Hypo Group Alpe Adria
|Industry||Finance and Insurance|
|Products||Commercial banking, Investment banking, Leasing, Asset management|
The Hypo Group Alpe Adria (HGAA) is an Austrian banking group with numerous cross-border activities in the Alps-Adriatic region. The group is active in Austria, Germany, Italy, Slovenia, Croatia, Bosnia-Herzegovina, Serbia, Montenegro, Republic of Macedonia, Bulgaria, Hungary and Ukraine.
On 14 December 2009, BayernLB, Kärntner Landesholding and Grazer Wechselseitige Versicherung sold their stakes in the bank to the Austrian government for 1 Euro each. The bank was nationalised by the Austrian government to avert a bank collapse. It is expected that between 13 and 19 billion Euros of outstanding loans will never be paid back; to avoid bankruptcy, the Austrian taxpayers will have to cover this loss. 
The headquarters, which accounts for around 500 employees, is located in Klagenfurt, Austria and is responsible for controlling the subsidiary banks in Austria, Italy and South-Eastern Europe as well as those markets from which the bank is currently withdrawing (wind-down markets).
In March 2014, the Austrian government decided to split HGAA into a Balkans banking unit, an Italian business and a bad bank, Heta Asset Resolution. The Balkans unit is to be sold in 2015 to Advent International (80%) and the European Bank for Reconstruction and Development (20%). It was intended to wind down Heta Asset Resolution over a period of years.
On 1 March, 2015 the Financial Market Authority of Austria imposed a moratorium on debt and interest payments by Heta Asset Resolution on unguaranteed debt, after an audit found that it had a capital shortfall of up to 7.6 billion euros.
- "Group Structure: Material Subsidiaries as of 31.12.2012". Hypo-alpe-adria.com. May 5, 2013.
- "BayernLB übernimmt Hypo Alpe Adria". Handelsblatt (in German). May 22, 2007.
- (German) "BayernLB kauft sich von Hypo Group Alpe Adria frei", Handelsblatt (in German), December 14, 2009
- Reuters: "Austria nationalises ailing Hypo"
- (German) "Die Hypo und die Rechenkünstler", Die Presse (in German), 2014-02-14
- "Austria nationalises ailing Hypo -FinMin". Reuters. Retrieved 2014-01-04.
- bloomberg.com: "Hypo Alpe Debt Cut Four Steps as a kind of Insolvency Not Ruled Out" 15 Feb 2014
- bloomberg.com: " Faymann Evokes 1931 Austria Creditanstalt Crash on Hypo Alpe" 17 Feb 2014
- Michael Shields (2014-12-23). "Austria sells Hypo Balkans network to private equity firm Advent". Reuters.
- "Austria imposes debt moratorium on Heta "bad bank"". Reuters. 2015-03-01.
|Wikimedia Commons has media related to Hypo Group Alpe Adria.|
- Official website
- Hypo Alpe Adria-A Bank Scandal in Austria
- Hypo-Alpe-Adria-Bank (Scandalpe): Update of the Scandal
- Hypo Alpe-Adria Bank Headquarters by Morphosis
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