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Austrian Banking Industry Records Higher Profits

Published: July 27, 2012; 09:21 · (Vindobona)

In the first quarter of 2012, Austria´s bank achieved a consolidated net income after taxes and minorities of € 2.12bn.

Austrian Banking Industry Records Higher Profits / Picture: © Vindobona.org

The Austrian Central Bank (OeNB) announces a substantial rise in profits at domestic banks. Against the first quarter of 2011, a profit increase of 58.0% was registered. In the reference period, the consolidated net income totaled € 1.35bn.

The rise in results is mainly due to special effects, resulting in the revaluation of assets and the repurchase of hybrid bonds. Moreover,…

This article includes a total of 247 words.

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