December 2, 2013 / 12:20 PM / 4 years ago

BAWAG PSK repays another 150 mln eur in Austrian aid

VIENNA, Dec 2 (Reuters) - Austrian lender BAWAG PSK is paying back another 150 million euros in state aid, it said on Monday, bringing repayments to 200 million of the 550 million euros ($749 million) it got during the financial crisis.

BAWAG, owned by investor Cerberus Capital Management and one of six Austrian banks to come under direct ECB supervision after stress tests next year, also confirmed its target to reach a fully loaded Basel III common equity tier 1 capital ratio of at least 9.0 percent of risk-weighted assets by the end of 2013.

“This will make BAWAG PSK one of the best capitalised banks in Austria and allows the bank to execute its strategic business plans without relying on any non-permanent common capital elements such as participation capital,” it said.

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