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Austrian bank to ask for state help

Austrian bank to ask for state help

An Austrian bank has become the country's first financial institution to ask the state for help because of the worldwide financial meltdown.
The Vienna-based Kommunalkredit says it has begun talks with the Finance Ministry over measures to ensure the bank's liquidity and stability.
The Austria Press Agency said the talks Sunday focused on the possibility of the state acquiring part of the bank, the country's eighth largest, or of an increase in the bank's holdings by its present shareholders.


Updated : 2021-07-26 22:10 GMT+08:00