Oberbank Announces Results for Third Quarter 2010

Published: November 16, 2010; 13:20 · (Vindobona)

Due to the expansion of interest and commission income and a stable cost structure, Oberbank has achieved an excellent result.

Oberbank Announces Results for Third Quarter 2010 / Picture: © Oberbank AG / STRADEGY.at (2017)

The result of Oberbank AG was better than in the first three quarters of last year and better than in the first three quarters of 2008, before the financial crisis.

Interest income rose by 21.0% to 238.9 million euro; commission income for 75.3 million euro (+13.9%) is  the result of the much improved securities’ business.

This results in an increase in operating income by 23.6% to 176.3 million euro, a pre-tax profit of 91.9 million euro (+33.8%) and a profit after taxes of 75.9 million euro (+32.2%).

Total assets grew by 5.5% to 16,772.4 million euro. Shareholders' equity increased by 16.8% to 1.121.0 million euro. Of this, more than a third (58.8 million) corresponds to the capital increase of 2009.

Core capital rose by 14% to 952.8 million euro, the rate of 8.06% to 9:46%. Own funds amounted to more than 1.5 billion euro on September 30, 2010 (+1.3%). The capital profit of 681.3 million euro is 35% higher than last year, the equity ratio of 15.34%, almost twice as high as required.

ROE before taxes compared with last year increased by 1.43 percent points to 11.47%, the cost / income ratio improved from 52.05% to 47.60%.

The operating profit margin increased in one year from 1.20% to 1.43%. The equity ratio increased to 15.34%, the core capital ratio to 9.46%.

Customer assets under management have increased by 6.8% to 19,238.1 million euro, compared with last year’s figures. The loan-deposit ratio stood last at 112.1%.