Austrian Division of Hypo Alpe Adria Managed to Turn A Profit

Politics ♦ Published: August 20, 2013; 11:38 ♦ (Vindobona)

In the past half year the Austrian division of nationalized bank Hypo Group made small profits.

Austrian Division of Hypo Alpe Adria Managed to Turn A Profit / Picture: © Hypo Alpe-Adria-Bank International AG

On Monday, the banking group reported a modest profit for the first six months of this year. After net earning of € 5.8m in the first half year in 2012, the bank shows an after tax profit of € 787,000 in the first half year of 2013. However, losses at the parent company Hypo Alpe Adria were so high in the first half year that a semi-annual balance sheet could only be made with a…

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