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BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische
Press Wire ♦
Published: May 10, 2016; 12:11 ♦ (Vindobona)
BAWAG P.S.K. today reported a record net profit of EUR 182 million for the first quarter 2016, up 51% versus prior year. The increase was driven by higher core revenues, reduced operating expenses, lower risk costs and a positive one-time net tax benefit of EUR 61 million booked in the first quarter. The annualized return on equity was 25.2%, up 5.6pts. Net interest margin remained stable at 2.05%. Operating expenses were down 11% and the cost-income ratio down 2.7pts to 41.7%. Risk costs decreased by 26% to EUR 8.7 million.
BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische / Picture: © Vindobona.org
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BAWAG P.S.K. REPORTS STRONG QUARTERLY NET…
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