Hypo Upper Austria Reports stable Profits

Professional ServicesBanks ♦ Published: February 1, 2011; 00:54 ♦ (Vindobona)

According to the management, the regional bank could exceed its own expectations. Annual profit was € 27m.

Hypo Upper Austria Reports stable Profits / Picture: © Hypo OÖ

The Hypo Upper Austria (Hypo OÖ) could record higher profits than expected. “We were not very optimistic for 2010. But in the end, business was better than planned”, says CEO Andreas Mitterlehner to the magazine OÖN. The result was mainly due to high revenues on securities, states Mitterlehner.

The credit volume grew by 4%, the number of total assets amounted to € 8.5bn.…