Vladimír Urbánek (Kurzy.cz)
World markets  |  March 08, 2013 11:40:45

Moody'ss negative outlook for Austrian banks, including Erste

Analysts credit rating agency Moody's gave a negative rating for the Austrian banking sector for the next 12-18 months. A major problem Austrian banks led by the main trio of Erste Group, Raiffeisenbank and UniCredit Bank is a relatively large exposure to Eastern European countries such as Hungary, Romania, Croatia and Slovenia, which are facing significant economic problems.
Austrian banking system is relatively little room to absorb potential losses during bad economic development of the domestic economy and the economies of Central and Eastern Europe. Austrian banks have the largest exposure of all the "western" banks in the countries of the former communist bloc. These countries, however, since 2009, in most cases, faced with the economic recession. Losses generated by the increasing volume of bad loans then significantly cut of the profits from elsewhere.

Austrian banks' capital adequacy ratio is below the European average. At the end of 2011, the core Tier 1 ratio moved for twenty Austrian banks, on average, to 9.6%, which lagged behind the state of the German, French, Italian and Spanish banks. This fact increases the potential risk when carried out stress tests.
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