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Kranebitter says 75 cases of Hypo bank operations in SEE under investigations

MOSTAR, June 23 (Hina) - Hypo Alpe Adria Group's CEO Gottwald Kranebitter has said that 75 suspicious cases of the bank's business operations in southeastern Europe are under investigation with a majority of them being dealt with by the judicial authorities in Austria.

There is considerable number of cases in the entire region which we are now tackling. I can tell you now that 75 cases have been under investigations and a significant number of them have been transferred to the public prosecutor, Kranebitter told the media in Mostar, southern Bosnia-Herzegovina on Tuesday.

Kranebitter, who was on a visit to Bosnia-Herzegovina, stated that causes of the problems in the Hypo Bank group were not exclusively linked with high-risk credit placements or commissions.

Causes for those problems are various, he said citing, among other things, an aggressive policy of expansion.

The main task of the new management is to create conditions for more cautious business operations.

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