Banking Industry: Slower Growth Expected

Professional ServicesBanks ♦ Published: July 30, 2012; 17:48 ♦ (Vindobona)

Due to the weak results in Eastern Europe, the Austrian banking industry faces only decent net income figures in the second quarter of 2012.

Banking Industry: Slower Growth Expected / Picture: ©

Last week, the Austrian Central Bank (OeNB) announced a substantial rise in profits at domestic banks in the first quarter of 2012. Against the first quarter of 2011, a profit increase of 58.0% was registered. In the reference period, the consolidated net income totaled € 1.35bn. However, the rise in results was mainly due to special effects, resulting in the revaluation of assets and…