Addiko Group with YE20 net profit of €1.4mn:
Return to positive result during second half 2020
Results of the AGM for the financial year 2019: Conditional dividend of €2.05 per share, authorization for share buy-backs and new Supervisory Board members
Addiko Group publishes 3Q20 YTD result of €-6.4mn:
Improved underlying performance, solid asset quality and further strengthened capital ratios
Addiko Group publishes 1H20 net loss of €-12.2mn:
Asset quality and capital ratio remain robust
Ganesh Krishnamoorthi appointed Chief Retail, IT and Digitalization Officer from 1st August 2020
Addiko Group publishes 1Q20 results:
Net loss of €-8.4mn
Good operational performance tampered by Covid-19
Addiko Bank AG to postpone its Annual General Meeting in the context of the coronavirus pandemic to the fourth quarter 2020
Addiko Group publishes preliminary YE19 results:
Result after tax of €35.1mn
Continued operational performance improvement
Addiko Group publishes 3Q19 results: YTD result after tax of €23.4mn,
underlying operational performance on track with solid risk profile
Addiko Group publishes 1H19 financial report:
Result after tax of EUR 20.2 million reflects continued
execution of focus strategy
Rating agency Moody’s assigns first-time rating to Addiko Bank AG
Moody’s assigns first-time ba2 Baseline Credit Assessment to Addiko Bank AG; deposit rating at Ba3; outlook stable
Market Research on Consumer Lending in South Eastern Europe
Lafferty Group has published today a market research on Consumer lending in the CSEE region. Lafferty Group conducted an in-depth analysis of unsecured lending in Addiko’s core region: “The five SEE markets covered in this report – Bosnia, Croatia, Montenegro, Serbia and Slovenia – represent a good business opportunity for lenders looking at entering these markets.”
Market report on Unsecured Lending in Central and Southeast Europe
“The Vienna Institute for International Economic Studies (wiiw) has just released a market report on unsecured lending in the CSEE region whereAddiko Bank is present. Publication available –https://wiiw.ac.at/p-4823.html”
Addiko Bank publishes 2018 financial report: Track Record Established
Addiko Bank, a Consumer and SME specialist bank headquartered in Austria, released its consolidated 2018 financial report today. Addiko Bank operates in the CSEE region through six banks with around 70% of assets located in EU countries (Croatia and Slovenia) and close to 30% of assets in EU accession countries (Bosnia & Herzegovina, Serbia and Montenegro). Following its turnaround in 2017, Addiko Bank continued executing its focused strategy in 2018 establishing its track record with further improvements in income generation, operating costs reduction and risk costs containment reflecting the benign macro environment.
Addiko Bank is the winner of three highly rated ‘FocusEconomics’ awards
Addiko Group’s Economic Research has received three international awards ‘FocusEconomics Analyst Forecast Awards 2018’ in the categories ‘Best Overall Forecaster – Slovenia’, ‘Best Fiscal Balance Forecaster – Slovenia’ and ‘Best Overall Forecaster – Serbia’.
Addiko Bank implements Digital Banking Solutions on Appian
Digital Lending and Trade Finance applications cut customer wait times in half.
Addiko Bank publishes 2017 financial report: Positive net result concludes operational turnaround
Addiko Bank, the international financial Group operating through six banks with its core business in Croatia, Slovenia, Bosnia and Herzegovina, Serbia and Montenegro, today released its consolidated 2017 financial report. In its second full year under new ownership, Addiko Bank posted its first-ever positive net result of EUR 41.6 million (2016: EUR –23.9 million), confirming the successful conclusion of a two year turnaround that included substantial investment in new products and technology, an organizational refit and a rebranding of the entire Group.
Cooperation between Addiko Group and Microsoft to ensure advanced customer experience
Addiko Group and Microsoft are cooperating on providing advanced customer experience through the implementation of Microsoft Dynamics 365 solutions. Addiko Group has hereby become the first regional banking organization that will during 2018, in all markets where it operates, implement modern Microsoft solutions and continue with its digital transformation by focusing on improving its customer experience.
Addiko Bank launches Addiko Tagesgeld offer in Austria
Addiko Bank today announced the launch of Addiko Tagesgeld, an online direct deposit service in Austria. Addiko Tagesgeld offers Austrian customers an interest rate of 0.90% p.a. Addiko Tagesgeld thus provides excellent savings conditions and allows customers to benefit from straightforward online access combined with a high level of flexibility. Tagesgeld is the first Addiko Bank product launched in the Austrian market and is intended specifically for online customers.
Addiko Bank publishes 2016 financial report: Successful transformation of the Group
Addiko Bank today released its consolidated 2016 financial report. In its first full year under new ownership, 2016 results reflect a significant positive turn-around in business performance and growth in key strategic business segments. The Group’s post-tax result for 2016 including one-offs amounted to EUR -23.9 million (2015: EUR -675.2 million), with break-even in sight for 2017. The one-off adjusted year end result of EUR -37.5 million (2015: – 71.1 million) is mainly influenced by the conclusion of the Swiss Franc indexed loans conversion in several markets and provisions in the context of legislative risks and reflects normalized risk cost of 90bp on the overall portfolio. The one-off adjusted operating profit improved to a positive EUR +4.9 million (2015: -28.2 million), reflecting achieved targets in revenues and costs as well as the sale of non-core banking assets.
Addiko Bank – a new brand for a new, “straightforward bank”
Vienna, 7 July 2016 – Addiko 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.
Hypo Group Alpe Adria AG undertakes relaunch of organization
The Supervisory Board of Hypo Group Alpe Adria AG (HGAA), a Group operating a banking network in Southeast Europe, has today approved adjustments to the Group’s organizational structure.
As part of a comprehensive relaunch following the separation from its former parent company HETA, the Group will move some central group functions from Klagenfurt to the markets where it serves its customers, and open a Group holding office in Vienna early next year. Klagenfurt is to remain a service center for the Group.
“With this step we want to reduce the complexity of the Group in order to be faster and more efficient with our services to the client. By adjusting to the new market realities and improving our structure, we open ourselves to many opportunities for growth in our regions”, says Ulrich Kissing, Group CEO.
Hermann-Josef Lamberti appointed as member of the Supervisory Board of Hypo Group Alpe Adria AGo Group Alpe Adria AG
Klagenfurt, 27th November 2015. The General Assembly of Hypo Group Alpe Adria AG in today’s meeting appointed Mr. Herrmann-Josef Lamberti as member of the Supervisory Board, effective as of 1st December 2015.
Hermann-Josef Lamberti: „I am looking forward to actively supporting the realignment of the bank. Our goal is to offer first-class and efficient processes for our private and corporate customers. We seek to grow in a profitable manner and strengthen our distribution channels as well as our mobile offering.”
The former Chairman, Marko Voljč, will resign as member and Chairman of the Supervisory Board for personal reasons as of 30th November 2015. Herrmann-Josef Lamberti shall succeed him as Chairman of the Supervisory Board.
Hypo Group Alpe Adria AG – SEE banking network – acquired by Advent International and EBRD
- Advent International/EBRD strongly committed to the development of the Group
- Banking network to be led by newly appointed Group CEO Ulrich Kissing
- Advent/EBRD committed to growing core retail and SME franchise as well as corporate and public sector offering in SEE region
- New owners aim at turning SEE banking network into top-5 player in the region delivering profitable growth
Klagenfurt, 17 July 2015 – Funds advised by Advent International, one of the largest and most experienced global private equity investors, and the European Bank for Reconstruction and Development (EBRD) have closed the acquisition of Hypo Group Alpe Adria AG (HGAA) with its Southeast Europe banking network (SEE-Network) from Heta Asset Resolution (Heta), the wind down asset of the former Hypo Alpe Adria bank owned by the Republic of Austria.
The acquisition was formally closed today following all conditions agreed in the Sales and Purchase Agreement (SPA) signed on December 22, 2014 being met.
2014 annual result of Hypo Group Alpe Adria affected by one-off items – Sale of the south-eastern European banking network soon to be closed
- Negative net consolidated income after tax of EUR -97.4m due to impairments and risk provisioning
- Closing of sale to Advent/EBRD expected by mid-2015
Klagenfurt am Wörthersee, 28 May 2015 – Hypo Group Alpe Adria AG (HGAA) published today for the first time its annual report as an independent banking network. For the financial year 2014, which was particularly marked by preparations for the upcoming sale of HGAA, the banking network reports an annual loss after tax of EUR -97.4m (2013: EUR -302.3m). HGAA has only been fully carved out legally from its former owner Hypo Alpe-Adria-Bank International (now Heta Asset Resolution AG (Heta)) since 30 October 2014, and operationally since the beginning of April 2015.
Carve-out of Hypo Group Alpe Adria AG SEE banking network from Heta Asset Resolution AG finalised
- HGAA SEE-Network fully separated from Heta Asset Resolution AG
- Acquisition of Hypo Group Alpe Adria AG – SEE banking network by Advent International and the European Bank for Reconstruction and Development (EBRD) expected to close on schedule in June 2015; regulatory approvals on track
- Advent and EBRD aim to grow core retail and SME service offering in SEE-region.
Klagenfurt, 14 April 2015 – Hypo Group Alpe Adria AG (HGAA) and its south-east European banking network (SEE-Network), consisting of entities in Slovenia, Croatia, Serbia, Bosnia-Herzegovina and Montenegro have been fully carved out legally and operationally from their former owner Hypo Alpe-Adria-Bank International AG (now Heta Asset Resolution AG (Heta)). HGAA is now the parent credit institution with steering functions for the SEE banking network.
Next important step in the Hypo Group Alpe Adria AG sale process
Staff of 180 banking experts to continue the Group headquarters of Hypo Group Alpe Adria AG in Klagenfurt
On 22 December 2014, Heta Asset Resolution AG (Heta) signed an agreement with a consortium of bidders consisting of Advent International, a leading international private equity investor, and the European Bank for Reconstruction and Development (EBRD) for the sale of Hypo Group Alpe Adria AG (HGAA), the South-Eastern European banking network of the former Hypo Alpe-Adria-Bank International AG, including the holding company based in Austria.