Bank Austria: Operating Performance Improved, Net Profits Decline

Published: March 24, 2011; 00:00 · (Vindobona)

The Austrian subsidiary of UniCredit announces net consolidated profits of € 747m (-32%). Profits before taxes are down by 14%.

Bank Austria: Operating Performance Improved, Net Profits Decline / Picture: © Uni Credit Group Bank Austria

Bank Austria's CEO Willibald Cernko: "2010 saw two developments which offset each other: on the one hand, commercial banking business with customers recovered and the provisioning charge in Austria and Central and Eastern Europe continued to decline, so that the bank's operating performance improved by 18 per cent compared with the previous year. On the other hand, higher non-operating…

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