Hypo Group´s Result „Close to Zero“

People ♦ Published: January 30, 2012; 14:28 ♦ (Vindobona)

CEO Gottwald Kranebitter announced that Hypo Group Alpe Adria could reduce its losses significantly in 2011.

Hypo Group´s Result „Close to Zero“ / Picture: © Wikipedia / JJ55 (30 March 2008)

According to Kranebitter, the Austrian nationalized bank showed results which are “close to zero”. Kranebitter did not comment whether Hypo Group recorded slight losses or profits. In 2012, the bank should achieve the turnaround and return to black. In 2010, the bank had to report losses of € 1.0bn.

Moreover, non-performing loans should be reduced step by step. For 2012,…