July 21, 2016 / 10:16 AM / 3 years ago

Austria's Heta says wind-down going better than expected

VIENNA, July 21 (Reuters) - Austrian “bad bank” Heta Asset Resolution is exceeding its targets on the wind-down of its assets and will revise its forecast for its cash holdings upwards, the company said on Thursday.

“Yes, it is going better (than expected), but it will get increasingly difficult (to maintain that level),” Heta’s Chief Executive Prince Sebastian von Schoenaich-Carolath told reporters.

Heta, formed from the rump of failed lender Hypo Alpe Adria, will present the revised forecast for its cash holdings in August along with its first-half results and a wind-down plan it must submit to the Austrian authorities, it said in a company presentation. (Reporting by Alexandra Schwarz-Goerlich; writing by Francois Murphy; Editing by Shadia Nasralla)

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