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Austrian Banks Record Profits Due to Special Items
This year, Austrian banks achieved earnings of € 1.0bn. This does not relate to operating business, but with special items.
Austrian Banks Record Profits Due to Special Items / Picture: © Vindobona.org
Austria´s banks seem to have conquered the crisis very quickly. In spite of difficulties in the Eurozone, all banks achieved higher earnings. But the increased profits are mainly based on special items, such as the buy-back of own bonds. The operating business was substantially weaker.
Last year, the consolidated profits came at € 710m, which is a decline by 84% against 2010.…
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