Performance of Austrian Banks Remarkably Down
Published: July 9, 2012; 19:23 · (Vindobona)
Austria seems to be significantly „overbanked“: Austrian banks only achieve a 0.1% yield on the capital employed.
Performance of Austrian Banks Remarkably Down / Picture: © Vindobona.org
The profitability of Austrian banks has reached a new low last year. Return on investment came at 0.1%. Above all, this is due to write-offs in Central and Eastern Europe. Only in Hungary, write-offs totaled about € 1.0bn. Erste Group recorded losses in Hungary and Romania, Bank Austria´s earnes were lowered by the subsidiary in Kazakhstan. VBAG suffered from losses in…
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