Austria: Dispute between top functionaries at Hypo
Article Abstract:
Arthur Thoni, the president of the board of directors of the Austrian province Tirol bank, Hypo Tirol, accused Hans Rubatscher, the umpire of the board of directors of the bank holding group, Hypo-Anteilsholding, of being involved in the manipulation of the plans for a partnership between Hypo Tirol and Sudtiroler Sparkasse, the south Tirol savings bank. Hypo Tirol is a subsidiary of Hypo-Anteilsholding. Due to the dispute between the top functionaries, four members of the bank committee reclined their positions in the board of directors during the week of 20 November 2001. The mayor of Innsbruck, Herwig van Staa, will plead for a committee of inquiry to come into operation, unless a representation of the facts to the provincial government from the involved parties will take place by the end of November 2001. The partnership between Hypo Tirol and Sudtiroler Sparkasse is suspected to be linked with the permission given to the Austrian company Pitztaler Gletscherbahnen for the construction of a lift within a glacier nature reserve. The Pitztaler Gletscherbahnen is co-owned by the accused Rubatscher.
Publication Name: Presse
Subject: Business, international
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Year: 2001
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Austria: Banks object to EU transfer regulations
Article Abstract:
Banks in Austria are objecting to EU international transfer regulations which state that from March 2003 the banks will not be allowed to charge more for transfers into the eurozone than for domestic transfers. Austria claims that this represents unfair competition as Austria's fees for domestic transfers are much cheaper than elsewhere in the eurozone, meaning that they would have to charge less for international transfers than countries such as Italy. Many Austrian banks have already reduced their costs for international transfers.
Publication Name: Presse
Subject: Business, international
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Year: 2001
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AUSTRIA: SAVINGS BANKS REPORT GROWTH
Article Abstract:
Austria's 68 savings banks report a 12% increase in balance sheet total to Sch 1,269bn in year 2000. Operating profit grew 14% to Sch 10.1bn. Savings deposits declined 4.6% to Sch 340bn, while lending grew 7%. The securities portfolios of clients increased by almost 40% to Sch 1,200bn. The savings banks are Austria's third-biggest bank group after Bank Austria and the Raiffeisen cooperative bank group.
Publication Name: Presse
Subject: Business, international
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Year: 2001
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