Austrian lender Hypo Alpe has capital gap after H1 loss
ALPBACH, Austria Aug 28 (Reuters) - Nationalised Austrian bank Hypo Alpe Adria swung to a first-half loss of 859.8 million euros ($1.15 billion), leaving a gap in its capital that will be filled with another injection of funds from the state once the European Commission approves more aid, the bank said on Wednesday.
"The parent institution Hypo Alpe-Adria-Bank International AG is 618.8 million euros short of meeting minimum legal (capital) requirements," the bank said.
"The capital measure of 700.0 million euros necessary to remedy this shortfall was resolved on 23 July 2013 by the general shareholders' meeting and will be implemented immediately following a positive state aid decision by the European Commission" due by autumn, it added. ($1 = 0.7466 euros) (Reporting by Michael Shields; Editing by Ludwig Burger)
- Air strike kills 15 civilians in Yemen by mistake: officials
- North Korea executes leader's powerful uncle in rare public purge |
- Insight: In Yemen, al Qaeda gains sympathy amid U.S. drone strikes
- Twitter backtracks on block feature after users revolt
- Iran angry over U.S. sanctions, nuclear talks interrupted