Bawag Underlines its Profitability

Businessn.a. ♦ Published: March 16, 2012; 12:49 ♦ (Vindobona)

The Austrian bank, which is owned by the U.S. investment fund Cerberus, could report profits before taxes of € 156m. Against 2010, this is a rise by 13%.

Bawag Underlines its Profitability / Picture: © BAWAG

In 2011, Bawag PSK could continue its positive development. The bank reported that all business segments were profitable. In the core business, earnings were up by 6%, risk provisions were reduced by 23%. Profits before taxes reached € 156m, which is an improvement by 13% against 2010 (€ 138m).

Net interest earnings rose by 4.3% to € 677.9m, core revenues were enhanced by…

Fast News Search