Press Releases 2016


Addiko Bank – a new brand for a new, “straightforward bank”

Vienna, 7 July 2016Addiko Bank today was announced as the new brand under which the former Hypo Group Alpe Adria AG and its banking network in Southeast Europe will start operating from 11 July onwards. The new brand identity reflects the bank’s new strategy and positioning, while underlining its commitment to improve the way banking should be done: “straightforward”.

“Straightforward banking” underlines the bank’s desire to address the big challenge in consumer banking today - clients increasingly demanding simpler products and practical, hassle-free services. Addiko Bank acknowledges that banking needs to become more convenient and client-focused.

“Straightforward banking is what the new Addiko brand will stand for. It is what we will offer to our clients, and what will set us apart from the competition. We want to be the bank that promises and delivers with speed and efficiency. This is how we will become the bank of choice for our clients across the markets that we serve”, said Ulrich Kissing, CEO of Addiko Bank AG.

Addiko Bank will focus on essentials, efficiency and simplicity. These three principles represent what “straightforward banking” stands for: a more focused product and service offering, more efficient procedures and processes, and simpler communication through a more client-centric approach. With the rebranding the bank is not only changing its name and visual identity, but it seeks to address customers’ demands by decreasing complexity. Clearer, simpler and more direct service for its customers will be at the heart of the bank’s future offering.

The Addiko brand is a result of a multi-stage brand building process and was derived from extensive research among clients and employees. The new brand design, positioning and visual identity were developed with Croatian creative agency Bruketa&Žinić and London-based branding consultancy Prophet.



Hypo Group Alpe Adria AG presents consolidated 2015 financial report

Vienna, 25th May 2016. Hypo Group Alpe Adria AG (HGAA), which operates a leading retail and SME banking network in Southeast Europe, today released its consolidated 2015 financial report. 2015 was a short fiscal year for Hypo Group Alpe Adria AG as the carve-out from HETA Asset Resolution was completed on 1 April 2015 in preparation of closing the sale, which took place in July 2015. Hypo Group Alpe Adria reported an operating loss of EUR -71.1 million not reflecting exceptional one-off effects. The operational loss is mainly due to a further contracting loan portfolio, decreasing margins and an unsustainable cost base.

Year 2015 results reflect primarily the effects of a comprehensive streamlining of the Group’s balance sheet following the completion of the bank’s EU-mandated privatization process. Cleaning-up of its portfolio, legacy issues and the State imposed conversion of CHF indexed loans in Montenegro and Croatia also impacted results negatively leading to a Group post-tax result for 2015 including one-offs of EUR -675.1 million (2014: -97.4 million).

Following the acquisition by Advent and EBRD, HGAA completed the carve-out of a defined nonperforming loan (NPL) portfolio and settled the imposed CHF conversions with former parent group HETA Asset Resolution (former Hypo Alpe-Adria-Bank International AG). The contractually agreed compensation of incurred losses by HETA has enabled HGAA to maintain a healthy capital base with a core capital ratio (CET1) of 21.0% at the end of Q1 2016. Next to a strong capital ratio, HGAA also posts an additionally improved NPL ratio of 11% (2014:12.4%) and a coverage ratio of 67.2% that are better than regional averages.

“2015 was a transition year for the Group during which we built a solid foundation and made the first steps towards a sustainable development”, said Ulrich Kissing, CEO of Hypo Group Alpe Adria. “We have put the biggest legacy issues behind us and are now in a strong position to focus on developing our bank with a primary focus on retail and SME clients, which are at the core of our offering.

As part of a comprehensive relaunch, HGAA shifted some central Group functions from Klagenfurt to those markets, where it serves its customers, and moved the Group’s headquarters to Vienna. These measures are part of a broader business strategy of reducing the complexity and cost basis of the Group and increasing the efficiency of the entire organization.

In 2015 and the first quarter 2016, HGAA has reinforced its management teams in both Group and subsidiaries. Along with a rebranding, due in Q3 2016, HGAA is also preparing the launch of a new and enhanced digital offering aimed at a more efficient and straightforward consumer experience. To improve its offering to retail and SME clients, the Bank is currently adjusting its product portfolio and introducing a new and improved consumer credit and SME lending process.

In 2016, the Group will continue to focus on further improving its product offering and processes, execute a rebranding and implement further cost and efficiency measures. “We are the only international bank focused entirely on South East Europe and we want to become the bank of choice for clients across all the markets we operate in”, concluded Ulrich Kissing, Group CEO.



Hypo Group Alpe Adria AG opens Group Holding Office in Vienna and appoints Christian Kubitschek as new CFO

Vienna, April 18th, 2016 - Hypo Group Alpe Adria AG (HGAA) today opened its new Group Holding Office in Vienna. The office will consolidate strategic holding functions to simplify the coordination between the Group and its subsidiary banks and clients in Slovenia, Croatia, Serbia, Bosnia and Herzegovina, and Montenegro.
The opening of the new Group Holding Office in Vienna and the move from the former Hypo building in Klagenfurt send a clear signal of a restart and a regional focusing, entirely on the region of South-East Europe“, says Ulrich Kissing, CEO of HGAA.
Furthermore, Christian Kubitschek will strengthen HGAA’s Group Management Board as new CFO as of April 16th, 2016. Previous CFO Johannes Proksch remains member of the Management Board and assumes the newly established role of Chief Transformation Officer (CTO), responsible for Corporate Development and Legal Affairs.
Christian was previously CFO of Sberbank Europe AG. He has many years of experience in various financial functions, amongst others at Deutsche Bank at the group’s Headquarters and in Retail. Furthermore, he worked as auditor and tax account at Ebner, Stolz & Partner and Ernst & Young in Frankfurt.
“The appointment of Christian Kubitschek successfully completed the new personnel alignment and the enhancement of competence of the Management Board. I am glad that Johannes Proksch, who handled the restructuring efforts resulting from the ownership change, is now responsible for the future corporate development. We are working at full force on the rebranding of the Group and a number of investments in digitization as well as in the improvement of our offerings”, says Ulrich Kissing, CEO of HGAA.
The new Group Holding Office with about 60 employees is located in Vienna, close to the city center at Wipplingerstrasse 34. The move of about 60 employees will be completed by beginning of June 2016.