The HGAA presents figures on the table. Source: AP
HB WIEN. Gottwald Kranebitter HGAA boss said: "The credit risk is diagnosed within the expected range , reflecting the continuing difficult situation of the South East market in 2010. " Kranebitter assumes in the first half , some 600 million euros to set loan loss provisions need to . The manager , who is only in March on the executive chair of HGAA see, the Institute still further in a secure location.
"The equity position of the group is also stable : including the new findings about the necessary risk provisions. For the half-year results , we expect a capital ratio in the group of around ten percent, " said Kranebitter . He pointed to the end of June 2010 was capital injection of € 600 million by the owner , the Republic of Austria, and the former owners , the land of Carinthia. "The bank has a comfortable liquidity cushion , our liquidity position is relaxed and secure , " he added.
The HGAA , Austria’s sixth largest bank , is advised because of its aggressive growth strategy in the markets of Southeast Europe into difficulties . In December, the Republic of Austria had to take over the bank because the German state of Bavaria, the burden no longer wanted to wear . BayernLB , the debacle in Carinthia for almost four billion euro cost .