Austrian Banks Affected by European Crisis

Business › Economy ♦ Published: June 26, 2012; 19:22 ♦ (Vindobona)

Bank Austria´s CEO Willibald Cernko still believes in the common currency. Last year, earnings went down by 14.6%.

Austrian Banks Affected by European Crisis / Picture: © European Commission

Austrian banks cannot hold back from the European crisis. In 2011, operating earnings declined by 14.6% to € 2.0bn. In total, a net income of minus € 340m was recorded. Erste Group´s net income was € -719m last year.

Willibald Cernko, President of the Austrian Banking Association, refers to the low margins, regulations and the bank taxes. The current year has begun…

or Log In

Fast News Search
Related News
Survival of the Euro Questionable (June 26, 2012)
„The end of the Euro would mean Europe´s Explosion“ (June 25, 2012)
Treichl: „Europe Does Not Need the Euro“ (June 25, 2012)
Nowotny: „Bank Aids Rescue Economy“ (June 23, 2012)
Fekter Declines Mercy for Greece (June 21, 2012)
Read More
CESEE, Spain, Greece, Portugal, KA Finanz, Italy, Erste Group, Banking Industry, Bank Austria, Willibald Cernko
ISIN
AT0000652011
Featured
Austrian Compulsory Vaccination Bill Provides for Fines of up to 7,200 Euros
List of National Days of the Home Countries of All Foreign Missions and Delegations in Vienna, Austria
See latest Vindobona Newsletter