Volksbank owners agree to wind-down plan

May 28, 2015 11:20 AM

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VIENNA May 28 Owners of part-nationalised Austrian bank Volksbank AG agreed on Thursday to a plan to wind up the bank, which failed last year's health checks of big euro zone lenders.

Volksbank (VBAG) has said that the Association of Volksbanks, which groups VBAG with other regional banks, would in its current form be unable to reach the capital targets set by the European Central Bank.

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