Bank Austria Posts Rising Profits

Professional ServicesBanks ♦ Published: May 10, 2012; 14:30 ♦ (Vindobona)

Net operating profit was up by 20 per cent, reflecting sound customer business, a flat cost trend and a further decline in the provisioning charge. Lending grew by 3.7% to € 133.4bn.

Bank Austria Posts Rising Profits / Picture: © Uni Credit Group Bank Austria

Bank Austria’s CEO Willibald Cernko: “We have got off to a good start in the current year, with net profit of close to € 400m. Commercial banking business with customers has shown a good performance, costs are under control, and net write-downs of loans continued to decline in both Austria and Central and Eastern Europe. In the first quarter we also benefited from a positive…