Austrian Bank With Adler Ties Told to Raise Capital or Wind Down

Austrian regulators told European American Investment Bank AG to raise more capital or start winding down its business.

Vienna-based Euram Bank, owned by several investors with former ties to landlord Adler Group SA, must call an extraordinary shareholder meeting by Oct. 18 to decide on a cash injection of at least €25 million ($27.8 million), according to a statement from the Austrian Financial Market Authority on Monday.

Shareholders will also need to affirm that if the capital raise is not approved or implemented within two weeks, the bank must wind down voluntarily, the FMA said.

The FMA appointed a temporary ...