BETTING ON WATER. AUSTRIA: EXPANSION OF WASTE INCINERATION PLANT
• Abstracts: AUSTRIA: NEW RAILWAY STATION FOR INNSBRUCK. AUSTRIA: LUXURY HOSPITAL PROJECT APPROVED. AUSTRIA: PRIVATE HOSPITAL PLANNED IN KREMS
• Abstracts: AUSTRIA/EAST EUROPE: FURTHER CUTBACKS AT AGRANA. AUSTRIA: IMPROVEMENT FOR AGRANA IN 1999/2000. AUSTRIA: AGRANA RESULTS FOR 1999

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.