Meinl Bank Shows Losses

Lifestyle & TravelPersonal Real Estate ♦ Published: December 28, 2010; 22:20 ♦ (Vindobona)

Due to the elimination of investments, Meinl Bank slips into the red zone. The loss amounts to € 37m.

Meinl Bank Shows Losses / Picture: ©

After Meinl Bank parted from its investment subsidiaries Meinl European Land (now Atrium), Meinl International Power and Meinl Airports International, mainly for legal reasons, profits are gone. Total assets have also been significantly reduced.

In 2009, a net profit of € 137m was generated, but this year it is €-37m. Total assets decreased from € 820m to € 500m. Also…