EANS-Adhoc: Österreichische Volksbanken-Aktiengesellschaft / Austrian Association of Volksbanks; results of the ECB's stress test for the Association of Volksbanks; no dividend payment on profit-related instruments

ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.

Strategic management decisions/Company Information
26.10.2014

In the run-up to the transfer of supervisory duties for the EU's 130 largest banks, the European Central Bank (ECB) has subjected these institutions to a series of extensive tests, known as the comprehensive assessment or CA. The Austrian Association of Volksbanks is one of six Austrian banking groups undergoing this assessment.

The aggregate capital shortfall calculated by the ECB for the Association of Volksbanks amounts to euro 864,72 million. This is in line with previous announcements by VBAG that the Association of Volksbanks may require further capital in the future.

The stress test did not take into account the wind-down measures actually taken in 2014 or the planned restructuring of the Association of Volksbanks, as these came after the test's cut-off date of 31 December 2013. Under the restructuring plan, VBAG will be split up and the Volksbank sector strengthened by mergers to create nine regional banks and three specialist institutions. This plan remains subject to approval by the authorities and VBAG's executive bodies. There is currently no prospect of dividend payments on VBAG's profit-related instruments (participation capital, hybrid capital, supplementary capital). Stock exchange listed issues of participation capital issued by Österreichische Volksbanken-Aktiengesellschaft:
ISIN:
AT0000755665 Österreichische Volksbanken-AG Partizipationsscheine XS0359924643 EUR 500,000,000 Perpetual Non Cumulative Participation Capital Certificates (issued on a fiduciary basis by Banque de Luxembourg) The five biggest listed issues of Österreichische Volksbanken-Aktiengesellschaft in terms of issue volume:
ISIN:
AT000B115704
AT000B053442
AT000B056544
AT000B058011
AT000B057492
The issues of Österreichische Volksbanken-Aktiengesellschaft are admitted on the following stock exchanges:
Regulated unofficial market of Wiener Börse AG
Official trading of Wiener Börse AG
Regulated market of the Luxembourg Stock Exchange
Open Market of Berlin Stock Exchange
Open Market of Stuttgart Stock Exchange
Open Market of Frankfurt Stock Exchange
Contact details:
Österreichische Volksbanken-Aktiengesellschaft

end of announcement euro adhoc

issuer: Österreichische Volksbanken-Aktiengesellschaft Kolingasse 14-16 A-1090 Wien phone: +43 0 50 4004-0 WWW: www.volksbank.com sector: Banking ISIN: AT0000755665 indexes: Standard Market Auction

stockmarkets: Regulated free trade: Wien, stock market: Prague Stock Exchange language: English

Digital press kit: http://www.ots.at/pressemappe/1267/aom

Rückfragen & Kontakt:

Petra Roth
Tel.: +43/ (0) 50 4004-3838
E-Mail: petra.roth@volksbank.com

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