Bank Austria: Higher Profits than Expected

Businessn.a. ♦ Published: March 28, 2012; 10:42 ♦ (Vindobona)

Bank Austria posts net profit of € 209m despite burdens of € 1.2bn resulting from Greece, goodwill impairment and bank levies.

Bank Austria: Higher Profits than Expected / Picture: © Uni Credit Group Bank Austria

Bank Austria’s CEO Willibald Cernko: “2011 was a year divided in two halves: a good first six months driven by economic recovery compared with a second half-year which was impacted by the European government debt crisis, disruptions in connection with Greece, and the beginning of the economic slowdown. These developments also had an impact on Bank Austria: we had to recognise…