21.01.2021 21:52
(Akt. 21.01.2021 21:52)
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Commerzialbank-U-Committee asked Marhold
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The former General Director of Raiffeisenlandesbank Burgenland, Julius Marhold, gave the Commerzialbank-U-Committee an insight into the exclusion process of the later Commerzialbank. Marhold said on Thursday evening that he would have given the bank founded by Martin Pucher only a few years.
Marhold has been in retirement since 2013, but the early 90s were interesting for the MPs anyway, when Raiffeisenbank Schattendorf was excluded from the group of Raiffeisen banks under Pucher. There were two reasons for this: On the one hand, Raiffeisenbank Schattendorf wanted to set up a bank in the area of activity of another Raiffeisen bank and, on the other hand, the 1993 revision found that loans amounting to 45 million schillings were at risk of default. The bank only had ATS 55 million equity. The bank subsequently declared its exit in 1994, whereupon an audit was ordered. After the revision was not approved despite several attempts, the bank was then excluded.
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In the years before that, Marhold attested to Pucher having a “certain Napoleon syndrome”, as he wanted to expand his field of activity to all of Austria: “The greater the distance to the borrower, the square the risk increases. At Raiffeisenbank Schattendorf, foreign exchange speculations were also included in the statutes: “The world in which Pucher lived was different from the honest, solid world of Raiffeisen.”
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“He had two strong interests: He did not want to be persuaded in business because he was the best and he wanted to have appropriate funds for his football club. That was his motivation.” “With us he would not have been a manager for a year”, it was therefore a question of professional survival and Pucher was already very involved in football back then. The revision also checked advertising expenditure and that of Raiffeisenbank Schattendorf was “above the average of other Raiffeisen banks” – “to put it cautiously,” said Marhold.
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“We were pleased that we as competitors did not feel them”, the loss of the 3 percent of savings deposit volume was made up for within six months: “The Commerzialbank was not represented as a competitor.” Marhold stated: “Every competitor hurts. If you are the top dog, you will be nibbled on by everyone. I was afraid that they would nibble on us, but that was not the case.”
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In the course of the exclusion, the state government informed the Raiffeisenlandesbank in a letter that it would take over the audit as soon as the Raiffeisenbank has resigned. Marhold stated that it would also have been possible to appoint an auditor from the company register.
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The former bank director also explained the tasks of the auditing association, namely the appointment of the auditor, the review of the qualification of this auditor, the review of the efficient implementation of the audit and the supervision of the audit report – “so to look at the report” and send it to the To submit to the organs of the bank.
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Marhold found that looking at the Commerzialbank’s balance sheet one should have asked: “How does such a business model work?” The man would then have to be a “miracle whirlpool”. When the Raiffeisenbank Schattendorf was excluded, the later Commerzialbank was given a survival period of a maximum of ten years. You weren’t happy to be rid of Pucher: “That wasn’t the point.” He was excluded because Pucher was not prepared to adhere to the values. The intention would have been more of a transfer, according to the former director general.
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The role of the auditor Gerhard Nidetzky, founder of the TPA, was also discussed. In the course of the exclusion, they also received a letter from him that the loans were in order and that there was no risk of default at the bank. Marhold believes that the Commerzialbank was the first bank that Nidetzky examined.
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The former chairman of the supervisory board of the commercial bank Josef Giefing, who was also questioned in the U committee on Thursday, was also represented in the Raiffeisenlandesbank as a representative of the Mattersburg district, Marhold said. However, Giefing told the untruth there and was asked to resign. They also wanted to break up with Pucher, but Giefing refused: “That was a wasted effort,” continued Marhold, whose questioning ended the meeting on Thursday.
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