Bank Austria's Profits Under Pressure

Professional ServicesBanks ♦ Published: March 18, 2013; 11:24 ♦ (Vindobona)

In the fourth quarter, Bank Austria has recorded a net loss of € 676m. In the whole year, CEE division showed a profit before tax of € 1.712bn which is an increase of 6 % compared to 2011. One-off charges totalled € 879m.

Bank Austria's Profits Under Pressure / Picture: © Uni Credit Group Bank Austria

Bank Austria's CEO Willibald Cernko: "As expected, 2012 was again a difficult year for the entire banking industry. We were faced with an economic slowdown, which also had an impact on customer business. Regulatory requirements were tightened and bank levies were further increased, resulting in additional costs. In this difficult environment, I am very satisfied that we were able to…