Press Release: State aid: Commission approves restructuring of Austrian bank BAWAG

The European Commission authorised on 30 June 2010 under EU State aid rules a €550 million capital injection provided by Austria in favour of the BAWAG bank and approved a new restructuring plan of the bank. The Commission found the restructuring package to be in line with its communication on the restructuring of banks during the crisis (see IP/09/1180), because it will allow the bank to become viable without continued state support, while limiting distortions of competition.