Purchase negotiations over SEE-Network with Advent International and EBRD finalized
- Signing secures continuous presence of Hypo Group in South-eastern Europe
- SEE-Network has no business restrictions any more
Klagenfurt am Wörthersee, 23rd, Dec. 2014. Heta Asset Resolution welcomes the agreement over the purchase of Hypo Group Alpe Adria, the SEE-Network of former Hypo Alpe-Adria-Bank International > (SEE-Network). US-fund Advent International and the European Bank for Reconstruction and Development (EBRD) yesterday night signed an agreement to acquire the SEE-Network.
Heta Asset Resolution AG / The sales process of Hypo Group Alpe Adria AG is to be continued
In a letter dated 26.11.2014, the Bayerische Landesbank (BayernLB) announced to Heta Asset Resolution AG that its consent is not necessary for the intended sale of Hypo Group Alpe Adria AG.
However, in the opinion of BayernLB its consent would have been necessary for the already completed transfer of Hypo SEE Holding to the Republic of Austria (FIMBAG).
Michael Mendel succeeds Herbert Walter as new President of the Supervisory Board of HETA
The measures for the wind-down of Hypo Alpe-Adria-Bank introduced with the Austrian Hypo Special Act are fully on schedule. Following the revocation of the banking licence, the transformation into a wind-down unit and the resolution by the General Assembly concerning the sale of the SEE network the wind-down unit is now entering into a new phase for which personnel decisions had to be taken last Friday. Dr. Herbert Walter, for some weeks also on the Supervisory Board of ABBAG, must now depart from the Supervisory Board of Heta in order to be able to comply with his control functions in parent company ABBAG.
Heta Asset Resolution AG: Sale of non-performing loan portfolio of EUR 168mn closed
Klagenfurt am Wörthersee, November 5th, 2014.
On Tuesday, November 4th, 2014 Heta Asset Resolution AG (Heta) and Hypo Group Alpe Adria closed the sale of a portfolio of non-performing loans in the amount of 168 million Euros to B2Holding. The portfolio comprises retail loans in Slovenia, Croatia, Serbia and Montenegro. The closing comes after former Hypo Alpe-Adria-Bank International AG and B2Holding signed binding documentation in August 2014. After approval of the relevant local regulators the transaction is now closed.
Decision to sell Hypo SEE Holding
General Meeting passes resolution in principle on sale to Advent International Restructuring of the Executive Board Vienna/Klagenfurt, 30.10.2014. On Wednesday evening Hypo Alpe-Adria-Bank International AG (HBInt.) took the decision in principle to sell all the shares in Hypo SEE-Holding AG (SEE network) to Advent International with the involvement of the European Bank for Reconstruction and Development (EBRD).
Hypo Alpe-Adria-Bank International AG: Termination of banking licence and continuation as a wind-down entity
Hypo Alpe-Adria-Bank International AG (HBInt.) announces that as of today its licence to conduct banking activities pursuant to the Austrian Banking Law has terminated (deregulation). HBInt. will continue its operations as a wind-down entity in accordance with GSA, Section 3 (Federal Law on the Creation of a Wind-Down Entity). Preconditions for the deregulation of HBInt. were that it no longer undertakes any deposit transactions and no longer holds any qualified participations in credit institutions or financial securities firms. These requirements have been fulfilled as a result of the recent restructuring efforts.
Organisational realignment of Hypo Alpe Adria
The management bodies of Hypo Alpe-Adria-Bank International AG (HBInt.) have today set their course for the organisational realignment of the Group. In accordance with the statutory requirement for HBInt. to be converted into a wind down entity as quickly as possible, it has been decided to transfer all shares in Hypo SEE Holding AG (SEE Holding), which is up for sale, to > a legal entity which is named in the law. A resolution concerning the transfer of HBInt.’s shares in Hypo Alpe-Adria-Bank Italia S.p.A has already been passed at the General Meeting held on 29 August 2014.
Hypo Alpe Adria: Preparations for privatisation of the SEE network according to plan, no further capital increase necessary
First half of 2014: result characterised by provisions in the amount of EUR -1.44 billion for affiliation process of banking subsidiaries in Italy and South-Eastern Europe
- Result of EUR -0.23 billion (without exceptional items) within the limits of what was expected in the EU restructuring plan for 2014.
- Portfolio reduction during the first half of the year leads to a further reduction in total assets by EUR 1.0 billion to EUR 25.2 billion.
- Own issues guaranteed by the federal and provincial governments in the first six months further reduced from EUR 13.4 billion to EUR 12.5 billion.
- Group result after tax and non-controlling interests negative at EUR -1.67 billion
- Exceptional charges in the amount of EUR -1.44 billion in the form of provisions for the preparation of the carve out of the Italian subsidiary and the SEE bank network.
- Core capital ratio (tier 1) as of 30 June 2014 at 4.1% and thus below the statutory minimum, but no further capital increase necessary.
- Second half of 2014 characterised by the organisational separation of the Italian and SEE business branches and by the focus on the remaining wind-down portfolio.
Hypo Alpe Adria Supervisory Board appoints new Chief Risk Officer
The Supervisory Board of Hypo Alpe-Adria-Bank International AG announces the appointment of Rainer Jakubowski as Chief Risk Officer per 15 September 2014. The position has been vacant since the departure of Wolfgang Edelmüller at the end of February, and has been held on a temporary basis by Hypo Alpe Adria CEO Alexander Picker since then.
Announcement Wiener Zeitung - Cancellation deposit business (German)
Die Hypo Alpe-Adria-Bank International AG, Alpen-Adria-Platz 1, 9020 Klagenfurt am Wörthersee (kurz „HBInt“) gibt bekannt, dass gemäß der Restrukturierungsvorgaben die Girokonten, die unter den Einlagenbegriff fallen, mit 20.08.2014 bzw. mit 25.08.2014, gemäß unseren Allgemeinen Geschäftsbedingungen (AGB) in der letztgültigen Fassung (Oktober 2013), gekündigt wurden.
Civil proceedings: " Special Dividend/Consultants” HBInt. and GRAWE reach settlement
The Hypo Alpe Adria and the GRAWE Group - a minority shareholder in Hypo Alpe-Adria Bank International AG until the bank's emergency nationalisation in 2009 - have agreed to a settlement today > before the Provincial Court of Klagenfurt as part of the civil proceedings "Special Dividend/Consultants”. The settlement amount totals EUR 17.5 million.
Clearly negative result for 2013 is the consequence of restructuring obligations and one-off effects
- EU state aid procedure concluded with Commission decision of 3.9.2013
- Result affected by EU Commission orders, weak economic situation and local special risks
- Consolidated result after taxes and minority interests of EUR -1,863.7 million (2012: EUR -22.9 million*)
- Result is within the expected framework of the EU restructuring plan for 2013
- Credit risk provisions increased to EUR -1,362.1 million (2012: EUR -308.5 million)
- SEE banks burdened by special effects to promote sale, but operationally remain positive
- Balance sheet total for the Group considerably reduced, by EUR 7.6 billion to EUR 26.2 billion
- Public liabilities down to EUR 13.2 billion, with liabilities of the State of Carinthia down to EUR 12.2 billion
- Core capital and equity ratios 9.8% (2012: 8.6%) and 14.9% (13.0%) respectively per 31.12.2013
Hypo Alpe-Adria informs the Federal Ministry of Finance about capital calculations
Total capital requirement until autumn 2014 is forecast to amount up to EUR 1.43 billion
Following the conclusion of the meeting of the Supervisory Board of Hypo Alpe-Adria-Bank International AG which took place yesterday amongst others in the presence of the auditor, the Bank has > today as agreed informed the Federal Ministry of Finance about the results of the discussions and its forecast calculations. According to these, capital measures are to be implemented in respect of the annual financial statements per 31 December 2013 (which have been largely confirmed by the auditor) to cover further devaluations and risk provisions.
Remarketing achievements of Hypo Alpe-Adria Asset Platform
In general, Remarketing deals with assets which are coming back to a financial institution (due to clients default or voluntary hand-over) and which should be disposed of profitable and in a value concerning manner.
Starting in 2010, there was a clear objective of Hypo Alpe-Adria to establish a state-of-the-art organization regarding Remarketing, assembling movable assets ready to be remarketed within 12 > countries with group team and local teams, approaching the market to reach customers and achieving best possible prices for the offered movable assets.
CRO Edelmüller resigns from the Management Board as from the end of February
Searching process for the new CRO will start soon
In agreement with the Supervisory Board and the other Management Board Members of Hypo Alpe-Adria-Bank International AG CRO Wolfgang Edelmüller announced today, that he will end his mandate in > the Group Management Board as from 28.02.2014. The 62-years old Chief Risk Officer entered his position after emergency nationalization in April 2010 and acted as interim CEO up to the appointment of Alexander Picker at the beginning of the year.