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Austria: Bawag to Pay Back Further State Aid
Politics ♦
Published: August 27, 2013; 15:35 ♦ (Vindobona)
Due to lower costs and provision profits of the Austrian bank Bawag increased. From the coming year on the bank intends to pay back further state aids and plans on further withdrawing from CESEE.
Austria: Bawag to Pay Back Further State Aid / Picture: © BAWAG
After an increase of operative profits in the first half year, the bank is considered paying back further state aids. The profit before tax increased due to lower costs and provisions for non-performing loans by 45 percent to € 96.2m, as announced by the institute on Tuesday.
From 2014 on, the bank intends to pay back further state aids. After the repayment of the first tranche…
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