AUSTRIA: EU WIDENS INVESTIGATION OF BANKS
Article Abstract:
The European Commission has extended the scope of its investigation against eight Austrian banks. The banks were already under investigation of alleged fixing of interest rates within the so-called Lombard Club. Now the Commission is investigating also whether the banks concluded unlawful agreements about the fees for money exchange. The banks have 2 months to respond to the Commission's queries. A decision on the case is expected in the second quarter of 2001.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
AUSTRIA: BANKS TO LOSE FOREIGN CLIENTS?
Article Abstract:
Austrian banks fear to lose thousands of foreign clients and their assets worth billions of schillings if the banking secrecy is cancelled for foreigners following the decision of the European Union. To avoid unfair competition, Austrian banks demand that all OECD countries adopt the new regulations. If neighbouring Switzerland retains its banking secrecy, many clients of western and southern Austrian banks are feared to move their assets to Swiss banks.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
AUSTRIA: IMPROVEMENT FOR BANKS
Article Abstract:
The Austrian central bank, Oesterreichische Nationalbank (OeNB) expects Austrian banks' write-offs for bad debts in year 2000 to amount to just under EUR 1.41bn, down 8% from 1999. The banks' combined operating profits in year 2000 are expected to reach EUR 4.2bn, up EUR 900mn from 1999. In the first half operating profits rose by almost one-third to EUR 2.27bn. In the past 12 months, Austrian banks' net interest margin has risen from 2.33% to 2.34%.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: AUSTRIA: RWA HIVES OFF TRACTOR SALES. AUSTRIA: GROWTH FOR REFORM-WERKE. AUSTRIA: LINDNER UPS SALES IN 1999
- Abstracts: AUSTRIA: ANNUAL INCIDENCE OF LYME DISEASE. AUSTRIA: INCIDENCE OF MALARIA. AUSTRIA: INCIDENCE OF MENINGOCOCCAL MENINGITIS
- Abstracts: AUSTRIA: ENVIRONMENT MANAGEMENT AT OBB. AUSTRIA: CROSS-BORDER LEASING OF RAIL TRACKS. AUSTRIA: OBB DENIES GRANDI STAZIONI DEAL
- Abstracts: AUSTRIA: DETAILS OF ACCIDENT TRAIN. US/AUSTRIA: LEITNER FACED WITH LAWSUIT. AUSTRIA: NEW TENDER ROUND FOR CABLE-LINER