Hypo-Alpe-Adria Bank
Encyclopedia
The Hypo Group Alpe Adria (HGAA) is an Austria
n bank
ing group with numerous cross-border activities in eight countries of the Alps
-Adriatic region. Its network of branches and offices extends from Austria
through Italy
and Liechtenstein
, from Slovenia
through Croatia
, Bosnia-Herzegovina, Serbia
, Montenegro
, Hungary
and Germany
on to Brussels
.
There are three strategic business sectors of the Hypo Group—banking, leasing
and consulting. The Group's owner share includes: 49,4% held by Kärntner Landesholding
, 45,6% by Grazer Wechselseitige Versicherung and the remaining 5% by Hypo Alpe-Adria Mitarbeiter Privatstiftung.
Hypo Group Alpe Adria aims to become the leading commercial bank in the Alps-Adriatic region.
In May 2007 the BayernLB
bought 50% plus one share (controlling stake) of HGAA for 1.63 billion Euro
s. On 14 December 2009, BayernLB, Kärntner Landesholding and Grazer Wechselseitige Versicherung sold their stakes in the bank to Austrian government for one Euro each. The bank was nationalised by the Austria
n government to avert a bank collapse.
Austria
Austria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...
n bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
ing group with numerous cross-border activities in eight countries of the Alps
Alps
The Alps is one of the great mountain range systems of Europe, stretching from Austria and Slovenia in the east through Italy, Switzerland, Liechtenstein and Germany to France in the west....
-Adriatic region. Its network of branches and offices extends from Austria
Austria
Austria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...
through Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
and Liechtenstein
Liechtenstein
The Principality of Liechtenstein is a doubly landlocked alpine country in Central Europe, bordered by Switzerland to the west and south and by Austria to the east. Its area is just over , and it has an estimated population of 35,000. Its capital is Vaduz. The biggest town is Schaan...
, from Slovenia
Slovenia
Slovenia , officially the Republic of Slovenia , is a country in Central and Southeastern Europe touching the Alps and bordering the Mediterranean. Slovenia borders Italy to the west, Croatia to the south and east, Hungary to the northeast, and Austria to the north, and also has a small portion of...
through Croatia
Croatia
Croatia , officially the Republic of Croatia , is a unitary democratic parliamentary republic in Europe at the crossroads of the Mitteleuropa, the Balkans, and the Mediterranean. Its capital and largest city is Zagreb. The country is divided into 20 counties and the city of Zagreb. Croatia covers ...
, Bosnia-Herzegovina, Serbia
Serbia
Serbia , officially the Republic of Serbia , is a landlocked country located at the crossroads of Central and Southeast Europe, covering the southern part of the Carpathian basin and the central part of the Balkans...
, Montenegro
Montenegro
Montenegro Montenegrin: Crna Gora Црна Гора , meaning "Black Mountain") is a country located in Southeastern Europe. It has a coast on the Adriatic Sea to the south-west and is bordered by Croatia to the west, Bosnia and Herzegovina to the northwest, Serbia to the northeast and Albania to the...
, Hungary
Hungary
Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The...
and Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
on to Brussels
Brussels
Brussels , officially the Brussels Region or Brussels-Capital Region , is the capital of Belgium and the de facto capital of the European Union...
.
There are three strategic business sectors of the Hypo Group—banking, leasing
Leasing
Leasing is a process by which a firm can obtain the use of a certain fixed assets for which it must pay a series of contractual, periodic, tax deductible payments....
and consulting. The Group's owner share includes: 49,4% held by Kärntner Landesholding
Carinthia (state)
Carinthia is the southernmost Austrian state or Land. Situated within the Eastern Alps it is chiefly noted for its mountains and lakes.The main language is German. Its regional dialects belong to the Southern Austro-Bavarian group...
, 45,6% by Grazer Wechselseitige Versicherung and the remaining 5% by Hypo Alpe-Adria Mitarbeiter Privatstiftung.
Hypo Group Alpe Adria aims to become the leading commercial bank in the Alps-Adriatic region.
In May 2007 the BayernLB
BayernLB
BayernLB or Bayerische Landesbank is a publicly regulated bank based in Munich, Germany and one of the eight Landesbanken. It is 94% owned by the free state of Bavaria and 6% owned by the Sparkassenverband Bayern, the umbrella organization of Bavarian Sparkassen...
bought 50% plus one share (controlling stake) of HGAA for 1.63 billion Euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
s. On 14 December 2009, BayernLB, Kärntner Landesholding and Grazer Wechselseitige Versicherung sold their stakes in the bank to Austrian government for one Euro each. The bank was nationalised by the Austria
Austria
Austria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...
n government to avert a bank collapse.