Hypo Bank Sale Expected in Coming Weeks

The sale of Hypo Bank is expected in the coming weeks, Austrian Finance Minister Michael Spindelegger stated today in Vienna, reports the BiH news agency Patria (NAP). Spindelegger spoke about the sale of the state-owned bank of Austria before parliament, stating that the authorities are negotiating with seven potential buyers.

- I expect that we will make a final decision in the coming weeks and hand over the active part of the bank to the best bidder - said Spindelegger, without specifying the price.

According to Austrian media, the decision to sell the healthy part of the bank is controversial, especially because Austria saved Hypo Bank from collapse due to a large number of bad loans identified during the global financial crisis, NAP reports. Hypo Bank operates in all countries of the region, including Bosnia and Herzegovina. The sale is not expected to affect operations.