RPT-FACTBOX-EU ups heat on bailed out banks: Germany, Austria

(Repeats to add Austria to headline)

Oct 16 (Reuters) - Neelie Kroes, the European Competition
Commissioner whose term in office finishes at year-end, holds
the fate of some of Europe's largest state-aided banks in the
palm of her hand.

Here is a list of the top banks in Germany and Austria that
still await her verdict, detailing the aid they received, the
measures they have taken to date and the possible payback
demanded to compensate for state aid.

HYPO REAL ESTATE HRXG.DE (GERMANY)

Type of help: Received guarantees worth 100 billion euros
($149.2 billion), of which 87 billion euros came from the state.
Fully nationalised since October.

Status: Aid plan under consideration. HRE's new management
is refocusing the business on a no-frills refinancing business
for public sector and commercial property projects based on
covered bonds.

BAYERNLB/HYPO GROUP ALPE ADRIA (HGAA) (GERMANY, AUSTRIA):

Type of help: Received a capital injection of 10 billion
euros and a risk shield of 4.8 billion euros from the Bavarian
regional state government. In addition, German national rescue
fund SoFFin gave guarantees for bond sales worth 15 billion
euros.

Austrian subsidiary Hypo Group Alpe Adria received 700
million euros in capital from BayernLB and a 900 million euro
capital injection from the Austrian government.

Status: In-depth investigation launched by Brussels in May.

Possible sanctions: BayernLB could be forced to sell key
assets abroad. They include its Hungarian bank, MKB, which ranks
fourth in Hungary, Hypo's assets in the former Yugoslavia, where
it is a major lender, or Hypo itself. The bank will cut 5600
jobs by 2013.

LBBW (LBWGga.F), LANDESBANK BADEN-WUERTTEMBERG, (GERMANY):

Type of help: Germany's federal state of Baden-Wuerttemberg
and savings banks provided a 5 billion euro capital injection
and almost 13 billion euros in guarantees to prop up the
Stuttgart-based lender.

Status: In-depth probe underway after temporary clearance
granted in June.

Possible sanctions: LBBW still needs to negotiate remedies
with the Commission, but in early October it announced a
restructuring which entails cutting 2500 jobs and shrinking its
balance sheet by 40 percent over the next four years.

HSH NORDBANK [HSH.UL] (GERMANY)

Type of help: The bank's owners, the German regional states
of Hamburg and Schleswig-Holstein, injected three billion euros
of capital and 10 billion euros in guarantees to help
restructure the bank. In addition, Germany's state rescue fund,
SoFFin, made 30 billion euros available to guarantee bonds.

Status: HSH has presented a restructuring plan, which would
see the bank broken up and a reduction in staff of 25 percent,
to the European Commission, although it has yet to comment on
the plan.

NORD LB [NDLG.UL](GERMANY)

Type of help: Nord LB received guarantees worth 10 billion
euros for refinancing from its owners, the German regional
states of Lower Saxony and Sachsen Anhalt.

BAWAG P.S.K. [CCMLPB.UL] (AUSTRIA)

Type of help: BAWAG, Austria's No. 5 bank, has reached a
deal with the Austrian government to get 550 million euros in
participation capital, a form of equity similar to non-voting
preference shares, from the state. The government will also
guarantee certain risky assets. Its main shareholder, U.S.
buyout fund Cerberus, also injected extra capital.

Status: Unlike other Austrian banks, the EU needs to approve
the BAWAG aid. The bank was already bailed out by the government
in 2006 when it narrowly escaped a bank run after it was sued by
creditors of collapsed U.S. futures trader Refco.

Possible sanctions: None expected.

COMMERZBANK (CBKG.DE) (GERMANY):

Type of help: Germany injected 8.2 billion euros in capital
and granted 15 billion euros in guarantees for bonds, with the
state taking a 25 percent stake. In September, Commerzbank said
it would not use 10 billion euros of bond guarantees and would
repay the remaining 5 billion.

Status: Commission approved plan in May. As part of the
deal, Commerzbank will dispose of Eurohypo property finance unit
within the next five years.

The Bank also plans to sell Kleinwort Benson Private Bank,
Dresdner Van Moer Courtens S.A, Dresdner VPV NV, Privatinvest
Bank AG, Reuschel & Co. KG and Allianz Dresdner Bauspar AG by
end-2011, and has been banned from acquisitions for three years.

Additionally, Commerzbank will slash total assets to roughly
600 billion euros from around 1.1 trillion after the sale
Eurohypo.

It was also told not to offer products showing "price
leadership commitment" and to suspend dividend and interest on
its hybrid capital. [ID:nL7643862]

WESTLB [WDLG.UL] (GERMANY):

Type of help: Received 9 billion euros in guarantees from
its owners, including the regional state of North Rhine
Westphalia and regional savings banks.

German rescue fund SoFFin granted a guarantee of 4 billion
euros to WestLB's owners so it can offload 6.4 billion euros
worth of toxic investment assets into a so-called 'bad bank'.
Assets worth "at least 87 billion euros" are likely to be
transferred to the bad bank.

Status: Commission approved aid but wants a change of
ownership by 2011. The bank was told to focus on core business,
end risky activities and slash assets by 50 percent.

IKB IKBG.DE (GERMANY):

Type of help: German rescue fund SoFFin granted guarantees
worth 7 billion euros on top of the 5 billion euros it granted
earlier in the year. Prior to this, IKB received a 2.4 billion
euro capital injection and a risk shelter from the German
banking association and KFW.

Status: IKB was sold to U.S. investment firm Lone Star in
August 2008 after an open tender process, in-line with a
restructuring plan. Brussels approved the help, saying the
significant scaling back of IKB's activities would limit the
distortion of competition created by the state help.

RAIFFEISEN ZENTRALBANK (RZB) (AUSTRIA)

Type of help: Cooperative bank RZB, Austria's
second-biggest, received 1.75 billion euros in participation
capital, a form of equity similar to non-voting preference
shares, from the state. It passed on most of this to its
international arm, the second-biggest lender in eastern Europe.

Status: The aid is covered by a blanket approval of the
Austrian bank rescue package.

ERSTE GROUP BANK (AUSTRIA)

Type of help: Erste, the third-biggest bank in both Austria
and emerging Europe, received 1.2 billion euros in participation
capital, a form of equity similar to non-voting preference
shares, from the Austrian government.

It has applied for another 940 million euros in hybrid debt
from the state, but may opt to replace this with proceeds from a
rights issue.
Status: The aid is covered by a blanket approval of the
Austrian banking package.

OESTERREICHISCHE VOLKSBANKEN AG (VBAG) (AUSTRIA)

Type of help: VBAG, Austria's No. 4 bank, received 1 billion
euros in participation capital, a form of equity similar to
non-voting preference shares, from the Austrian government.

Status: The aid is covered by a blanket approval of the
Austrian banking package.

($1=.6702 Euro)

(Compiled by Kirstin Ridley and Steve Slater in London, Ed
Taylor in Frankfurt, Boris Groendahl in Vienna, Gilbert Kreijger
in Amsterdam, Phil Blenkinsop in Brussels, Andras Gergely in
Dublin, Sven Nordenstam in Stockholm, Julien Ponthus in Paris;
editing by Simon Jessop)