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UniCredit's Bank Austria sees 2010 caphike

Source: Reuters - Thu 29th Oct 2009

UniCredit Bank Austria,the unit managing most of UniCredit's emerging European banks,will get fresh capital from its parent after UniCredit's capital raising, Bank Austria's head was quoted as saying on Thursday.

"The capital increase will start in January on the group level and will be concluded in the first quarter" Bank Austria's new chief executive, Willibald Cernko, was quoted as saying in an interview with Austrian daily Wirtschafts Blatt.

"Right after that, there will be a capital injection into Bank Austria" Cernko said. He added that Bank Austria's core Tier 1 capital ratio would rise to around 9 percent after the capital increase, from 7.2 percent at the end of June.

Cernko said that Bank Austria was sticking to plans to sell its stake in 3 Banken Gruppe, a group of three cross-owned regional banks, but that they would be kept on ice until markets were in the right shape for such a deal again.

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