Hypo Alpe Adria says needs more state aid

FRANKFURT, March 21 Fri Mar 21, 2014 4:47am EDT

Related Topics

FRANKFURT, March 21 (Reuters) - Nationalised Austrian lender Hypo Alpe Adria Bank International AG said it needed more state funds to keep its capital at the minimum levels allowed by banking regulation.

The bank, which has already got 4.8 billion euros ($6.6 billion) in state aid since 2008, said it found that it needed to take further writedowns for the fiscal year 2013 that would push its capital ratios below the regulatory threshold.

Hypo Alpe Adria had already warned earlier this month that it may need more state capital to be able to draw up its 2013 financial results.

($1 = 0.7255 Euros) (Reporting by Maria Sheahan; Editing by Christoph Steitz)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.