Meinl Bank in the Red

Professional ServicesBanks ♦ Published: July 15, 2011; 14:08 ♦ (Vindobona)

Meinl Bank surprisingly presented results on Thursday. The institute slid into the red, while the Group was able to reduce losses.

Meinl Bank in the Red / Picture: ©

In the year 2010, the annual result of Meinl Bank amounted to € -0.6m (after € 3.4m the year before). The bank’s equity capital declined from € 103m to € 80.5m. With 14.22%, they are well above the 8% equity capital coverage required by law, the bank announced. The balance sheet total fell from € 524m to € 433m. In the wealth management segment, the bank reported stable…