Supervisory Board approves Wind-Down plan 2019
Financial Market Authority issues Mandate Decree III
The wind-down activity started in 2015 continues successfully in 2018
- Positive annual result of EUR 810 million.
- Proceeds of more than EUR 650 million from wind-down activity.
- More than EUR 8 billion already distributed to creditors.
- Expected Recovery Rate rises to more than EUR 10 billion.
- Almost 90 per cent of assets wound down.
Executive Board Member Schiefer leaves at his own request.
Publication of the 2018 annual financial statements and consolidated financial statements
- The 2018 annual financial statements (separate financial statements) show a profit from ordinary activity (POA) of EUR +297.0 million (2017: EUR +1,085.2 million). A large amount of extraordinary income was achieved in connection with settlements concluded (EUR +511.7 million), so that the annual result amounts to EUR +810 million. No net income for the period is shown, since this value was notionally set at zero as a result of the formation of a provision. Of the total assets of EUR 3.4 billion, per 31 December 2018 credit balances at OeNB accounted for EUR 2.3 billion and assets still to be wound down accounted for EUR 1.1 billion.
- The consolidated financial statements show a positive POA of EUR +171.2 million (2017: EUR +1,035.7 million) and EUR +511.7 million in extraordinary income from settlements.
- Per the middle of 2018 a further EUR 1.9 billion (63.112%) was paid out to creditors in the context of the second interim distribution.