Home Page
 
news 07 Nov 12

Hypo Group Starts Selling Balkan Businesses

The Austrian banking group has started putting its subsidiaries in Southeast Europe up for sale.

FriedlNews

Hypo Group on Tuesday launched the sale of the group's units in Slovenia, Croatia, Serbia, Bosnia and Montenegro. Offers have to be submitted by 7 December.

The business units are held by the Austrian-based SEE Holding. Hypo Group's subsidiaries consist of banking and leasing units.

SEE Holding has total assets of €11.0 billion. The six subsidiaries serve 1.1 million customers and operate 250 branches.

In the first six months, the six subsidiaries recorded a net income of €26 million. The subsidiaries in Slovenia and Montenegro are loss-makers, while the Serbian and the Croatian subsidiaries are profitable. The biggest unit is the Croatian subsidiary, followed by the Slovenian subsidiary.

In total, the Austrian bank has a capital shortfall of €2.2 billion.

Talk about it!

blog comments powered by Disqus

Premium Selection

the-improbable-rise-of-isa-mustafa
19 Dec 14

The Improbable Rise of Isa Mustafa in Kosovo

The new Prime Minister has taken a winding path from his time as a Communist youth leader to the top office in government, where his free-market vision for Kosovo will now be tested.