Sponsored Content
Bank Austria Takes Drastic Measures
Sponsored Content
Because of selling the Kazakhstan division and bad credits, quarter losses of € 553m for parent company UniCredit have to be faced.

Analysts had actually estimated profits around € 400m for the first quarter of 2013. Instead, Bank Austria needs to cut jobs. Beause of the difficult economic situation, UniCredit expects further losses in its own country, Italy. In 2012, loan loss provisions and value adjustments added up to € 9.6bn which was an increase of almost 68 % compared with the previous year. Also, in the…
or Log In
Sponsored Content
Sponsored Content
Sponsored Content
Fast News Search
Related News
Bank Austria to Sell ATF (March 15, 2013)
Bank Austria: Major Losses in Kazakhstan (December 11, 2012)
Bank Austria Considers Withdrawing from Kazakhstan (November 16, 2012)
Bank Austria Considers Leaving East European Markets (March 29, 2012)
Sponsored Content
Read More
Featured