Losses Running into the Billions for Bank Austria

People ♦ Published: March 11, 2014; 17:19 ♦ (Vindobona)

Bank Austria’s results for the 2013 financial year.

Cernko: "This year’s financial statements show a book loss which looks discouraging but is no cause for concern." / Picture: © Uni Credit Group Bank Austria

Operating profit from customer business rises strongly, by 7 per cent, to EUR 3.1 billion – only the charge of EUR 2 billion for the reduction of total goodwill to nil leads to book loss of EUR 1.6 billion with no impact on capital ratios

  • Profit after tax before goodwill impairment amounts to EUR 354 million o Operating profit up by 7.2 per cent to EUR 3.1 billion due to…