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Profit Situation of Austrian Banks Improved Significantly
The banks recorded a positive development in the first quarter. However, net profits of the full year will fall as a result of the newly introduced bank tax.
Profit Situation of Austrian Banks Improved Significantly / Picture: © Vindobona.org
The Austrian banks have clearly improved their profit situation in the first three months of 2011 compared to the previous year’s first quarter. According to data of the Austrian National Bank (OeNB), their non-consolidated operating result increased by 15.9% to € 1.89bn. The plus is due to higher income from securities and investments. In the full year, however, the new bank tax…
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