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Hypo Tirol Expects Loss of € 110m
The Austrian regional bank’s result will be impacted by major write-downs of non-performing loans in Italy.
Hypo Tirol Expects Loss of € 110m / Picture: © Hypo Tirol
The management of Hypo Tirol expects that the bank will post a loss of approximately € 110m this year, resulting from major write-downs. The value of the bank’s activities in Italy has to be adjusted by € 120m, according to supervisory board chairman Wilfried Stauder.
The bank on Friday announced that it would write down non-performing loans with a volume of up to € 120m.…
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