Investkredit back in black

Businessn.a. ♦ Published: August 30, 2010; 13:29 ♦ (Vindobona)

Institute earned €9.6m ($12.24) in the first 6 months.

Investkredit and ÖVAG who have recently merged registered positive numbers in the first half of 2010.

Since the provisioning for impairment losses have declined in the second quarter, Investkredit reports a profit of €9.6m ($12.6) - after registering an equally high loss in the first half of 2009.

Net income before tax amounted to €13.5m ($17.2) (-18.9m ($24.1m))