The Bank of Austria has received €1bn from its parent company, UniCredit, to boost its capital as the bank’s central and eastern European (CEE) businesses are transferred to UniCredit’s Milan headquarters. The approximately 500 CEE related jobs in Vienna will be unaffected. “While we have been working with our partners on a number of initiatives that aim at improving the competitiveness of our business operations across Europe, it is important for us not to lose sight of the fact
The Bank of Austria has received €1bn from its parent company, UniCredit, to boost its capital as the bank’s central and eastern European (CEE) businesses are transferred to UniCredit’s Milan headquarters. The approximately 500 CEE related jobs in Vienna will be unaffected. This shift however will hinder the Bank of Austria’s capital position as regulators may enforce more stringent capital requirements on the bank.