Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 1 (8 lettori)
- Creatore Discussione negusneg
- Data di Inizio
-
- Tags
- additional tier 1 bail in basilea 3 coco bonds crd iv genussscheine grandfathering hybrid bond loss absorption lower tier 2 make whole amount matusalem bond obbligazioni irredimibili obbligazioni perpetue obbligazioni subordinate perpetual bond preference shares restricted tier 1 tier 1 upper tier 2
- Stato
steff
Forumer storico
oevag XS0359924643
Meno male che c'e' il taglio del nominale............. altrimenti questa dove andava su Marte
OEST.VOLKSBKN 08/UND. FLR (WKN A0TUQG, ISIN XS0359924643) - Profil - Aktien, Aktienkurse - ARIVA.DE
mi confermate rialzo anche da Bloomberg?
Meno male che c'e' il taglio del nominale............. altrimenti questa dove andava su Marte
OEST.VOLKSBKN 08/UND. FLR (WKN A0TUQG, ISIN XS0359924643) - Profil - Aktien, Aktienkurse - ARIVA.DE
mi confermate rialzo anche da Bloomberg?
marc
Forumer storico
grazie bos
marc
Forumer storico
Tobia
Forumer storico
bosmeld
Forumer storico
guardando ai siti tedeschi ancora in accelerazione.
gli Irs di dpb
D.POSTBANK FDG TR.05/UND. (WKN A0D24Z, ISIN DE000A0D24Z1) - Profil - Aktien, Aktienkurse - ARIVA.DE
D.POSTBANK FDG TR.04/UND. (WKN A0DEN7, ISIN DE000A0DEN75) - Profil - Aktien, Aktienkurse - ARIVA.DE
baca deve valere MINIMO COME DPB...
bene anche eurohyp (peccato che ne ho prese poche....)
Eurohypo Capital Funding Tr. 1 (WKN 542376, ISIN XS0169058012) - Profil - Aktien, Aktienkurse - ARIVA.DE
per quanto riguarda oevag irs, se tornano in utile in 2010 e pagassero cedola nel 2011. dovrebbe quotare a mio avviso almeno 44-45
OEVAG FIN.(JE) 04/UND.FLR (WKN A0DC0M, ISIN XS0201306288) - Profil - Aktien, Aktienkurse - ARIVA.DE
se invece paga nel 2012, intorno a 40 mi sembra una giusta quotazione
( mi sono tenuto basso sulla valutazione....)
gli Irs di dpb
D.POSTBANK FDG TR.05/UND. (WKN A0D24Z, ISIN DE000A0D24Z1) - Profil - Aktien, Aktienkurse - ARIVA.DE
D.POSTBANK FDG TR.04/UND. (WKN A0DEN7, ISIN DE000A0DEN75) - Profil - Aktien, Aktienkurse - ARIVA.DE
baca deve valere MINIMO COME DPB...
bene anche eurohyp (peccato che ne ho prese poche....)
Eurohypo Capital Funding Tr. 1 (WKN 542376, ISIN XS0169058012) - Profil - Aktien, Aktienkurse - ARIVA.DE
per quanto riguarda oevag irs, se tornano in utile in 2010 e pagassero cedola nel 2011. dovrebbe quotare a mio avviso almeno 44-45
OEVAG FIN.(JE) 04/UND.FLR (WKN A0DC0M, ISIN XS0201306288) - Profil - Aktien, Aktienkurse - ARIVA.DE
se invece paga nel 2012, intorno a 40 mi sembra una giusta quotazione
( mi sono tenuto basso sulla valutazione....)
Ultima modifica:
Martilde
Forumer attivo
AAreal
Non mi accetta l' ordine, hanno veramente bloccato il titolo?Già Fatto....Certo un Gain del 9400% non l'ho mai fatto
Il Bello è che mi hanno pure bloccato l'operatività sul titolo.Quasi Quasi era meglio non segnalarlo
Zorba
Bos 4 Mod
21.04.2010
VBAG achieves turnaround in 2010 after a difficult year in 2009
Wenzel: We have a sound capital base and are thus an attractive and strong partner.
Vienna (21 April 2010) Österreichische Volksbanken-AG (VBAG) presented its consolidated results for 2009 at the balance sheet press conference it held today (Wednesday). It reported the best operating result in the history of the Bank at euro 405 million. However, increased risk provisions for loans and advances as well as write-downs on real estate and participations lead to an annual result before taxes of euro -943.5 million. “The year just ended has certainly been the most difficult for our Group, yet we halted the negative trend, stabilised the Bank and, according to an initial forecast in the first quarter of 2010, have achieved a turnaround at Group level,” said VBAG Chief Executive Officer Gerald Wenzel.
Since 1 May 2009, Gerald Wenzel has performed the role of Chief Executive Officer at VBAG and has since set rigorous measures for the positive development of the Group. In 2009 extensive changes in segment strategy in some cases were necessary for the strategic Group segments – Corporates, Retail and Leasing, Real Estate and Financial Markets – both in Austria and the CEE countries. Wenzel: “We followed our convictions here and made a clean sweep; i.e. we concentrated on our core business in order to clear the way for good performance in 2010.”
Merging the IT systems and staff and service divisions of Investkredit and VBAG laid the foundation for leveraging diverse synergies in 2009. A reduction in general administrative expenses already led to savings amounting to euro 64.1 million in 2009. In addition, the Regio project – the sale of retail banks to the Volksbank primary banks (VB Wien, Ärztebank, Immo-Bank and, during the course of 2010, VB Linz-Mühlviertel) – was realised.
The segments in 2009 – an overview
Retail (VBI & Leasing)
The strategy of developing markets in the CEE countries with moderate and mainly organic growth proved to be successful. In 2009, VBI generated a profit of euro 47.5 million. Wenzel: “Volksbank International is and will remain a strategic pillar of our Group. There are no plans to dispose of our CEE subsidiaries.” The Leasing business performed well both nationally and internationally, reporting a profit of euro 5.3 million.
Corporates
In 2009 it became clear that the Austrian core customer business is encouragingly stable – including at Investkredit. Problems were caused by active CEE expansion before the crisis. Wenzel: “This made it clear that we had to realign the business, leading us to close down unprofitable representations in 2009. With the representations in the Czech Republic and Poland the Investkredit will make new deals in 2010.”
Financial Markets
2009 witnessed a Group record in trading income at euro 120.7 million. Wenzel: “This result is customer-driven and not based on speculation.”
Real Estate
Business opportunities were considerably reduced in 2009 due to the market situation. Wenzel: “We decided to redimension and to concentrate on the core business. Holding real estate assets is not our core business. We are thus examining the possibility of selling Europolis.”
Business development
Despite the easing of the situation on the money and capital markets, VBAG placed particular emphasis on the provision of liquidity and capital in the 2009 fiscal year in order to be able to provide customers with sufficient liquidity and to ensure a sound capital basis.
Nevertheless, the 2009 fiscal year was characterised by a number of negative events. It was necessary to recognise large provisions for credit risks. This negative development was also reflected in the real estate markets in the form of significant reductions in carrying values on the balance sheet. Finally, revaluations in the VBAG Group’s securities and participation portfolio also led to significant write-downs.
In addition, Corporate business within Austria still saw a pronounced slowdown in demand for loans, with many companies opting to postpone investments and delay or no longer fully utilise loans that have already been granted. As a result, net interest income of the Corporate segment fell short of the previous year’s figure by euro 34 million, amounting to euro 137 million.
The high level of net fee and commission income in 2008 was not maintained. A year-on-year decline of euro 35 million was posted in the year under review. This development is attributable to a number of factorsDue to the drop in demand for new loans, commission from lending operations declined from euro 39 million to euro 33 million. The conscious move away from loans in foreign currencies as part of a risk strategy adapted to the markets resulted in a fall in profit from foreign exchange business from euro 34 million to euro 17 million. Finally, the lower customer demand for securities services in 2009 led to a euro 7 million decline in the results.
Trading income improved, increasing by euro 79 million year on year. This extremely positive development was attributable to successful sales of new issues, exploiting volatilities relating to spreads and hedging swap positions in good time. Average utilisation of the trading book limit was 55% in 2009 – an indication of the very conservative risk strategy of the VBAG Group.
At euro 560 million, general administrative expenses decreased by euro 64 million compared to the previous year, demonstrating the effectiveness of the cost reduction programmes that have been initiated. In the areas of operating expenditure and staff costs, year-on-year savings totalled euro 33 million and euro 31 million respectively. The number of employees in Austria (adjusted for the number of staff employed in Austria at the retail banks sold in 2008) fell to from 1,535 at the end of the year to 1,467. Outside Austria, the branch network was optimised, in particular in Ukraine. The decline in employee numbers outside Austria from 6,846 to 6,390 is chiefly attributable to Ukraine. At the end of 2009, a total of 7,857 employees (excluding employees of the retail banks sold in Austria) supported VBAG’s customers in 584 sales offices in Austria and abroad.
The impact of the financial crisis on the real economy is clearly reflected in risk provisions for the lending business. Risk provisions were increased to euro -863 million. The largest increases related to the Corporates segment, where risk provisions amounted to euro -383 million. Provisions at the CEE banks rose to euro -175 million, while those in the Real Estate segment rose to euro -169 million.
Balance sheet and equity
At 31 December 2009, total assets amounted to euro 48.1 billion. After adjustment for the balance sheet figures of the sold retail banks (including Volksbank Linz-Mühlviertel rGmbh), this corresponds to a decline of euro 3 billion (6.0%) compared to 31 December 2008.
The decrease in amounts owed to customers of euro -1.3 billion was more than compensated by a rise in debts evidenced by certificates (primary with government guarantees). The latter showed a net growth of euro 2.4 billion and put VBAG into an excellent liquidity position.
As of 31 December 2009, the VBAG Group had eligible own funds of euro 3.7 billion. The Tier I capital ratio (ratio of core capital to the assessment base for credit risk) was 10%, while the Tier I capital ratio in relation to total risk was 9.2%. In relation to total risk the equity ratio stood at 12.5 %. Available equity exceeded regulatory requirements by over euro 1.3 billion (56%). These figures demonstrate VBAG Group’s outstanding capital base.
VBAG partner search: we are consciously looking for someone who suits us
Like almost all large banks in Austria, in 2009 VBAG utilised the equity-strengthening measures amounting to euro 1 billion offered by the Republic of Austria through the subscription of participation capital without diluting the shares of existing shareholders. Gerald Wenzel: “It goes without saying that our key concern is now to repay the participation capital to the Republic and thus to Austrian tax payers as quickly as possible. For this reason we are currently evaluating possible strategic partnerships as quickly as possible. We are consciously looking for someone who suits us. We are seeking the best solution and will not make any rash decisions. The process of seeking a partner has been progressing intensively for some weeks and is yielding a number of interested parties. We are currently entering into more detailed negotiations with some of these potential partners in order to develop joint future scenarios.”
Key figures from the VBAG 2009 consolidated financial statements:
Annual result before taxes: euro -943.5 million
Annual result after taxes: euro -1,123 million
Total assets: euro 48.1 billion
Loans and advances to customers: euro 24.2 billion
Eligible own funds: euro 3.7 billion
Tier I ratio: 10.0%
Equity ratio: 12.5%
Surplus capital: euro 1,321 billion
Net interest income: euro 424.2 million
7,857 employees
584 sales offices
Contact: Company Spokesman Walter Gröblinger
Tel : +43(0)50 4004-3864
E-Mail: [email protected]
Volksbank AG - VBAG achieves turnaround in 2010 after a difficult year
VBAG achieves turnaround in 2010 after a difficult year in 2009
Wenzel: We have a sound capital base and are thus an attractive and strong partner.
Vienna (21 April 2010) Österreichische Volksbanken-AG (VBAG) presented its consolidated results for 2009 at the balance sheet press conference it held today (Wednesday). It reported the best operating result in the history of the Bank at euro 405 million. However, increased risk provisions for loans and advances as well as write-downs on real estate and participations lead to an annual result before taxes of euro -943.5 million. “The year just ended has certainly been the most difficult for our Group, yet we halted the negative trend, stabilised the Bank and, according to an initial forecast in the first quarter of 2010, have achieved a turnaround at Group level,” said VBAG Chief Executive Officer Gerald Wenzel.
Since 1 May 2009, Gerald Wenzel has performed the role of Chief Executive Officer at VBAG and has since set rigorous measures for the positive development of the Group. In 2009 extensive changes in segment strategy in some cases were necessary for the strategic Group segments – Corporates, Retail and Leasing, Real Estate and Financial Markets – both in Austria and the CEE countries. Wenzel: “We followed our convictions here and made a clean sweep; i.e. we concentrated on our core business in order to clear the way for good performance in 2010.”
Merging the IT systems and staff and service divisions of Investkredit and VBAG laid the foundation for leveraging diverse synergies in 2009. A reduction in general administrative expenses already led to savings amounting to euro 64.1 million in 2009. In addition, the Regio project – the sale of retail banks to the Volksbank primary banks (VB Wien, Ärztebank, Immo-Bank and, during the course of 2010, VB Linz-Mühlviertel) – was realised.
The segments in 2009 – an overview
Retail (VBI & Leasing)
The strategy of developing markets in the CEE countries with moderate and mainly organic growth proved to be successful. In 2009, VBI generated a profit of euro 47.5 million. Wenzel: “Volksbank International is and will remain a strategic pillar of our Group. There are no plans to dispose of our CEE subsidiaries.” The Leasing business performed well both nationally and internationally, reporting a profit of euro 5.3 million.
Corporates
In 2009 it became clear that the Austrian core customer business is encouragingly stable – including at Investkredit. Problems were caused by active CEE expansion before the crisis. Wenzel: “This made it clear that we had to realign the business, leading us to close down unprofitable representations in 2009. With the representations in the Czech Republic and Poland the Investkredit will make new deals in 2010.”
Financial Markets
2009 witnessed a Group record in trading income at euro 120.7 million. Wenzel: “This result is customer-driven and not based on speculation.”
Real Estate
Business opportunities were considerably reduced in 2009 due to the market situation. Wenzel: “We decided to redimension and to concentrate on the core business. Holding real estate assets is not our core business. We are thus examining the possibility of selling Europolis.”
Business development
Despite the easing of the situation on the money and capital markets, VBAG placed particular emphasis on the provision of liquidity and capital in the 2009 fiscal year in order to be able to provide customers with sufficient liquidity and to ensure a sound capital basis.
Nevertheless, the 2009 fiscal year was characterised by a number of negative events. It was necessary to recognise large provisions for credit risks. This negative development was also reflected in the real estate markets in the form of significant reductions in carrying values on the balance sheet. Finally, revaluations in the VBAG Group’s securities and participation portfolio also led to significant write-downs.
In addition, Corporate business within Austria still saw a pronounced slowdown in demand for loans, with many companies opting to postpone investments and delay or no longer fully utilise loans that have already been granted. As a result, net interest income of the Corporate segment fell short of the previous year’s figure by euro 34 million, amounting to euro 137 million.
The high level of net fee and commission income in 2008 was not maintained. A year-on-year decline of euro 35 million was posted in the year under review. This development is attributable to a number of factorsDue to the drop in demand for new loans, commission from lending operations declined from euro 39 million to euro 33 million. The conscious move away from loans in foreign currencies as part of a risk strategy adapted to the markets resulted in a fall in profit from foreign exchange business from euro 34 million to euro 17 million. Finally, the lower customer demand for securities services in 2009 led to a euro 7 million decline in the results.
Trading income improved, increasing by euro 79 million year on year. This extremely positive development was attributable to successful sales of new issues, exploiting volatilities relating to spreads and hedging swap positions in good time. Average utilisation of the trading book limit was 55% in 2009 – an indication of the very conservative risk strategy of the VBAG Group.
At euro 560 million, general administrative expenses decreased by euro 64 million compared to the previous year, demonstrating the effectiveness of the cost reduction programmes that have been initiated. In the areas of operating expenditure and staff costs, year-on-year savings totalled euro 33 million and euro 31 million respectively. The number of employees in Austria (adjusted for the number of staff employed in Austria at the retail banks sold in 2008) fell to from 1,535 at the end of the year to 1,467. Outside Austria, the branch network was optimised, in particular in Ukraine. The decline in employee numbers outside Austria from 6,846 to 6,390 is chiefly attributable to Ukraine. At the end of 2009, a total of 7,857 employees (excluding employees of the retail banks sold in Austria) supported VBAG’s customers in 584 sales offices in Austria and abroad.
The impact of the financial crisis on the real economy is clearly reflected in risk provisions for the lending business. Risk provisions were increased to euro -863 million. The largest increases related to the Corporates segment, where risk provisions amounted to euro -383 million. Provisions at the CEE banks rose to euro -175 million, while those in the Real Estate segment rose to euro -169 million.
Balance sheet and equity
At 31 December 2009, total assets amounted to euro 48.1 billion. After adjustment for the balance sheet figures of the sold retail banks (including Volksbank Linz-Mühlviertel rGmbh), this corresponds to a decline of euro 3 billion (6.0%) compared to 31 December 2008.
The decrease in amounts owed to customers of euro -1.3 billion was more than compensated by a rise in debts evidenced by certificates (primary with government guarantees). The latter showed a net growth of euro 2.4 billion and put VBAG into an excellent liquidity position.
As of 31 December 2009, the VBAG Group had eligible own funds of euro 3.7 billion. The Tier I capital ratio (ratio of core capital to the assessment base for credit risk) was 10%, while the Tier I capital ratio in relation to total risk was 9.2%. In relation to total risk the equity ratio stood at 12.5 %. Available equity exceeded regulatory requirements by over euro 1.3 billion (56%). These figures demonstrate VBAG Group’s outstanding capital base.
VBAG partner search: we are consciously looking for someone who suits us
Like almost all large banks in Austria, in 2009 VBAG utilised the equity-strengthening measures amounting to euro 1 billion offered by the Republic of Austria through the subscription of participation capital without diluting the shares of existing shareholders. Gerald Wenzel: “It goes without saying that our key concern is now to repay the participation capital to the Republic and thus to Austrian tax payers as quickly as possible. For this reason we are currently evaluating possible strategic partnerships as quickly as possible. We are consciously looking for someone who suits us. We are seeking the best solution and will not make any rash decisions. The process of seeking a partner has been progressing intensively for some weeks and is yielding a number of interested parties. We are currently entering into more detailed negotiations with some of these potential partners in order to develop joint future scenarios.”
Key figures from the VBAG 2009 consolidated financial statements:
Contact: Company Spokesman Walter Gröblinger
Tel : +43(0)50 4004-3864
E-Mail: [email protected]
Volksbank AG - VBAG achieves turnaround in 2010 after a difficult year
Topgun1976
Guest
bosmeld
Forumer storico
Si non si può + comprare
è successo un giorno anche su bawag, poi la cosa è stata sistemata.
potrebbe trattarsi di un errore momentaneo
- Stato