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Austrian banks have $4.1 billion Iceland exposure: paper

VIENNA
Mon Oct 13, 2008 2:30pm EDT

Stocks

   

VIENNA (Reuters) - Austria's banking sector has a total 3 billion euros ($4.1 billion) exposure to Iceland bank debt, Austrian daily Kurier reported over the weekend, quoting "informal sources."

A spokesman for financial markets watchdog FMA declined to comment on the figure on Monday.

Erste Group Bank (ERST.VI) said on Friday it had 300 million euros in Iceland bank debt, while cooperative Raiffeisen Zentralbank, parent of Raiffeisen International (RIBH.VI), said it was exposed but declined to quantify.

Kurier reported that UniCredit's (CRDI.MI) Bank Austria, the country's biggest bank, had around 100 million euros in Iceland bank exposure. Bank Austria spokesman Martin Halama confirmed the figure on Monday.

(Reporting by Boris Groendahl)


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