Decrease in Profit at Hypo Lower Austria

Professional ServicesBanks ♦ Published: April 19, 2011; 14:45 ♦ (Vindobona)

Despite improvements in operating profits, net profit of the company drops from € 19.8m to € 7.1m.

Decrease in Profit at Hypo Lower Austria / Picture: © Hypo NÖ

Hypo NÖ managed to improve on the operative side. Although net interest income decreased from € 138.6 to € 135.1m and administrative expenses increased from € 76.6m to € 81.9m, risk provisions could almost be halved from € 34.1m to € 17.7m. Because of a large provision for a fine imposed by the Financial Market Authority (FMA), net profit drop sharply: € 50m had to be…

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