Hypo Alpe Adria Bank changing its name in July – New owners satisfied with investments in Hypo Group

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Hypo Group Alpe Adria, which is active in five markets in former Yugoslavia, went from under the aegis of the state of Austria into the hands of its new owners, Advent International and the European Bank for Research and Development, a year ago.

- We were aware that we were facing a challenging cleansing of the portfolio. In the past 11 months, we have carried out the task, so now we are able to leave the past behind. We now have a clean credit portfolio, because, by transferring additional bad loans from the past to the company Heta Asset Resolution, which remains under the ownership of the state of Austria, we have brought the Group to the point where it has a capital adequacy ratio of 22% and a solid base for financing – said Kissing.

He added that the previous year had been a transitional year, that the Group had continued with the privatization, that it had reorganized internally, defined the potential areas of operation, started the process of optimization and made first steps towards the future sustainable growth and development.