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„Austrian Banks Are Robust“

Published: October 11, 2011; 16:26 · (Vindobona)

Ewald Nowotny, the head of the Austrian Central Bank (OeNB) as well as the Minister of Finance, Maria Fekter, appreciate the announcement of Erste Group.

„Austrian Banks Are Robust“ / Picture: © Agenda Austria 2020

Yesterday, the bank published to expect losses of € 800m for 2011. Only two weeks ago, the bank said to estimate profits of € 800m. In meantime, Erste Group decided to write off several substantial risks. Especially the subsidiaries in Hungary and Romania caused high risk provisions.

For Ewald Nowotny, the announcement of Erste Group´s CEO Andreas Treichl was correct.…

This article includes a total of 212 words.

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