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Bank Austria Assembly Approves Merger With Hypovereinsbank

Gathered for a General Assembly in Vienna, shareholders in Austria's leading bank, Bank Austria (BA), approved a merger with HypoVereinsbank, Germany's next to the first private bank. Following the decision, Bank Austria Chairman Gerhard Randa indicated that BA has place the ideal partner. Bank Austria shareholders approved the merger by dint of an overwhelming majority, representing 998% of capital, according to the Austrian Pres Agency (APA). The merger will create Europe's third banking cluster with a workforce of 65000 a balance of Euro 667 billion and capital totalling more than Euro 173 billion. Bank Austria will be responsible within the fresh group for Austrian and East European markets.



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COPYRIGHT 2001 Gale Group



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