It was intended to wind down the bad bank over a period of years. The original company Hypo Alpe-Adria-Bank International was renamed as Heta Asset Resolution, becoming a "bad bank" that did not have a banking license. The Balkans unit was sold in December 2014 to Advent International (80%) and the European Bank for Reconstruction and Development (20%). formerly: Hypo SEE Holding A.G.), an Italian business (HBI-Bundesholding A.G.) and a bad bank, Heta Asset Resolution. In March 2014, the Austrian government decided to split Hypo Alpe-Adria-Bank International into a Balkans banking unit ( Hypo Group Alpe Adria A.G. Īs of February 2014, the Hypo Alpe-Adria-Bank International situation was unsolved, causing Chancellor Werner Faymann to warn that its failure would be comparable to the 1931 Creditanstalt event. In 2013 the domestic branches of the bank in Austria were sold to Anadi Financial Holdings, and renamed to Austrian Anadi Bank. The headquarters, which accounts for around 500 employees, was located in Klagenfurt, Austria and was responsible for controlling the subsidiary banks in Austria, Italy and South-Eastern Europe as well as those markets from which the bank was withdrawing (wind-down markets). It was expected that between €13 billion and €19 billion of outstanding loans will never be paid back to avoid bankruptcy, the Austrian taxpayers will have to cover this loss. The bank was nationalised by the Austrian government to avert a bank collapse. 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 each. European debt crisis and the demerger of the group 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. In 2004 the company was renamed Hypo Alpe-Adria-Bank International A.G., as a holding company for the "Hypo Alpe-Adria-Bank" subsidiaries. In the 1990s it explosively expanded into the Alps-to-Adriatic region. The bank was founded in 1896 as a Landes-und Hypothekenbank (state Hypothekenbank). History Birth and rise of cross-border banking 1.2 European debt crisis and the demerger of the group.1.1 Birth and rise of cross-border banking.The Austrian branches were sold in 2013 (now Austrian Anadi Bank). The leasing subsidiaries of the former Hypo Alpe-Adria-Bank International in Italy, Bulgaria, Serbia, Montenegro and North Macedonia were retained in the bad bank. 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. 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. In the past Hypo Alpe-Adria-Bank International was also active in Austria, Germany, Italy, Bulgaria, Hungary and Ukraine. The bad bank contained the leasing subsidiary of former Hypo Alpe-Adria-Bank Group in Austria, Italy, Bulgaria, Serbia, Montenegro and North Macedonia but not in Bosnia and Herzegovina, Croatia and Slovenia, which were transferred to the "good bank". It was owned by the Government of Austria. is a " bad bank" that was the residual asset of the original Hypo Alpe-Adria-Bank International A.G., which was dismantled in 2014.
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