Increase of Profits at RLB Tirol

Professional ServicesBanks ♦ Published: April 5, 2011; 06:30 ♦ (Vindobona)

Raiffeisenlandesbank Tirol registered a higher yearly net profit despite falling income. Risk provisions were greatly reduced.

Increase of Profits at RLB Tirol / Picture: © Raiffeisen Bank International AG / S. Klimpt

Operating income of RLB Tirol amounted to € 109m in 2010, which is by 5.5% lower than in the previous year. This decline in earnings is to be attributed to lower interest income (-9.8%). At the same time, expenses were reduced by 8.6%. In total, the operating profit increased by 2.6% to € 42.4m, growing by 5.5% to € 17.6m. With this result, the previous 2007 record of € 17.5m…