Austria's bad bank Heta says wind-down of assets progressing well

August 25, 2016 8:47 PM

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Austria's bad bank Heta says wind-down of assets progressing well

VIENNA Austrian "bad bank" Heta Asset Resolution [HAABI.UL] said it made good progress in selling assets in the first half 2016 and confirmed its target of winding down 80 percent of the property, machines and bad loans it still owns until the end of 2018.

The state wind-down vehicle for failed lender Hypo Alpe Adria said on Thursday its balance sheet decreased 0.4 billion euros ($451 million) to 9.2 billion euros as of end June, measured by Austrian accounting standards.

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