Sep. 2, 2015, 7:21 AM
- Continuing to pare non-core asets, Citigroup (NYSE:C) agrees to the sale of its consumer banking business in Hungary to Austria's Erste Group (OTCPK:EBKDY). Terms were not disclosed and Citi says the sale won't be material to results.
- The sale includes Citi's retail banking, consumer loans, and card businesses, as well as the transfer of bank employees.
Jun. 5, 2012, 6:59 PM
Moody's downgrades of the debt and deposit ratings of the three largest Austrian banking groups. The senior debt and deposit ratings of Raiffeisen Bank International and UniCredit Bank Austria were both downgraded by one notch, while Erste Group Bank AG (EBKDY.PK) was downgraded by two notches.| Jun. 5, 2012, 6:59 PM
Nov. 4, 2011, 10:09 AM
Oct. 11, 2011, 7:18 AM
Fitch places the A- viability rating of Austria's Erste Banke (EBKDY.PK) on negative watch following the lender's decision yesterday to come clean about its sovereign debt exposure (mostly to Hungary) and take large writedowns. Shares are off another 2% in Europe after an 8% drop yesterday.| Oct. 11, 2011, 7:18 AM
Oct. 10, 2011, 3:07 PM
One outlier in today's rally is Austria's Erste Bank (EBKDY.PK -9%), which dove after taking writedowns on its CDS book and its sovereign holdings, especially those of Hungary. "Clearly disappointing news (and) likely to trigger a cycle of ratings downgrades," says GFI Research.| Oct. 10, 2011, 3:07 PM