Hypo Alpe-Adria-Bank International
|
Native name
|
Heta Asset Resolution A.G. |
|---|---|
|
Formerly called
|
Hypo Alpe-Adria-Bank International |
| Aktiengesellschaft | |
| Industry | Financial services |
| Successor |
|
| Founded | 1896 2014 (spin off) |
| Headquarters | 1 Alpen-Adria-Platz, Klagenfurt, Austria |
| Services | former bank under resolution |
 €6.714 billion (2016) |
|
| Total assets |
 €10.788 billion (2016) |
| Total equity |
€997 million (2016) |
| Owner | Austria (100%) |
| Subsidiaries |
|
| Website | heta-asset-resolution.com |
|
Footnotes / references in a consolidated financial statement |
|
Heta Asset Resolution A.G. is a "bad bank" that was the residual asset of the original Hypo Alpe-Adria-Bank International A.G., which was dismantled in 2014. It was owned by the Government of Austria.
The bad bank contained the leasing subsidiary of former Hypo Alpe-Adria-Bank Group in Austria, Italy, Bulgaria, Serbia, Montenegro and Macedonia but not in Bosnia and Herzegovina, Croatia and Slovenia, which were transferred to the "good bank".
In the past Hypo Alpe-Adria-Bank International was also active in Austria, Germany, Italy, Bulgaria, Hungary and Ukraine. However, due to the European debt crisis, the group was split into HBI-Bundesholding AG (consisting of the subsidiary Hypo Alpe-Adria-Bank S.p.A.; Italy), the Balkan banks (Hypo Group Alpe Adria AG; now Addiko Bank) and a bad bank, Heta Asset Resolution AG (ex-Hypo Alpe-Adria-Bank International AG) in 2014. The leasing subsidiaries of the former Hypo Alpe-Adria-Bank International in Italy, Bulgaria, Serbia, Montenegro and Macedonia were retained in the bad bank. The Austrian branches were sold in 2013 (now Austrian Anadi Bank).
The bank was founded in 1896 as a Landes-und Hypothekenbank (state Hypothekenbank). In the 1990s it explosively expanded into the Alps-to-Adriatic region. In 2004 the company was renamed Hypo Alpe-Adria-Bank International AG, as a holding company for the "Hypo Alpe-Adria-Bank" subsidiaries.
In May 2007 BayernLB, the Bavaria-state-owned bank, bought 50% plus one share (controlling stake) of Hypo Alpe-Adria-Bank International for 1.63 billion Euros.
On 14 December 2009, BayernLB, Kärntner Landesholding (Carinthia state holding) 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.
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Wikipedia